According to in-depth industry analysis by Persistence Market Research, the global railway sleepers market is estimated to increase at a value CAGR of 5.7% during the forecast
period of 2022-2032 to reach a valuation of US$ 19.3 Bn by the end of
2032.
Increasing investments in railway track expansion across regions is a key factor that is driving the demand for railway sleepers.
Increasing number of metro projects & high speed railway projects
are also expected to augment market across the world.
Since the last decade, the railway industry has been undergoing the most dramatic
and disruptive technological breakthroughs. This has had a significant
impact on all track components, including railway sleepers. Significant
advancements in railway sleeper designs, techniques, and materials have
been made to meet changing market requirements, address tough laws on
fuel efficiency & carbon emissions, and to also remain competitive
in the marketplace.
Key Takeaways from Market Study
- By material type, the wood segment is projected to hold a market share of
around 50% by the end of 2032. However, the composite segment is
expected to expand at a faster CAGR of 7.8% through 2032. - The tangents segment is anticipated to hold the largest market share of around two-third, of track type.
- By line type, the main line (passenger and freight) segment is projected
to create an absolute $ opportunity of nearly US$ 3.5 Bn by 2032. - By region, North America is expected to account for the largest share of more than one-third by 2032.
- The U.S and China are projected to collectively register an absolute $ opportunity of nearly US$ 3 Bn over the decade.
“Government Initiatives & investments to expand railways infrastructure &
high-speed railway networks are expected to drive demand for railway
sleepers through the forecasted period,” says a Persistence Market Research analyst.
Market Landscape
To enhance the durability of railway sleepers, manufacturers are involved
in research activities to develop new products & materials and meet
industry demand. Businesses have been increasing their footprint by
opening additional operations to manufacture sustainable railway
sleepers.
Some of the key railway sleeper manufacturers profiled in the report are Kirchdorfer Group, Daya Engineering Works, Patil
Group, The Indian Hume Pipe, Juli Railway Track, Weihai Ruihe Railway
Sleeper, RailWorks Corporation (NARTSCO), Axion Structural Innovation,
IntegriCo Composites, L.B. Foster Company, Vossloh AG, PCM RAIL.ONE AG,
and Wegh Group
Conclusion
Over the forecast period, rising product demand from the railway industry, owing to high
investments for new railway projects by governments, is expected to
drive market expansion.
Because of increasing population and high traffic congestion around the world,
the railway sector is predicted to rise rapidly. With increased
awareness about deforestation due to wood cutting for railway sleepers,
demand for concrete railway sleepers is expected to increase.
