Rail Welding Machines Market Size, Share, Growth, and Industry Analysis by Type (Stationary Type and Mobile Type) By Application (High Speed & Heavy Haul Tracks, Metro Tracks, and Others) Regional Forecast (2022-2028)

REPORT OVERVIEW

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The global rail welding machines market size was USD 71 million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with rail welding machines experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 84 million in 2028, exhibiting a CAGR of 2.9% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Rail welding machines are used for new rail fitting and repairs joining for the current track. Continuous welded rail (CWR) generates an even, constant distance of rail essential for a powerfully working railroad. There are different methods of welding, but the most common is electric flash welding and thermite welding. Flash butt welding is the most trustworthy connection tool for track building and it is a recognized fact that it delivers the lowest failure incidence.

COVID-19 Impact: Supply Chain Disruption and Lockdown Restrictions to Impede Market Progress

The outburst of COVID-19 operated as an enormous limitation on the rail welding machines market in 2020, as supply chains were interrupted owing to trade limitations and consumption dropped owing to lockdowns enforced by administrations globally.

However, the market is expected to recover its development post lockdown, as governments are going to announce many new plans to uphold social distancing, as people will be more worried about the safety and security and fresh air in the bogies in the wake of the pandemic. These events are likely to increase the manufacture of new bogies and essential rail components during the forecast period.

LATEST TRENDS

"Infrastructural Developments to Foster Market Growth"

An upsurge in expansions of metro projects and electrified system railroads will promote prospects for OEMs to develop their profits stream and increase their geographical occurrence. Various factors, such as the rise in funds for rail infrastructure and the development of rail grids in tightly populated regions, will enable the progress of the rail welding machines market. This industry has progressed considerably over the past few years, with an extended applications opportunity, focused on improvements in tools linked with the procedure. Furthermore, the scarcity of welders across the globe is a foremost feature behind the high adoption of robots across major productions. 

Segmentation

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• By Type Analysis

By type, the market is segmented into Stationary Type and Mobile Type.

• By Application Analysis

Based on applications, the market is classified into High Speed & Heavy Haul Tracks, Metro Tracks, and Others.

DRIVING FACTORS

"Technological Advancement to Foster Market Growth"

The increasing adoption of motorized bogie design across the globe. Therefore, many trains, multiple units, such as high-speed trains, and mass transit vehicles are armed with powered bogies.

Rail bogies have seen a share in research and development in recent years. Corporations have been concentrating on constructing safe and effective bogie designs for trains by implanting digital devices that graft on the source of the Internet of Things (IoT).

The Global Railway Engineering Pty Limited showcased its Scheffel Self Steering innovation in the Rail Tech Innovation Awards. It is a three-part self-steering bogie suitable for all rail systems that work with a three-part bogie. According to the manufacturer, their innovation offers fuel-saving, and there are fewer chances of derailment in the component.

"Government Initiatives to Boost Market Growth"

Governments support their railway system by financing and adopting automation tools to augment optimization are anticipated to surge the demand for rail components over the forecast period. Furthermore, independent trains deliver growth prospects for smart railways resolution suppliers are estimated to deal with profitable prospects for the rail welding machines market over the forecast period.

RESTRAINING FACTORS

"High Installation Costs to Hamper Growth "

The high initial cost of utilization and shortage of technology infrastructure & interoperability are projected to hamper the rail welding machines market growth.

REGIONAL INSIGHTS

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"Increasing Population to Foster Market Growth in Asia Pacific"

Asia Pacific is projected to dominate the rail welding machines market share. India is one of the major and fastest rising markets for railway machinery after China. India is creating funds in rolling stock to upgrade its rail transport method. Due to the growing population, intercity trade and traveling, coming metro projects and the addition of current lines, the Indian market is witnessing stable growth.

The upsurge in the adoption of advanced tools leads to the progress of smart cities and smart transport schemes in North America. Therefore, the market will grow in the future. North America has been the major market for diesel freight trains owing to its massive geography that deals with the challenge of electrification of railroads. Owing to the constant adoption of railway management systems and cloud services, the demand for connected rail services is anticipated to develop in North America.

KEY INDUSTRY PLAYERS

"Incorporation of Strategies for Increasing Product Adoption to Help Companies Grow"

Due to numerous significant competitors in the industry, both domestically and internationally, the market is extremely competitive. The market appears to be moderately concentrated, with the leading companies employing product innovation and mergers & acquisitions as a strategy. Furthermore, increasing firms' investments in R&D and creating strategies to create and commercialize innovative products are likely to improve the product portfolio of the market's main competitors during the forecast period.

INDUSTRY DEVELOPMENT

• December 2019: Bombardier won a 26.8 million Euro agreement for renovation, maintenance and upgradation of 59 bombardier Swedish Regina Electric Multiple Units Fleet.

List of Market Players Profiled

• Holland (Italy)
• KZESO (India)
• Plasser & Theurer (Austria)
• Schlatter Group (Germany)
• Progress Rail (U.S.)
• Contrail Machinery (U.S.)
• BAIDIN GmbH (Germany)
• Geismar (France)

REPORT COVERAGE

The report covers a global and regional forecast and analysis of the rail welding machines market. The report looks at the market's drivers and restraints, their effects on demand over the forecast period. In addition, the report looks at the industry's global and regional prospects. By segmenting the market by product type, application, and geography, the study provides a critical viewpoint. Based on existing and predicted trends, the market has been divided into segments.