Global Rail Track Components Market - APAC to Dominate the Market Through 2022 | Technavio
February 19 2018 - 12:38AM
Business Wire
Technavio’s latest market research report on the global rail
track components market provides an analysis of the most
important trends expected to impact the market outlook from
2018-2022. Technavio defines an emerging trend as a factor
that has the potential to significantly impact the market and
contribute to its growth or decline.
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Technavio has published a new market
research report on the global rail track components market from
2018-2022. (Graphic: Business Wire)
According to Technavio analysts, the global rail track
components market will grow at a CAGR of close to 10% during
the forecast period. The rising demand for rail logistics is a
major factor driving the market’s growth.
Rail transportation is becoming an ideal choice for various
manufacturers across various business segments. Vendors and
manufacturers prefer rail transportation over road transportation.
This trend can be attributed to infrastructure deficiencies,
unstable fuel prices, and driver shortage. Furthermore, government
policies that restrict the number of hours a driver can be on the
road and limiting the movement of heavy trucks during specific
periods of the day are also driving the demand for rail
transportation.
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In this report, Technavio highlights regenerative braking energy
as one of the key emerging trends driving the global rail track
components market:
Regenerative braking
energy
Electric railways worldwide are a fast and quiet means of
transport when compared with diesel powered trains. When a brake is
applied in electric trains, the energy of a moving train is lost.
To capture the energy that is lost during braking is an easy task,
but to redistribute it efficiently through the power grid is an
arduous task. Research is being conducted to efficiently capture
and redistribute the energy lost during braking by use of smart
grids. In conventional electric trains, the electrical energy
produced during braking is fed to a third rail with limited
capacity.
“According to a senior analyst at Technavio
for construction research, “Pilot projects are under process
in various parts of the world, wherein the braking energy is
captured using a battery storage system. Apart from providing
additional capacity, the banks of batteries can efficiently feed it
back to the regional power grid. This provides extra electricity to
grids falling short of power.”
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Global rail track components market
segmentation
This market research report segments the global rail track
components market based on the different type of products (rail
sleepers, rail fasteners, and rail fishplates) and key regions (the
Americas, APAC, and EMEA).
In 2017, APAC accounted for the largest market share in the
global rail track components market, whereas the Americas and EMEA
held the second largest and the least share, respectively. APAC
held a market share of more than 39%, which is projected to
increase by a further 2% by 2022. The other two regions are
expected to witness a small but steady decline in their market
shares over the forecast period.
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version on businesswire.com: http://www.businesswire.com/news/home/20180218005061/en/
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 844 364 1100UK: +44 203 893 3200www.technavio.com