LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global rail track components market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global rail track components market will grow at a CAGR of close to 10% during the forecast period. The rising demand for rail logistics is a major factor driving the market’s growth.
Rail transportation is becoming an ideal choice for various manufacturers across various business segments. Vendors and manufacturers prefer rail transportation over road transportation. This trend can be attributed to infrastructure deficiencies, unstable fuel prices, and driver shortage. Furthermore, government policies that restrict the number of hours a driver can be on the road and limiting the movement of heavy trucks during specific periods of the day are also driving the demand for rail transportation.
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In this report, Technavio highlights regenerative braking energy as one of the key emerging trends driving the global rail track components market:
Regenerative braking energy
Electric railways worldwide are a fast and quiet means of transport when compared with diesel powered trains. When a brake is applied in electric trains, the energy of a moving train is lost. To capture the energy that is lost during braking is an easy task, but to redistribute it efficiently through the power grid is an arduous task. Research is being conducted to efficiently capture and redistribute the energy lost during braking by use of smart grids. In conventional electric trains, the electrical energy produced during braking is fed to a third rail with limited capacity.
“According to a senior analyst at Technavio for construction research, “Pilot projects are under process in various parts of the world, wherein the braking energy is captured using a battery storage system. Apart from providing additional capacity, the banks of batteries can efficiently feed it back to the regional power grid. This provides extra electricity to grids falling short of power.”
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Global rail track components market segmentation
This market research report segments the global rail track components market based on the different type of products (rail sleepers, rail fasteners, and rail fishplates) and key regions (the Americas, APAC, and EMEA).
In 2017, APAC accounted for the largest market share in the global rail track components market, whereas the Americas and EMEA held the second largest and the least share, respectively. APAC held a market share of more than 39%, which is projected to increase by a further 2% by 2022. The other two regions are expected to witness a small but steady decline in their market shares over the forecast period.
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