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The railway couplers market size is estimated to grow at a CAGR of 2.53% between 2022 and 2027. The market size is forecast to increase by USD 275.16 million. The growth of the market depends on several factors, such as investments in new railway projects, the increased demand for rail logistics due to rising trade activities, and the focus on upgrading and modernizing railway infrastructure.
This report extensively covers market segmentation by product (semi-automatic and automatic), application (passenger train, high-speed train, freight train, and metro and light rail), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Railway Couplers Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
There is a growing concern regarding the safety and comfort of passengers in conventional railway networks and locomotives across the regions which can significantly impact the adoption and use of railways for transportation. As a result, several railway operators are planning for the upgradation of their railway infrastructure and equipment in the future.
Moreover, such kinds of upgradation and modernization activities of current railway/ locomotive infrastructure will significantly contribute to the market. For example, in 2022, the Indian Railway was planning to implement a railway upgrade project including 58 supercritical as well as 68 critical projects worth more than USD 15.44 billion in the next five years. Hence, such factors are positively impacting the market. Hence, such factors are expected to drive market growth during the forecast period.
The concept of virtual coupling enables the trains to run closer together without the need for any physical connection. This concept mainly uses modern electronics and data transmission to run numerous self-propelled units in a uniform manner without any physical contact.
Moreover, the main advantages of virtual coupling on trains include increasing the efficiency of freight services in railways thereby, reducing time and cost reduction and point-to-point relations. Additionally, the virtually coupled trains occupy only one slot un. Hence, such benefits are expected to positively impact the market. Therefore, it is expected to drive the market growth during the forecast period.
There is increasing competition from low-cost airlines for railway operators, especially in Europe and Asia. As a result, it can pose a significant threat to the global railway couplers market. Additionally, there has been a tremendous increase in the volume of passenger traffic traveling by airlines over the last decade.
Moreover, there is a growing preference by consumers to travel by airline due to an increase in disposable income levels, lower fuel oil prices, and the convenience of air travel. Additionally, people are shifting to airlines for domestic travel as a growing share of the population in developing regions such as Asia, the Middle East, and South America enters the middle-income bracket which is negatively impacting the market. Hence, such factors are expected to hinder the market growth during the forecast period.
The semi-automatic segment is estimated to witness significant growth during the forecast period. There is extensive use of semi-automatic railway couplers in order to establish a permanent mechanical and pneumatic connection between cars in a train set. This segment offers automatic mechanical connections, while the pneumatic and electric connections are provided manually. The semi-automatic couplers are mainly manufactured using vulcanized meal-rubber articulation that enables relative movement between the train cars.
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The semi-automatic segment was the largest segment and was valued at USD 1,797.97 million in 2017. Some of the extensively deployed semi-automatic railway couplers include the American Association of Railroads (AAR) coupler, Center buffer coupling, Bar coupler, Willison coupler, Lloyd coupler, and Scharfenberg coupler. The increasing demand for the replacement of couplers along with the rising demand for rolling stocks, especially freight cars and passenger transit train cars is significantly contributing to the growth of the segment. For example, the Indian railways have planned to export their coaches by 2024 under the Make in India scheme in the global USD 55 billion rolling stock market which will positively impact the market. Furthermore, several factors including the increasing need for low-cost public conveyance, the rising concentration of population in urban areas, and increasing government initiatives to invest in tramways and commuter trains are fuelling the growth of this segment. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
Based on application, the segment is classified into passenger train, high-speed train, freight train, and metro and light rail. The main purpose of railway couplers is that it is used to connect multiple train cars to ensure the safe and efficient transportation of passengers and goods. In this segment, there is a growing need for sophisticated and reliable couplers that facilitate a seamless connection between train cars. Some of the main types of trains in the passenger segment include high-speed trains, regional trains as well and commuter trains operating within urban areas. There is an increasing demand for railway couplers in this segment due to the rising focus on the safety and comfort of passengers as well as on enhancing the overall stability of a train. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 40% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. There is a strong presence of railway infrastructure and network in APAC especially in countries like e China, Japan, India, and South Korea. There is an increasing investment by these countries in rail transport systems to cope with the increasing traffic congestion and enhance the transportation facilities in the region. For instance, China has been heavily investing and entering into partnerships to enhance its rail freight transport infrastructure between Europe and Asia in order to expand economic development opportunities.
Furthermore, the rapid expansion of railway lines across different countries in APAC will positively impact the market growth. For instance, India and Nepal signed a Memorandum of Understanding (MoU) in October 2021 for a projected USD3.15 billion railway line project linking Kathmandu and Raxaul (India's border town). Hence, such developments are expected to drive market growth in APAC during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global railway couplers market witnessed a significant slowdown as several new railway projects were delayed or put on hold, resulting in a decline in demand for railway couplers in APAC. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of operation and developmental activities in the railway industry. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
A.D. Electrosteel Pvt. Ltd: The company offers railway couplers such as AAR Type CBC Non- Transition Coupler, AAR Type CBC Transition Coupler, Alliance Coupler, MCPH Type Coupler Hook End, MCPH Type Coupler Yoke End, SA-3 Rusian Coupler, Sri Lanka Coupler.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
aichele GROUP GmbH Co. KG, Amsted Industries Inc., CIM LAF, Dellner Couplers AB, Esco Group, Escorts Kubota Ltd., Flender GmbH, Irwin Car and Equipment, Jiangsu Tedrail Industrial Co. Ltd., Nippon Steel Corp., OLEO International, Rail Udyog, Shanghai Suyu Railway Material, Strato Inc., Titagarh Wagons Ltd., Voith GmbH and Co. KGaA, and Wabtec Corp.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The railway couplers market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Railway Couplers Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.53% |
Market growth 2023-2027 |
USD 275.16 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.36 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 40% |
Key countries |
US, India, China, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A.D. Electrosteel Pvt. Ltd., aichele GROUP GmbH Co. KG, Amsted Industries Inc., CIM LAF, Dellner Couplers AB, Esco Group, Escorts Kubota Ltd., Flender GmbH, Irwin Car and Equipment, Jiangsu Tedrail Industrial Co. Ltd., Nippon Steel Corp., OLEO International, Rail Udyog, Shanghai Suyu Railway Material, Strato Inc., Titagarh Wagons Ltd., Voith GmbH and Co. KGaA, and Wabtec Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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