Los Angeles, November 15, 2019 –QY Research recently published a research report titled, “Global (United States, European Union and China) Railroad Tie Market Research Report 2019-2025”. The research report provides an in-depth analysis of global railroad tie market. Researchers have used primary and secondary methodologies to give accurate information about the market. Railroad ties are one of the most important parts of a railway structure. They ensure that the load is evenly distributed on subgrade and ballast tracks, keeping rails upright and maintaining the distance between gauges.
In 2018, the global railroad tie production value was over US$2 bn and it is expected to reach more than US$3 bn by 2025, rising at CAGR of more than 3% between 2019 and 2025.
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Government Projects to Develop Transportation Infrastructure Boosts Market Growth
The rising demand for public transportation and subsequent development of railway infrastructure combined are expected to boost the global railroad tie market. Governments are extensively investing in expansion of railroads as they are six times more energy-efficient and four times more economical than roads. When sustainable railways are developed they provide economic opportunities. Development of railroad over the years have resulted in employment, additional investments, reduced trade cost, and better accessibility to markets.
Railroad ties are highly durable and have low replacement rate, which lowers the maintenance cost. Additionally, tourists rely heavily on railways to access destinations owing to affordable fares. In recent years, concrete and metal tie have been in the spotlight as manufacturers are weighing in the environmental impact of wooden ties.
High durability of railroad ties is expected to counter the demand for new ones. In addition, awareness about perils of deforestation are also expected to make usage of wooden ties questionable. Both of these factors are expected to hamper market growth.
Concreate Tie Segment to Lead Global Railroad Tie Market
The global railroad tie market includes two segment product type and application. The product type segment includes wooden tie, concrete tie, and others. While the wooden tie segment currently holds largest market share, concreate ties are expected to dominate the market in the forecast years. Enhanced durability, excellent resistance to weathering, and better load bearing capacity are expected to propel concrete tie segment. The application segment includes train, subway, and others.
Asia Pacific to Dominate Global Railroad Tie Market
Developing countries such as China and India will give Asia Pacific an edge over other regional markets as infrastructure will take a precedence in marking national progress. These overly populated nations will demand a robust railway infrastructure to provide effective commuting options within and across borders. Deterioration of environment, skyrocketing pollution levels in urban areas, and traffic congestions in bustling metros are expected to compel governments to invest in railways. The other regions studied in this research report are the Middle East and Africa, North America, and Europe.
Manufactures to Opt for Eco-friendly Alternatives for Building Green Railroads
Tie & Timber Technologies LLC (T3) recently announced its plan to establish a railroad tie manufacturing facility in Marion County. The company is aiming to invest US$6.9 million in manufacturing of green railroad ties. The processed railway ties will be shipped to North America railroads for use and maintenance of railways. The project is aimed at improving employability and environment simultaneously. Such initiatives are expected to forge a way for upcoming players and existing ones during the forecast years as the global economy continues to focus on fighting emissions.
The major manufacturer covered in the report are Stella-Jones, Koppers, Vossloh, China Railway Material Sleeper of Pingdingshan, Abetong, L.B. Foster, Kirchdorfer Group, Shandong High Speed Rail Equipment Material, Weihai Ruihe Railway Sleeper, Hengchang Railroad Sleeper, Aveng Infraset, Patil Group, The Indian Hume Pipe, Kunming Railway Sleeper, Schwihag, and others.
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