Metro Train Wheels Market: Introduction
A metro train are fast rapid transit locomotive which are used to transport passengers from one station to another. These metro trains are considered one of the efficient mode of the passenger transportation in the globe with respect to commuting time and cost. The metro train wheels are specifically designed for operation on railway tracks and manufactured precisely for effective day-to-day operations withstanding abrasions or wear outs due to continuous operation and friction on the rail tracks.
These metro train wheels are typically pressed into the axle and are mounted on the metro trains. The metro wheels are typically made from steel, however, there are rubber metro tires used in the global market. The metro wheels need to be periodically monitored so that they remain in shape and are not misaligned. The metro wheels market is estimated to grow with a prominent growth rate as the metro train network increases globally.
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The manufacturers in the global metro train wheels market must strictly adhere the production standards as the safety of the any rail body will always depend on type and the strength of the metro train wheels. There several types of metro train wheels available in the global market, which vary according to the application, size, weight capacity and material of construction. The increasing rail infrastructure as well as the maintenance & inspection of the existing railway lines is projected to be one of the most opportunistic driving factor for the global metro train wheels market over the forthcoming years.
Metro Train Wheels Market: Dynamics
Metro train wheels market is expected to grow with a significant growing CAGR in the coming future and increasing applications globally. Furthermore, the new technologies and invention in the metro train wheels will see rise in the global market. In terms of material type, traditionally cast iron and stainless steel have been the preferred materials, however with chronology advancement emphasis, high durable, lightweight solutions such as rubber and composite based metro train wheels are being introduced into the market in the subsequent years as this concept is being keenly researched at present.
From past years, there has been stagnant growth globally for railway tracks, according to the World Bank data. Additionally, with the increasing air transportation which are very fast for the consumer’s to reach the destination is hampering the market growth for the railways in the global market.
Furthermore, with in some regional markets, due to lack of established metro rail infrastructure the local population are inclined on personal transportation which will further impede the market growth of the metro train wheels. Another restraining factor is that shift towards magnetic levitation (“magnalift”) based trains may compel the metro train manufacturers to opt for wheel-less train models. Such factors are expected to hinder the growth of metro train wheels market during the forecast period.
Metro Train Wheels Market: Regional Outlook
Rail transport infrastructure spending in particularly in developing economic countries is estimated to grow significantly in the coming years, owing to the increasing population and the increase in demand for local commute in the global market. For instance, MEA is estimated to witness a significant growth rate in terms of rail transport infrastructure in the coming years.
Moreover, Asia Pacific remains the fast growth market in terms of rail transportation infrastructure with increasing investments towards the development of the railway infrastructure in the current scenario. This development factors are estimated to create lucrative growth opportunity for the metro train wheels market in the coming future.
Considering metro rail industry, it is estimated that the metro will witness strong growth in the advanced economies of Western Europe where the preference towards the use of public transport for local travel is increasing significantly. High speed railway networks are expected to go further in the development of economies such as the U.K. and Spain. This is expected to increase the metro train wheels demand for use in metro railways, subsequently having a positive impact on the overall global metro wheels market
Stringent rules and regulation regarding the safety of passengers in North America and Europe has increased the demand of metro train wheels in this region which in turn is estimated to accelerate the metro train wheels market in the near future.
Growing use of public transport in the countries like India and China of Asia Pacific region is increasing the growth of metro rails and this is estimated to propel the metro train wheels market in this region. Emerging countries of Middle East Africa is expected to cover the significant market value share in the global metro train wheels market over the estimated period.
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Metro Train Wheels Market: Segmentation
The Metro Train Wheels market can be segmented on the basis of Material type, Passenger Capacity, Technology and Sales Channel
On the basis of Material Type, Metro Train Wheels market can be segmented as
- Stainless Steel
- Cast Iron
- Others (Composites, Alloys)
On the basis of Passenger Capacity, metro train wheels market can be segmented as
- Less than 300
- 300 – 700
- Above 700
On the basis of Technology, metro train wheels market can be segmented as
- Automated Metros
- Conventional Metros
On the basis of sales channel, Metro Train Wheels market can be segmented as
Metro Train Wheels Market: Key market participants
Examples of some of the market participants in the global Metro Train Wheels market identified across the value chain include
- CAF, Premier Ltd.,
- Vyksa Steel Works,