PMR Research on Railway Composites Market, Size, Trends, Demand, Status, Forecast to 2026

by Persistence Market Research Healthcare Market Research

The COVID-19 pandemic has caused supply and manufacturing disruptions in the automotive sector creating uncertainties in every aspect. The change in customer behavior in terms of mobility preferences during this crisis is changing the automotive landscape. 

This pandemic situation has shut down many production lines owing to the trade restrictions and closed borders, creating a shortage in required parts and limiting the distribution of supplies. Different enforced measures including the closing of workspaces and dismissal of short-time workers have created a depression in the growth rate of the automotive industry. 

The growing fear of recession is estimated to decrease overall sales and revenue. A limited supply of parts coupled with a reduced workforce has forced the leading OEMs to shut down their production. A significant drop in demand has restricted the cash inflow which is highly important in payment of salaries to the workforce. With growing uncertainties around the COVID-19 pandemic, the industry leaders are taking measures to adapt to the situation.

Railway composites provide considerable flexibility in train design and helps in the optimization of train performance. Composite materials are increasingly used in the railway industry worldwide wherein the performance improvement is critical. Composites have been used in railways as they meet their stringent requirements. The use of composites in engineering designs has become essential owing to their satisfactory performance in extreme conditions such as high temperature, moisture, pressure, corrosion, high stress, possesses fire retarding properties and so on. Railway composites lower energy consumption, aid in the dampening of vibration to reduce noise levels and improve passenger comfort. Railway composites used for various applications in railways mostly comprise metal or non-metal honeycomb and sandwich constructions.

Railway Composites Market:  Drivers & Restraints        

The global railway composites market is largely driven by the government initiatives across countries to embark upon large number of projects and deliver industry oriented railway composites. Also, increasing pricing pressures on energy resources coupled with environmental regulations are augmenting the need for substantial improvements in the performance of materials used in engineering and manufacturing. Owing to its dual feature of mechanical properties and aesthetic appearance for railways, railway composites have been identified as a potential material for the global transportation industry. The demand and consumption of railway composites is expected to grow significantly owing to stringent quality requirements.

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Railway Composites Market:  Segmentation

The global railway composites market is classified on the basis of composite type and region.

Based on composite type, the global railway composites market is segmented into the following:

  • Fibre Reinforced Plastics (FRP)
  • Jute-Coir Composites
  • Thermoset Composites
  • Other Composites

Railway Composites Market:  Overview

Railway composite use in the transportation industry has widened in the past decade and the trend is expected to continue through the forecast period. Transportation industry requires a lighter, stronger, safer and affordable than conventional composite which is a reliable material. Railway composites reduce energy consumption as well as operating costs. Railway composites are majorly used in passenger coaches for exceptional structural qualities, giving an enhanced aesthetic value to it. The most important trend in the global railway composite market is hybrid construction by using several materials in forming one component.

Railway Composites Market: Region wise Overview

Geographically, global railway composites market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East and Africa (MEA). U.S., China and India, the top three railway network countries in the world based on operating length hold around half the share in the global railway composites market. India is projected to be an important market for railway composites due to the availability of intensive manpower and high demand for materials offering long-term service, reduced maintenance costs and improved resistance to wear and tear.

Railway Composites Market:  Key Players

The key research institutes in global railway composites market are Hexcel Corporation, Kansas Structural Composites Inc., Euro-Composites Corporation, Premier Composite Technologies (PCT), Joptek Composites, Gurit, TRB Lightweight Structures Ltd., Composites UK to name a few. Composite manufacturers globally are engaged in the production of composite materials focusing on material quality, combining composite with metallic components to form a sandwich construction. The railway composite manufacturers are involved in addressing the issue of recyclability for effective re-use of the materials.

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Created on May 28th 2020 09:25. Viewed 237 times.


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