Global Rail Wheel and Axle Industry

Global Rail Wheel and Axle Industry

  • May 2021 •
  • 395 pages •
  • Report ID: 5900178 •
  • Format: PDF

Global Rail Wheel and Axle Market to Reach $4.2 Billion by 2027

Amid the COVID-19 crisis, the global market for Rail Wheel and Axle estimated at US$3.1 Billion in the year 2020, is projected to reach a revised size of US$4.2 Billion by 2027, growing at aCAGR of 4.4% over the period 2020-2027. Solid Axles, one of the segments analyzed in the report, is projected to record 4.6% CAGR and reach US$3.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hollow Axles segment is readjusted to a revised 3.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $543 Million, While China is Forecast to Grow at 6% CAGR

The Rail Wheel and Axle market in the U.S. is estimated at US$543 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$938.2 Million by the year 2027 trailing a CAGR of 6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Select Competitors (Total 36 Featured)
  • Amsted Rail Company, Inc.
  • ArcelorMittal S.A.
  • Bharat Forge Ltd. (Kalyani Group)
  • Bombardier Inc.
  • CAF, Construcciones y Auxiliar de Ferrocarriles, S.A.
  • Comsteel
  • CRRC Sifang Co., Ltd.
  • Kolowag
  • Lucchini RS S.p.A.
  • Maanshan Iron and Steel Company Limited
  • Nippon Steel Corporation
  • Penn Machine Company LLC
  • Rail Wheel Factory – Indian Railways
  • Semco India (P) Ltd.
  • Simmons Machine Tool Corporation (NSH Group)
  • United Metallurgical Company, OMK CJSC