Railway Couplers Market Size to Grow by $ 193.82 million through 2021-2025
Technavio research projects the railway couplers market to grow by $ 193.82 million, accelerating at a CAGR of over 2% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Railway Couplers Market: Key Market Driver
One of the primary factors that will trigger the growth of the railway couplers market size is Investments in new railway projects. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Railway Couplers Market: APAC will contribute 40% to market growth
40% of the market growth will originate from APAC during the forecast period. China and India are the key markets for railway couplers in APAC. However, market growth in this region will be slower than the growth of the market in MEA. The predominant rail systems in countries such as China, Japan, India, and South Korea and the heavy investment in the rail transport systems to cope with the rising traffic congestion and improve the transportation facilities will facilitate the railway couplers market growth in APAC over the forecast period.
Metro rail rolling stock in India is expected to witness major growth in terms of the installed base during the forecast period, leading to an increased demand for semi-automatic couplers such as center buffer couplers and AAR couplers. In addition, factors such as the growing need for low-cost public conveyance, increasing concentration of population in urban areas, and growing government initiatives to invest in tramways and commuter trains are expected to propel the growth of the semi-automatic market segment during the forecast period.
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.
Railway Couplers Market: Vendor Analysis
The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. A.D. Electrosteel Pvt. Ltd, CIM LAF, Dellner Couplers AB, ERA CONTACT GmbH, Escorts Ltd., Irwin Car and Equipment, McConway and Torley, LLC, Nippon Steel Corp., Titagarh Wagons Ltd., and Voith GmbH and Co. KGaAare some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Railway Couplers Market: Key Highlights of the Report for 2021-2025