Railway Sleepers Market to Reach a Revenue of US$ 19.3 Bn by the end of 2032

Railway Sleepers Market 2022

The global railway sleepers market was valued at US$ 10.6 Bn at the end of 2021 and to reach a revenue of US$ 19.3 Bn by the end of 2032. Sales of railway sleepers are slated to surge at a CAGR of around 5.7% from 2022 to 2032. Wooden rail sleepers are still the most sought-after across the world.

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Starting with the overview of Railway Sleepers Market, it presents an overall analysis of the latest trends that are prevalent in the industry. The report begins with the description of the market surroundings and the analysis of the size and forecast of product or service based on regions and applications. In addition to it, the report also introduces the market competitive landscape among the vendors and manufacturers that contribute to the growth of the product or service.

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.

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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.

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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.