Railway Bearing Market: Introduction
Railway Bearing is a component that is used to reduce load as well as friction between the moving or rotating parts in a train/rolling stock. Railway bearing reduces the axial as well as radial load and improve the fuel efficiency of the train. There are different types of bearings such as roller bearing, ball bearing and plain bearing that are used in various application according to the requirement. Railway Bearing are used for various purpose in both internal and external applications such as doors, transmission panel, wheels, etc. Moreover, now a days, the demand for the high speed trains, metro trains and special trains which directly affect the growth of railway bearing market.
Railway Bearing Market: Dynamics
Growing population in metropolitan areas and increasing number of office workers, particularly in developing countries, are projected to drive the global railway industry during the forecast period. Railways are an integral part of the public transportation system across the globe and will play a key role in future due to increasing public density, urbanization and changing travel behaviour across the world. These factors are expected to boost the growth of the railway bearing market over the forecast period. In urban economies, governments are focusing on investing hefty money to promote the introduction of large-scale transport infrastructure, such as high-speed rails and bullet trains, to make passenger transport faster. Government investments on railways will directly increase the demand for railway bearings and will boost the growth of global railway bearing market. Moreover, the European and Japanese railway networks use solar-powered rails in fix railway routes. The European government has planned to install solar PV array in 15% of the train network across East Sussex, Kent and West Sussex. The aim of this plan is to reduce the consumption of electricity in these particular cities. Increasing demand for new solar powered trains is anticipated to fuel the demand for railway bearing market during the forecast period
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Railway Bearing Market: Segmentation
The global railway bearing market can be segmented on the basis of bearing type, train type, application and sales channel
On the basis of bearing type, railway bearing market can be segmented as:
- Roller Bearing
- Ball Bearing
- Plain Bearing
On the basis of train type, railway bearing market can be segmented as:
- Very High Speed Train
- Mainline train
- Metro Train
- Freight Train
- Special Train
On the basis of application, railway bearing market can be segmented as:
- Engine
- Wheels
- Interior
- Exterior
On the basis of sales channel, railway bearing market can be segmented as:
- Original Equipment Manufacturer (OEM)
- Aftermarket
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Railway Bearing Market: Regional Outlook
Increasing awareness regarding public transportation in the developing regions such as China, India is one of the key factor for the growth of railway bearing market. China and India are expected to dominate the railway bearing market owing to widespread and longest railway network. The rail networks of China and India are among the biggest railway networks in the world. In India, passenger train are mainly used mode of transportation for long distance and with the developing infrastructure of the country, the demand for new trains also increased which in turn, is expected to fuel the growth of the railway bearing market over the forecast period. Furthermore, developed region such as Japan is estimated to hold significant share in the railway bearing market due to growing metro-line and high speed train projects in the region. Europe and North America are projected to witness healthy growth in the nearby future. Moreover, positive economic growth expectation from developing countries of Latin America is projected for a significant growth due to improving infrastructure of the region
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Railway Bearing Market: Market Participants
Examples of some of the market participants in the global railway bearing Market, identified across the value chain include:
- NSK Ltd.
- The Timken Company
- JTEKT Corporation
- NBC Bearing
- Amsted Rail Company, Inc
- NTN Corporation
- Luoyang Bearing Science & Technology Co.,Ltd.
- AB Axis Company Limited.
- SKF AB
- LYC Bearing Corporation