QY Research has released a latest report about the train bogies market. This research report, titled “Global Train Bogies Market Research Report 2019,” provides an in-depth analysis of the key market trends. Despite being specific to the segments and geography, the researchers have also highlighted the global impact of the train bogies market for the forecast period of 2019-2025.
According to the QY Research report, the global train bogies market is expected to reach US$2270.79 mn by 2025 from US$1652.72 mn in the year 2018. The market is expected to register a CAGR of 4.56% throughout the forecast period.
Global Train Bogies Market: Drivers
There has been a remarkable growth in the use of public transport and it is estimated to remain the consistent for the forecast period. The rail industry is expected to drive the growth of the train bogies market due to the persistent inclination of the consumers towards safety and security in railway transportation. The demand will be felt from both passenger and commercial sectors. The rising research and development activities for the latest technologies to make bogies smarter and safer is acting as a driver for the overall market. Growing consumer preference to use railways as it is one of the most economical means of transportation is also favoring market growth. The global train bogies market will also be driven by factors such as cost-effective and energy efficient nature of railways.
Global Train Bogies Market: Regional Analysis
North America and Europe have increased the demand for bogies due to stringent government rules and regulations pertaining to the safety of the passenger in this region. Asia Pacific is also expected to drive the growth of the train bogies market as emerging economies such as China and India focus on improving public transport in the near future.
Global Train Bogies Market: Segment Analysis
The global market for train bogies is segmented on the basis of type and applications. The product type is segmented into 3-axle bogies, 2-axle bogies, and others. The application segment is segmented into high-speed railway train, subway train, and normal-speed railway train.
Global Train Bogies Market: Key Players
The leading manufacturers that are operating in the global train bogies market are PROMEC Srl, CRRC Sifang Co., Ltd., Ganz Moto, Amsted Rail, Jiangsu Railteco Equipment Co., Ltd., Tatravagónka, Titagarh Group, Siemens AG, WBN Waggonbau Niesky GmbH, Kawasaki, NSSMC, Alstom, and Bombardier.
Global Train Bogies Market: Competitive Landscape
Bombardier Transportation will deliver 74 BOMBARDIER TWINDEXX Vario double-deck coaches to Israel Railways (ISR) by 2021. This delivery is expected to ensure customer satisfaction and excellent collaboration. Players are expected to focus on mergers and acquisitions, product development, and market expansion strategies to achieve higher revenue to remain ahead of the competition in the market.
Full Report Overview@ https://www.qyresearch.com/index/detail/1173984/global-train-bogies-market