What is Global Rolling Stock Wheel Market?
The Global Rolling Stock Wheel Market is a vast and dynamic sector that plays a crucial role in the transportation industry. Rolling stock refers to all the vehicles that move on a railway, and the wheels of these vehicles are an integral part of their operation. The market for these wheels is global in nature, encompassing manufacturers, suppliers, and consumers from all around the world. In 2022, the market was valued at a substantial US$ 3156 million, indicating the high demand for these products. The market is expected to grow even further, reaching an estimated value of US$ 3944.9 million by 2029. This growth is projected to occur at a Compound Annual Growth Rate (CAGR) of 3.2% from 2023 to 2029.
Casting, Forged in the Global Rolling Stock Wheel Market:
The Global Rolling Stock Wheel Market is segmented based on the manufacturing process of the wheels, primarily into casting and forging. Casting involves pouring liquid metal into a mold, which then cools and solidifies into the shape of the wheel. On the other hand, forging involves heating metal until it becomes malleable and then shaping it with a hammer or press. Forged wheels hold the largest segment in the market, accounting for over 69% of the total market share. This dominance can be attributed to the superior strength and durability of forged wheels, which are essential characteristics for the heavy loads and harsh conditions that rolling stock often encounters.
High Speed, Freight Wagons, Passenger Wagons, Locos in the Global Rolling Stock Wheel Market:
The Global Rolling Stock Wheel Market also varies based on the type of rolling stock where the wheels are used. These include high-speed trains, freight wagons, passenger wagons, and locomotives (locos). High-speed trains require wheels that can withstand high rotational speeds and intense heat generation. Freight wagons, which carry heavy goods over long distances, need wheels that are robust and durable. Passenger wagons require wheels that provide a smooth and comfortable ride, while locos need wheels that can handle the high torque produced by the locomotive's powerful engines. Among these, the largest market share is held by freight wagons, accounting for over 62% of the total market.
Global Rolling Stock Wheel Market Outlook:
The future outlook for the Global Rolling Stock Wheel Market appears promising. The market is expected to grow at a steady pace, driven by the increasing demand for efficient and reliable transportation solutions. The top five players in the market currently hold about 49% of the total market share, indicating a relatively high level of concentration. However, there is still ample room for new entrants and smaller players to establish themselves and grow. As the market continues to evolve, it will be interesting to see how the dynamics change and what new opportunities arise.
| Report Metric | Details |
| Report Name | Rolling Stock Wheel Market |
| Accounted market size in 2023 | US$ 3265.6 million |
| Forecasted market size in 2029 | US$ 3944.9 million |
| CAGR | 3.2 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Interpipe, Nippon Steel corporation, Standard Steel, OMK Steel, Masteel Group, EVRAZ NTMK, ZHIQI RAILWAY EQUIPMENT, Amsted Rail, Taiyuan Heavy Industry, Bochumer Verein Verkehrstechnik (BVV), GHH-Bonatrans, Lucchini RS, Datong ABC Castings Company Limited (DACC), Xinyang Amsted Tonghe Wheels, CAF, Rolling Stock Wheel Factory, MWL, Comsteel |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
