Global Rail Fasteners Market: Introduction
The railway system plays a vital role in the growth of the economy of a country. Besides, the railway system provides infrastructure that is important for effective functioning of any economy and are also is a major generator of jobs. This further benefits the business growth of railway parts and components manufacturers. Railway track is considered as the primary unit of the railway system.
Rail fasteners are manufactured under strict regulations as the safety of the railway track is very essential. Globally, competitive rail components manufacturing companies and suppliers are using diverse policy approaches and a base of robust long-term investment.
The fasteners are the set of parts used to connect the railway tracks. These parts include rail clips, dog spikes, tie plates, rail pads, and rail plastic dowels, among others. Moreover, there are many types of railway fastening systems such as E-type, Nabla, SKL-type, fast clip, and KPO-type.
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Global Rail Fasteners Market: Dynamics
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 are expected to surge the sale of rail fasteners in the 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 materials and replacement of composite plastic components with steel components have substantially reduced the shipping cost. With the growing railway network, the requirement related to the transporting modes is also in the development edge. Moreover, positive economic conditions and interconnectivity are expected to create significant growth opportunities for the rail fasteners market.
As the railway industry delivered moderate growth from last few years, the growth modulation in rail fasteners industry also estimated.
Trend in rail fasteners market:
The passenger railways adopts ballastless tracks which requires better elasticity of rail fastening system than the conventional ballast track. This factor is further expected to create high growth opportunity for rail fasteners market, in terms of technology advancement.
Global Rail Fasteners Market: Regional Outlook
Asia Pacific rail fasteners market is expected to hold major share in terms of production of auto parts in China and other Pacific countries. With growing network of railway tracks in developing countries, the rail fasteners market is also expected have high growth over the forecast period. Increasing development in railway system is also expected to be one of the main reasons for the growth of the rail fasteners market in this region. North America followed by Europe is expected to deliver high growth opportunities for the rail fasteners market.
Over the past few years there is mass transit in the public transport in North America, which is further expected to increase the demand for rail fasteners in the region. The significant 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 is expected to drive the growth of the railway fastener market. Latin America and MEA are undergoing rapid economic growth and industrialization and are poised to emerge as substantial markets with moderate growth in rail fasteners market, over the forecast period.
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Global Rail Fasteners Market: Segmentation
The rail fasteners market can be segmented on the basis of product type, speed, and rail type.
On the basis of product type, the rail fasteners market is segmented into:
Rail plastic dowel
On the basis of speed, the rail fasteners market is segmented into:
Conventional rail fastening system
High speed rail fastening system
On the basis of rail type, the rail fasteners market is segmented into:
Global Rail Fasteners Market: Key Participants
Examples of some of the key participants in the rail fasteners market are:
Taicang Zhongbo Railway Fastening
LB Foster Rail Products
Brainard Rivet Company
Cooper & Turner Ltd
Key Fasteners Ltd
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