Rail Gangways Sales to Top US$ 634 Mn as India and China Gear for Expansion of Railway Infrastructure: Fact.MR
Smart Railway Expansion in India, China Positions Asia Pacific as a Lucrative Rail Gangways Market.
DUBAI--(Korea Newswire) October 08, 2021 -- The rail gangways market will witness lucrative growth opportunities in the Asia Pacific as an investment towards the expansion of rail infrastructure is improving across India, China, and Japan. Development of rail infrastructure and construction of metro and high speed trains is expected to remain at the epicenter of rail gangways market growth at nearly 5% CAGR through 2028.
Integration of artificial intelligence and predictive analytics is on the cards, as India and China gear for the development of smart railways. Steered by these developments, the rail gangway market is expected to surpass US$ 634 million by 2028, also positioning the Asia Pacific as a highly lucrative market.
Rising passenger density across China and Japan has compelled their governments to invest in improving railway infrastructure. Hence, demand for two piece gangways is expected to rise in China. Globally, the sales of two piece gangways are expected to increase by 3.5X during the forecast period.
“Rapid expansion of high speed rail network and expanding fleet of metro trains are the leading factors supporting the growth of rail gangways across the Asia Pacific. With resumption in production activities post COVID-19 outbreak, manufacturers are striving to cater the surging demand, especially from across India and China for two-piece rail gangways,” says a Fact.MR analyst.
China to be at Epicenter of Railway Gangway Growth in Asia
China will lead rail gangways in the Asia Pacific as the government is making large scale investments for improving the country’s rail sector. As for India, the development of rail infrastructure and favorable government initiatives to make cities of India smarter will be major factors driving sales.
Increasing passenger transportation through local and special trains is accelerating the market growth across China and India. As per Fact.MR, India and China witnessed the fastest growth during the historical period (2016-2020).
However, with the unprecedented outbreak of COVID-19, passenger transportation suddenly stopped due to the global shutdown. This also suspended production activities across various industries in India. Disruption in supply-chain hampered the sales of rail gangways to an extent during the FQ-20.
Thanks to the vaccination drive in India, production activities are recovering and travel restrictions are eased. This has helped sales in the rail gangways market to recover.
Railway gangway finds a steady market in China, home to the second-largest railway network in the world. Reportedly, China plans on having nearly 124,274 miles of railway track by the end of 2035. As per a plan issued by the China State Railway Group, the country also intends at investing in about 70,000 km of a high speed railway.
Coupled with this, steps taken by the Government of China to expand the railway network in places with ethnic minorities are expected to bode well for the railway gangway market.
The key players operating in the global rail gangways as profiled by Fact.MR are:
· Hubner GmbH & Co. KG
· Bellow and Bus (Pty) Ltd
· Chongqing Hengtai Electromechanical Equipment Co. Ltd.
· Schliess- und Sicherungssysteme GmbH
· Airflow Equipments (India) Pvt. Limited
· ATG AUTOTECHNIK GmbH
· Dellner Couplers AB
· Narita Mfg. Ltd.
· KTK Group
· Qingdao Victall Railway Co. Ltd
· Kasper Elektronik GmbH
· Korea Railway Parts Co Ltd
· Vulcanite Pvt. Ltd.
Key Questions Answered by the Report
· The report offers insight into rail gangways market demand outlook through 2028
· The market study also highlights projected sales growth for rail gangways market in the next seven years
· Rail gangways market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
· Rail gangways market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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