Freight Railcar Parts Market

Freight Railcar Parts Market Size, Share, Growth Analysis, By type(Autocar, Box Car), By Distribution channel(OEM, Aftermarket), By Component(Gears, Wheels), By Region(North America, Europe) - Industry Forecast 2024-2031

Report ID: UCMIG10F2015 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Freight Railcar Parts Market Insights

Market Overview:

The market for freight railcar parts witnessed significant growth in 2021, surpassing a value of USD 10,009.9 million. Furthermore, it is projected to maintain a steady compound annual growth rate (CAGR) of approximately 4.8% from 2022 to 2030. This sustained growth indicates a positive trend in the industry, emphasizing the increasing demand and investment in freight railcar parts over the next decade.

Freight Railcar Parts Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
ForecastGrowthRate
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Oil & Gas Storage & Transportation by segment aggregation, the contribution of the Oil & Gas Storage & Transportation in Energy Fuel and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

Segmentation Analysis:

The Freight Railcar Parts Market is segmented by type, Distribution channel, Component, Region. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

Freight Railcar Parts Market Basis Point Share Analysis, 2021 Vs. 2028
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  • Based on type the market is segmented as, Autocar, Box Car, Center Beam, Covered Hopper, Coil Car, Flat Car, Gondola, Open to Hopper, Refrigerant Boxcar, Tank cars, Others
  • Based on Distribution channel the market is segmented as, OEM, Aftermarket
  • Based on Component the market is segmented as, Gears, Wheels, Axles and Bearings, Side Frames, Draft Systems, Couplers & Yokes, Airbrakes, Others
  • Based on Region the market is segmented as, North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Regional Analysis:

Freight Railcar Parts Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.

Freight Railcar Parts Market Attractiveness Analysis, By Region 2020-2028
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Freight Railcar Parts Market : Risk Analysis

SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Freight Railcar Parts Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Freight Railcar Parts Market's supply chain, distribution, and total revenue growth.

Competitive landscaping:

To understand the competitive landscape, we are analyzing key Freight Railcar Parts Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Freight Railcar Parts Market.

To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.

Key Players Covered in the Report:

  • ends
  • Freight Railcar Parts Market size exceeded USD 10,009.9 million in 2021 and is estimated to exhibit nearly 4.8% CAGR from 2022 to 2030. The expansion of freight train fleet scope and improving business productivity in large & dense cities globally will encourage the demand. The movement of huge volumes of goods will not only decrease congestion but also save valuable space and generate broader economic benefits such as agglomeration effects.
  • According to the International Union of Railways (UIC), freight & passenger revenues witnessed a loss of about USD 120 billion in 2020 & 2021 combined due to government-imposed restrictions and lockdowns. Major restrictions on services and citizen movements have resulted in a decline in rail passenger volume by roughly 80% during the lockdown period globally. For freight operations, the predicted volume loss ranged between 10% and 15% for most of the operators. These trends significantly delayed new orders & ongoing projects and negatively influenced the product demand in 2020; however, the market is likely to rebound with the normalization of regular railway services.
  • Growth Drivers:Rising demand for railcar and increasing production Developments in the Asia Pacific railway industry Demand for railcar parts increasing due to replacement cyclePitfalls & Challenges:REnergy-efficient and environmental manufacturing norms Fluctuating raw material prices
  • Rising transportation of agriculture goods will drive the freight railcar parts market growth
  • The covered hopper type segment will account for around USD 4.5 billion in freight railcar parts market by 2030. The increasing transportation of bulk commodities by train will boost the segment growth. According to the Japan Association of Rolling Stock Industries (JARi), in 2020, 26% of the freight rail cars were used for the transportation of agriculture and foodstuff goods.
  • The rising demand for high-speed freight trains
  • The OEM segment from freight railcar parts industry is projected to reach about USD 4.5 billion by 2030. Development is attributed to the growing demand for high-speed freight trains across developed economies along with an increasing scope for new cargo trains. Moreover, long-standing partnership with freight railcar manufacturers coupled with purchase agreements, bulk orders and after-sales services will further strengthen the segment progress.
  • The demand for new railcar parts is credited to both the incremental growth of the fleet and the replacement of old cars. The industry has recently been building new tank cars and hoppers for the transportation of goods. However, given a constant rail traffic, railcars wagons are needed to be exchanged as they are not efficient and can lead to accident. Additionally, the Federal Railroad Administration (FRA) & the Association of American Railroads (AAR) has limited the revenue service lives of railcars to 50 years and most rail cars retire for economic reasons long before their age, which will positively impact the freight railcar parts market demand.
  • The tank cars segment to hold a substantial market share
  • The tank cars segment is poised to register gains of over 5% through 2030. Tank cars are used in the transportation of liquid commodities such as chemicals, molasses, edible tallow, water, diesel fuel, and ethanol. They differ from non-pressurized and pressurized tank cars. Non-pressurized tank cars are designed to transport all types of liquid materials from food-grade to hazardous liquid. On the other hand, few are even equipped with thermal protection and insulation.
  • North America to observe prominent growth
  • North America freight railcar parts market will acquire more than 35% of the revenue share by 2030 led by expanding regional freight rail connectivity. The freight railway sector showed its resilience by efficiently handling the volatility and uncertainty presented by the COVID-19 epidemic. Furthermore, increasing R&D investments in the development of new material railcar parts together with technological advancements will significantly augment the regional industry statistics.
  • The freight railcar parts industry to be highly competitive
  • Some of the major freight railcar parts market players are FreightCar America Inc., Penn Machine Company, Greenbrier Companies, Trinity Industries Inc., Wabtec Corporation, New York Air Brake LLC, Progress Rail, and Amsted Rail.
  • The industry is highly competitive with the presence of several regional & country-level manufacturers and suppliers. The key players accounted for approximately half of the overall industry share. Major freight railcar parts manufacturers are engaged in partnerships with freight wagon producers or railway operators to gain a competitive edge in comparison to other companies. With an increasing demand for freight wagons, many players are investing in the expansion of manufacturing facilities to gain a modest advantage.
  • KEY MARKET SEGMENTS
  • By type
  • Autocar
  • Box Car
  • Center Beam
  • Covered Hopper
  • Coil Car
  • Flat Car
  • Gondola
  • Open to Hopper
  • Refrigerant Boxcar
  • Tank cars
  • Others
  • By Distribution channel
  • OEM
  • Aftermarket
  • By Component
  • Gears
  • Wheels, Axles and Bearings
  • Side Frames
  • Draft Systems
  • Couplers & Yokes
  • Airbrakes
  • Others
  • By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

SkyQuest's Expertise:

The Freight Railcar Parts Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.

Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.

Scope Of Report

Report Attribute Details
The base year for estimation 2021
Historical data 2016 – 2022
Forecast period 2022 – 2028
Report coverage Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
Segments covered
  • By type - Autocar, Box Car, Center Beam, Covered Hopper, Coil Car, Flat Car, Gondola, Open to Hopper, Refrigerant Boxcar, Tank cars, Others
  • By Distribution channel - OEM, Aftermarket
  • By Component - Gears, Wheels, Axles and Bearings, Side Frames, Draft Systems, Couplers & Yokes, Airbrakes, Others
  • By Region - North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Regional scope North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
Country scope U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa
Key companies profiled
  • ends
  • Freight Railcar Parts Market size exceeded USD 10,009.9 million in 2021 and is estimated to exhibit nearly 4.8% CAGR from 2022 to 2030. The expansion of freight train fleet scope and improving business productivity in large & dense cities globally will encourage the demand. The movement of huge volumes of goods will not only decrease congestion but also save valuable space and generate broader economic benefits such as agglomeration effects.
  • According to the International Union of Railways (UIC), freight & passenger revenues witnessed a loss of about USD 120 billion in 2020 & 2021 combined due to government-imposed restrictions and lockdowns. Major restrictions on services and citizen movements have resulted in a decline in rail passenger volume by roughly 80% during the lockdown period globally. For freight operations, the predicted volume loss ranged between 10% and 15% for most of the operators. These trends significantly delayed new orders & ongoing projects and negatively influenced the product demand in 2020; however, the market is likely to rebound with the normalization of regular railway services.
  • Growth Drivers:Rising demand for railcar and increasing production Developments in the Asia Pacific railway industry Demand for railcar parts increasing due to replacement cyclePitfalls & Challenges:REnergy-efficient and environmental manufacturing norms Fluctuating raw material prices
  • Rising transportation of agriculture goods will drive the freight railcar parts market growth
  • The covered hopper type segment will account for around USD 4.5 billion in freight railcar parts market by 2030. The increasing transportation of bulk commodities by train will boost the segment growth. According to the Japan Association of Rolling Stock Industries (JARi), in 2020, 26% of the freight rail cars were used for the transportation of agriculture and foodstuff goods.
  • The rising demand for high-speed freight trains
  • The OEM segment from freight railcar parts industry is projected to reach about USD 4.5 billion by 2030. Development is attributed to the growing demand for high-speed freight trains across developed economies along with an increasing scope for new cargo trains. Moreover, long-standing partnership with freight railcar manufacturers coupled with purchase agreements, bulk orders and after-sales services will further strengthen the segment progress.
  • The demand for new railcar parts is credited to both the incremental growth of the fleet and the replacement of old cars. The industry has recently been building new tank cars and hoppers for the transportation of goods. However, given a constant rail traffic, railcars wagons are needed to be exchanged as they are not efficient and can lead to accident. Additionally, the Federal Railroad Administration (FRA) & the Association of American Railroads (AAR) has limited the revenue service lives of railcars to 50 years and most rail cars retire for economic reasons long before their age, which will positively impact the freight railcar parts market demand.
  • The tank cars segment to hold a substantial market share
  • The tank cars segment is poised to register gains of over 5% through 2030. Tank cars are used in the transportation of liquid commodities such as chemicals, molasses, edible tallow, water, diesel fuel, and ethanol. They differ from non-pressurized and pressurized tank cars. Non-pressurized tank cars are designed to transport all types of liquid materials from food-grade to hazardous liquid. On the other hand, few are even equipped with thermal protection and insulation.
  • North America to observe prominent growth
  • North America freight railcar parts market will acquire more than 35% of the revenue share by 2030 led by expanding regional freight rail connectivity. The freight railway sector showed its resilience by efficiently handling the volatility and uncertainty presented by the COVID-19 epidemic. Furthermore, increasing R&D investments in the development of new material railcar parts together with technological advancements will significantly augment the regional industry statistics.
  • The freight railcar parts industry to be highly competitive
  • Some of the major freight railcar parts market players are FreightCar America Inc., Penn Machine Company, Greenbrier Companies, Trinity Industries Inc., Wabtec Corporation, New York Air Brake LLC, Progress Rail, and Amsted Rail.
  • The industry is highly competitive with the presence of several regional & country-level manufacturers and suppliers. The key players accounted for approximately half of the overall industry share. Major freight railcar parts manufacturers are engaged in partnerships with freight wagon producers or railway operators to gain a competitive edge in comparison to other companies. With an increasing demand for freight wagons, many players are investing in the expansion of manufacturing facilities to gain a modest advantage.
  • KEY MARKET SEGMENTS
  • By type
  • Autocar
  • Box Car
  • Center Beam
  • Covered Hopper
  • Coil Car
  • Flat Car
  • Gondola
  • Open to Hopper
  • Refrigerant Boxcar
  • Tank cars
  • Others
  • By Distribution channel
  • OEM
  • Aftermarket
  • By Component
  • Gears
  • Wheels, Axles and Bearings
  • Side Frames
  • Draft Systems
  • Couplers & Yokes
  • Airbrakes
  • Others
  • By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Customization scope Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options Reap the benefits of customized purchase options to fit your specific research requirements.

Objectives of the Study

  • To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
  • To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
  • To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
  • To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
  • To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market

What does this Report Deliver?

  • Market Estimation for 20+ Countries
  • Historical data coverage: 2016 to 2022
  • Growth projections: 2022 to 2028
  • SkyQuest's premium market insights: Innovation matrix, IP analysis, Production Analysis, Value chain analysis, Technological trends, and Trade analysis
  • Customization on Segments, Regions, and Company Profiles
  • 100+ tables, 150+ Figures, 10+ matrix
  • Global and Country Market Trends
  • Comprehensive Mapping of Industry Parameters
  • Attractive Investment Proposition
  • Competitive Strategies Adopted by Leading Market Participants
  • Market drivers, restraints, opportunities, and its impact on the market
  • Regulatory scenario, regional dynamics, and insights of leading countries in each region
  • Segment trends analysis, opportunity, and growth
  • Opportunity analysis by region and country
  • Porter's five force analysis to know the market's condition
  • Pricing analysis
  • Parent market analysis
  • Product portfolio benchmarking

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Freight Railcar Parts Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Freight Railcar Parts Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)
  • ends
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Freight Railcar Parts Market size exceeded USD 10,009.9 million in 2021 and is estimated to exhibit nearly 4.8% CAGR from 2022 to 2030. The expansion of freight train fleet scope and improving business productivity in large & dense cities globally will encourage the demand. The movement of huge volumes of goods will not only decrease congestion but also save valuable space and generate broader economic benefits such as agglomeration effects.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • According to the International Union of Railways (UIC), freight & passenger revenues witnessed a loss of about USD 120 billion in 2020 & 2021 combined due to government-imposed restrictions and lockdowns. Major restrictions on services and citizen movements have resulted in a decline in rail passenger volume by roughly 80% during the lockdown period globally. For freight operations, the predicted volume loss ranged between 10% and 15% for most of the operators. These trends significantly delayed new orders & ongoing projects and negatively influenced the product demand in 2020; however, the market is likely to rebound with the normalization of regular railway services.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Growth Drivers:Rising demand for railcar and increasing production Developments in the Asia Pacific railway industry Demand for railcar parts increasing due to replacement cyclePitfalls & Challenges:REnergy-efficient and environmental manufacturing norms Fluctuating raw material prices
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rising transportation of agriculture goods will drive the freight railcar parts market growth
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The covered hopper type segment will account for around USD 4.5 billion in freight railcar parts market by 2030. The increasing transportation of bulk commodities by train will boost the segment growth. According to the Japan Association of Rolling Stock Industries (JARi), in 2020, 26% of the freight rail cars were used for the transportation of agriculture and foodstuff goods.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The rising demand for high-speed freight trains
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The OEM segment from freight railcar parts industry is projected to reach about USD 4.5 billion by 2030. Development is attributed to the growing demand for high-speed freight trains across developed economies along with an increasing scope for new cargo trains. Moreover, long-standing partnership with freight railcar manufacturers coupled with purchase agreements, bulk orders and after-sales services will further strengthen the segment progress.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The demand for new railcar parts is credited to both the incremental growth of the fleet and the replacement of old cars. The industry has recently been building new tank cars and hoppers for the transportation of goods. However, given a constant rail traffic, railcars wagons are needed to be exchanged as they are not efficient and can lead to accident. Additionally, the Federal Railroad Administration (FRA) & the Association of American Railroads (AAR) has limited the revenue service lives of railcars to 50 years and most rail cars retire for economic reasons long before their age, which will positively impact the freight railcar parts market demand.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The tank cars segment to hold a substantial market share
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The tank cars segment is poised to register gains of over 5% through 2030. Tank cars are used in the transportation of liquid commodities such as chemicals, molasses, edible tallow, water, diesel fuel, and ethanol. They differ from non-pressurized and pressurized tank cars. Non-pressurized tank cars are designed to transport all types of liquid materials from food-grade to hazardous liquid. On the other hand, few are even equipped with thermal protection and insulation.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • North America to observe prominent growth
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • North America freight railcar parts market will acquire more than 35% of the revenue share by 2030 led by expanding regional freight rail connectivity. The freight railway sector showed its resilience by efficiently handling the volatility and uncertainty presented by the COVID-19 epidemic. Furthermore, increasing R&D investments in the development of new material railcar parts together with technological advancements will significantly augment the regional industry statistics.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The freight railcar parts industry to be highly competitive
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Some of the major freight railcar parts market players are FreightCar America Inc., Penn Machine Company, Greenbrier Companies, Trinity Industries Inc., Wabtec Corporation, New York Air Brake LLC, Progress Rail, and Amsted Rail.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The industry is highly competitive with the presence of several regional & country-level manufacturers and suppliers. The key players accounted for approximately half of the overall industry share. Major freight railcar parts manufacturers are engaged in partnerships with freight wagon producers or railway operators to gain a competitive edge in comparison to other companies. With an increasing demand for freight wagons, many players are investing in the expansion of manufacturing facilities to gain a modest advantage.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • KEY MARKET SEGMENTS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By type
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Autocar
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Box Car
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Center Beam
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Covered Hopper
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Coil Car
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Flat Car
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Gondola
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Open to Hopper
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Refrigerant Boxcar
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Tank cars
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Others
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
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    • Exhibit Key Developments
  • By Distribution channel
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • OEM
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
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    • Exhibit Key Developments
  • Aftermarket
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Component
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Gears
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Wheels, Axles and Bearings
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Side Frames
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Draft Systems
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Couplers & Yokes
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Airbrakes
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Others
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Region
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • North America
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Europe
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Asia Pacific
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Latin America
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Middle East & Africa
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments

Methodology

For the Freight Railcar Parts Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Freight Railcar Parts Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Freight Railcar Parts Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Freight Railcar Parts Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

The market for Freight Railcar Parts was estimated to be valued at US$ XX Mn in 2021.

The Freight Railcar Parts Market is estimated to grow at a CAGR of XX% by 2028.

The Freight Railcar Parts Market is segmented on the basis of type, Distribution channel, Component, Region.

Based on region, the Freight Railcar Parts Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the Freight Railcar Parts Market are ends , Freight Railcar Parts Market size exceeded USD 10,009.9 million in 2021 and is estimated to exhibit nearly 4.8% CAGR from 2022 to 2030. The expansion of freight train fleet scope and improving business productivity in large & dense cities globally will encourage the demand. The movement of huge volumes of goods will not only decrease congestion but also save valuable space and generate broader economic benefits such as agglomeration effects. , According to the International Union of Railways (UIC), freight & passenger revenues witnessed a loss of about USD 120 billion in 2020 & 2021 combined due to government-imposed restrictions and lockdowns. Major restrictions on services and citizen movements have resulted in a decline in rail passenger volume by roughly 80% during the lockdown period globally. For freight operations, the predicted volume loss ranged between 10% and 15% for most of the operators. These trends significantly delayed new orders & ongoing projects and negatively influenced the product demand in 2020; however, the market is likely to rebound with the normalization of regular railway services. , Growth Drivers:Rising demand for railcar and increasing production Developments in the Asia Pacific railway industry Demand for railcar parts increasing due to replacement cyclePitfalls & Challenges:REnergy-efficient and environmental manufacturing norms Fluctuating raw material prices , Rising transportation of agriculture goods will drive the freight railcar parts market growth , The covered hopper type segment will account for around USD 4.5 billion in freight railcar parts market by 2030. The increasing transportation of bulk commodities by train will boost the segment growth. According to the Japan Association of Rolling Stock Industries (JARi), in 2020, 26% of the freight rail cars were used for the transportation of agriculture and foodstuff goods. , The rising demand for high-speed freight trains , The OEM segment from freight railcar parts industry is projected to reach about USD 4.5 billion by 2030. Development is attributed to the growing demand for high-speed freight trains across developed economies along with an increasing scope for new cargo trains. Moreover, long-standing partnership with freight railcar manufacturers coupled with purchase agreements, bulk orders and after-sales services will further strengthen the segment progress. , The demand for new railcar parts is credited to both the incremental growth of the fleet and the replacement of old cars. The industry has recently been building new tank cars and hoppers for the transportation of goods. However, given a constant rail traffic, railcars wagons are needed to be exchanged as they are not efficient and can lead to accident. Additionally, the Federal Railroad Administration (FRA) & the Association of American Railroads (AAR) has limited the revenue service lives of railcars to 50 years and most rail cars retire for economic reasons long before their age, which will positively impact the freight railcar parts market demand. , The tank cars segment to hold a substantial market share , The tank cars segment is poised to register gains of over 5% through 2030. Tank cars are used in the transportation of liquid commodities such as chemicals, molasses, edible tallow, water, diesel fuel, and ethanol. They differ from non-pressurized and pressurized tank cars. Non-pressurized tank cars are designed to transport all types of liquid materials from food-grade to hazardous liquid. On the other hand, few are even equipped with thermal protection and insulation. , North America to observe prominent growth , North America freight railcar parts market will acquire more than 35% of the revenue share by 2030 led by expanding regional freight rail connectivity. The freight railway sector showed its resilience by efficiently handling the volatility and uncertainty presented by the COVID-19 epidemic. Furthermore, increasing R&D investments in the development of new material railcar parts together with technological advancements will significantly augment the regional industry statistics. , The freight railcar parts industry to be highly competitive , Some of the major freight railcar parts market players are FreightCar America Inc., Penn Machine Company, Greenbrier Companies, Trinity Industries Inc., Wabtec Corporation, New York Air Brake LLC, Progress Rail, and Amsted Rail. , The industry is highly competitive with the presence of several regional & country-level manufacturers and suppliers. The key players accounted for approximately half of the overall industry share. Major freight railcar parts manufacturers are engaged in partnerships with freight wagon producers or railway operators to gain a competitive edge in comparison to other companies. With an increasing demand for freight wagons, many players are investing in the expansion of manufacturing facilities to gain a modest advantage. , KEY MARKET SEGMENTS , By type , Autocar , Box Car , Center Beam , Covered Hopper , Coil Car , Flat Car , Gondola , Open to Hopper , Refrigerant Boxcar , Tank cars , Others , By Distribution channel , OEM , Aftermarket , By Component , Gears , Wheels, Axles and Bearings , Side Frames , Draft Systems , Couplers & Yokes , Airbrakes , Others , By Region , North America , Europe , Asia Pacific , Latin America , Middle East & Africa.

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Freight Railcar Parts Market

Product ID: UCMIG10F2015

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