The railway aftermarket is projected to observe robust growth by 2027 on account of rising technological advancements in the railway management sector across the globe.

Railway service and maintenance are crucial to ensure the safety and efficiency of the train equipment. Technological advancements in the field of railway maintenance and increased incorporation of software-based servicing systems have propelled market adoption in recent years.

Get a free sample copy of this research report @ https://www.gminsights.com/request-sample/detail/4511

Moreover, development of innovative devices to track the functioning of the components and update status to engineers remotely, among other uses, have enhanced the overall railway aftermarket outlook. Notably, prominent industry players are employing strategies to monetize emerging market trends by establishing partnerships, mergers, and acquisitions, which has favorably impacted overall business growth.

For instance, in August 2021, Siemens Mobility, a global provider of transportation solutions, announced the acquisition of Sqills, a leading provider of Software-as-a-Service (SaaS) for reservation, ticketing software, and inventory management. With the acquisition, the combination of both enterprises expanded Siemens Mobility's software portfolio, enabling customer's Mobility-as-a-Service (MaaS) offerings. In addition, the deal supported Siemens' objective to increase public transit availability, capacity, and utilization.

In another instance, in January 2021, Alstom SA, a major rolling stock manufacturer, completed the acquisition of Bombardier Transportation, a rail transport company. The takeover allowed Alstom to strengthen its presence in the expanding sustainable mobility market across new regions and adopt further assets and solutions to serve customers better.

The railway aftermarket has been categorized on the basis of product, service provider, subsystem, and region. In terms of subsystem, the market has been segregated into body structures, auxiliary systems, traction & propulsion, rail tracks & equipment, braking systems, bogies/wheelsets & suspension, and others.

The bogies/wheelsets & suspension segment is expected to attain a revenue share of around 25% by 2027. Rising demand for refurbishment and repair, including reprofiling and re-turning of wheelsets, to provide longer wheel life and operating safety is expected to drive segmental adoption in the coming years.

With respect to product, the market has been divided into rail infrastructure and rolling stock & locomotive. The rolling stock & locomotive segment has further been segmented into locomotives, passenger coaches, metro, light rail & trams, freight wagons, and high-speed railways (HSR).

In 2020, the passenger coaches segment accounted for a revenue share of more than 20% and is projected to witness steady growth over 2021-2027 owing to proliferating passenger rail transportation. Additionally, growing rail networks across developing countries is set to spur segmental expansion over the following years.

From the regional point of view, the North America railway aftermarket is predicted to amass substantial gains by 2027, progressing at a CAGR of approximately 4% through the review period. Increasing number of railway network expansion projects in the region is estimated to foster regional market growth in the future.

Request for Customization@ https://www.gminsights.com/roc/4511

Report Content

Chapter 1   Methodology and Scope

1.1    Market definition

1.2    Market estimates & working

1.2.1    North America

1.2.2    Europe

1.2.3    Asia Pacific (APAC)

1.2.4    Latin America (LATAM)

1.2.5    Middle East & Africa (MEA)

1.3    Forecast calculations

1.3.1    Covid-19 impact calculations on industry forecast

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Railway aftermarket industry 360⁰ synopsis, 2017 - 2027

2.1.1    Business trends

2.1.2    Subsystem trends

2.1.3    Product trends

2.1.4    Service provider trends

2.1.5    Regional trends

Chapter 3   Railway Aftermarket Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2017 – 2027

3.3    Industry ecosystem analysis

3.3.1    Raw material suppliers

3.3.2    Manufacturers

3.3.3    Profit margin analysis

3.3.4    Service providers

3.3.5    Value chain disruptions due to COVID-19

3.3.6    Vendor matrix

3.4    Emerging maintenance ecosystem outlook

3.5    Technology landscape

3.5.1    Smart rail maintenance

3.6    Key railway industry statistics

3.6.1    Global railway network by country (kms)

3.6.2    Global rail infrastructure investments by country (USD Billion)

3.6.3    Global rail passenger transport, by country (million passenger-kilometers)

3.6.4    Global freight rail transport, by country (million tonne-kilometers)

3.7    Regulatory landscape

3.7.1    North America

3.7.2    Europe

3.7.3    APAC

3.7.4    LATAM

3.7.5    MEA

3.8    Industry impact forces

3.8.1    Growth drivers

3.8.1.1    Stringent regulations for railway emission reduction

3.8.1.2    Ageing railway fleet

3.8.1.3    Increasing rail freight transportation

3.8.1.4    Technological advancements in railway maintenance

3.8.2    Industry pitfalls & challenges

3.8.2.1    High initial cost of predictive rail asset maintenance

3.9    Innovation and sustainability

3.10    Major global railway expansion and maintenance projects

3.11    Growth potential analysis, 2020

3.12    Porter's analysis

3.13    Competitive landscape, 2020

3.13.1    Company market share analysis, 2020

3.13.2    Key stake holders

3.13.3    Strategy dashboard

3.14    PESTEL analysis

Get Complete Synopsis of the Report @ https://www.gminsights.com/toc/detail/railway-aftermarket