Railroad Tie Plate Market: Introduction
Railroad tie plate is a thick plate which is installed in between rail tracks and railway sleepers to improve stability and reduce twisting and torsion amongst the rail tracks and railway wheels. Railway tie plates are important and indispensable part of the railway track assembly. Mostly railway tie plate is manufactured using steel, though in the recent years to prolong the lifespan and improve the capacity, carbon steel is also being introduced for the manufacturing of railroad tie plate. This plate enable the railway tracks to withstand their position and maintain standard dimensions of the complete track thereby improving safety of passengers and railway workers. Railway tie plate is tapered at its ends which improves its hold over railway sleepers at the correct gauge.
Railroad tie plate evenly distribute the weight of train on the tracks which in turn reduce the tension on the sleepers enhancing life expectancy of these sleepers. It also enable sleepers to bear pressure evenly improving efficiency and ability of the railway.
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Railroad Tie Plate Market: Dynamics
Railroad tie plate market is expected to glide over the coming years due to the increasing railway network in majority of the developing countries. Especially, in the Indian Subcontinent railroad transport is comparatively affordable way of transport and is preferred by majority of the population which is the reason the railroad tie plate market is anticipated to attract suffice traction in Asia Pacific market. Double shoulder tie plates are expected to hold a considerable share in the market as compared to its other competitor types. Furthermore, in case of material types majority of the railroad tie plate market will be governed by steel although, in few cases where the prime motive is enhanced working life, strength and durability are prime motives carbon steel plates are also expected to be employed.
Although, there are multiple factors propelling railroad tie plate market growth there are quite a certain factors which can limit enhancement in sales at a considerable extent. With the ongoing research and development to reduce density of the railway sleepers on the railroad tracks, the number of railway sleepers employed on the track can observe a considerable decrement which in turn automatically turn down sales of railroad tie plate market.
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Railroad tie plate Market: Segmentation
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Railroad tie plate Market: Regional Overview
South Asia market is expected to pose as the most lucrative market over the coming years spearheaded by India due to the immense increment in the railway network by the central government initiative to improve accessibility across the country. Railway transport is backbone of local transport in the developing countries, which is the reason that India and ASEAN countries expected to provide significant growth opportunities in the country. East Asia is also anticipated to provide significant growth owing to the developments in railways structure and continuous improvements in the track layouts in the countries like China and Japan. Europe is also expected to have a stable growth over the forecast period in the railroad tie plate market with strong railways network in countries like Germany and U.K. Railroad tie plate market in North America is likely to be governed by U.S. Brazil and Mexico being two strong countries in the Latin America market will cater the majority of the developments and are expected to hold noteworthy share in the railroad tie plate market.
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Railroad tie plate Market: Market Participants
The key players identified for Railroad tie plate market are as follows,
- Anyang General International Co., Ltd.
- Kimes Steel & Rail, Inc.
- ArcelorMittal
- Astec Industries, Inc.
- L.B. Foster Company
- Pandrol Limited
- Gantry Railing Ltd
- Birmingham Rail & Locomotive Co. Inc.
- Buck Co. Inc.
- Shanghai Bosheng Industries., Co., Ltd
- Sumitomo Corporation of Americas Group
- NINGENMURA COMPANY
- Arkansas Steel Associates, LLC
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