Railway Track Fittings Market: Introduction
Railway track fittings are designed for maintaining alignment and improvement in quality of the track by reducing track maintenance and to provide mitigation of vibrations. The purpose of providing track fittings and fastenings in railway tracks is to hold the rails at their proper position to ensure the smooth running of trains.
The lines having high axle loads and high speed rail lines as well as standard gauge lines can be equipped with railway track fittings. Constant loads creates tension resulting into misalignment of the tracks. These effects reduce the quality of the track geometry. The proper installation of railway track fittings enables the train’s movement in safe and comfortable manner by reducing abrasion and friction. These fastenings and fittings are used to join rail tracks with each other as well as to fix them with the sleepers. The fishplates are commonly used for track fittings. Fishplate is a metal bar bolted to the end of the two rails to connect and hold them together.
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In the recent times, improvements in railways to compellingly reduce irrelevant vibrations and increase stability are expected to propel the growth of railway track fittings market. Moreover, the global railway track fittings market is projected to be fueled by the expansion in railway networks to fulfil the transportation requirement from increasing industrialization.
Railway Track Fittings Market: Dynamics
To convene the needs of urbanization and transport infrastructure, advanced transportation systems are being developed across the world. This has instilled the use of high speed railways. Furthermore, technological developments in railways for enhancement of power and speed is anticipated to fuel the demand for railway track fittings. Owing to the ability of railway track fittings to avail suspension even at high speed and high load conditions, the railway track fittings is estimated to witness significant growth in the global market. The governments of various countries are focusing on strengthening their networks by investing on railway network expansion in order to meet public transportation demand. This will impact the railway track fittings market positively over the forecast timeline. The freight based rail locomotives are subject to mechanical stress due to heavy loads hence require installation and periodic replacement of railway track fittings.
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In the railway track fittings market, aftermarket segment account for significant market share referring to the periodic replacement and retrofitting of existing grids in the rail networks. Attributing to this, railway track fittings market is expected to witness healthy growth. Difficulty for installations in existing grids is estimated to be a key factor hampering the growth rate of global Railway track fittings market. However, the current trend for deployment of better technology for improvement in results will contribute towards the growth of global railway track fittings market over the forecast period.
Railway Track Fittings Market: Regional Outlook
The railway industry has developed over the recent past and this is projected to continue through the forecast period fueling the growth of railway track fittings market. In the emerging economies referring to increase in industrialization, the developments in railway network has also been witnessed and hence expected to generate high demand for railway track fittings in the forthcoming period. In terms of market size, regions including Western Europe and North America are expected to account for a significant share in the global railway track fittings market. Furthermore, the introduction of new projects in these regions is expected to surge the growth in railway track fittings market in coming years. Asia pacific region is projected to witness significant growth in the railway track fittings market, owing to the presence of emerging economies such as China, India and South Korea. Middle East & Africa is estimated to account for minor share in the global railway track fittings market owing to relatively smaller railway network in the region.
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Railway Track Fittings Market: Key Players
- AGICO Group
- American Equipment Company
- Enerco
- Erico
- Harsco Corporation
- International Track Systems
- Kingrail
- KVT-Fastening
- Unit Rail
- Warwood Tool
- ArcelorMittal Europe