Rail Fasteners Market: Introduction
Railway system provides a critical foundation for any competitive economy. Passenger and transit rails production growth helps strengthen economic condition of countries. Railway system provide infrastructure which is significant to effective functioning of any economy and is also a major generator of jobs and economic growth. These factors lead to the growth of railway parts and components manufacturing. Railway track is considered as the primary unit of any railway system, and the fasteners are the set of parts to connect the railway tracks.
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Rail Fasteners Market: Dynamics
Rail Fasteners Market: Drivers
Growing industrialization in emerging countries such as China, India, Brazil and South Africa is expected to fuel the demand for rail fasteners globally during the forecast period. Improving economic conditions and rapid urbanization leads to increased sales of rail fasteners in emerging markets. With growing technological advancements in the railway industry, there has been significant growth in the use of rail fasteners.
The development of advanced material such as composite plastic components replacement of steel components, have substantially reduced all over weight of and shipping cost. With increasing networking between places, requirement related to the transporting modes also remain on development edge. Moreover, the rising positive economic conditions and interconnectivity between the places, create significant growth opportunities for rail fasteners market.
Rail Fasteners Market: Restraints
From last year, there has been stagnant growth globally for railway tracks, according to the World Bank data. There has been no astonishing development in infrastructure of railway tracks. Such factors are expected to hinder the growth of rail fasteners market during the forecast period.
Rail Fasteners Market: Regional Outlook:
Asia Pacific rail fasteners market holds major share in terms of high production of auto parts in China and other Pacific countries. With increasing number of railway tracks coming up in developing countries, rail fasteners market is also tracing high growth from last few years. Increasing development in railway system also become one the main reasons behind the growth of rail fasteners market in this region.
North America followed by Europe also delivers high growth opportunities for rail fasteners market. Over the past few years, transit by rail in North America region has increased massively and this is further expected to increase the market demand for rail fasteners. The significant high development in the light rail segment could be a double digit growth opportunity for rail fasteners market.
Moreover, the rise in demand for high grade safety fasteners will drive the demand for railway fastener market. Emerging markets include countries undergoing rapid economic growth and industrialization and are poised to emerge as substantial rail fasteners markets such as Latin America and MEA market. Furthermore, the rail fasteners market in Latin America and MEA region is expected to show moderate growth during the forecast period.
Rail Fasteners Market: Segmentation
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Rail Fasteners Market: Key Players
Examples of some of the market participants in the global rail fasteners market identified across the value chain include:
- Taicang Zhongbo Railway Fastening
- Vossloh
- Pandrol
- MNP Corporation
- LB Foster Rail Products
- Brainard Rivet Company
- Cooper & Turner Ltd
- Clyde Fasteners
- Key Fasteners Ltd
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