New York, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Train And Components Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009742/?utm_source=GNW
77 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $286.2 billion in 2025 at a CAGR of 8%.

The train and components market consists of sales of trains and components and related services by entities (organizations, sole traders and partnerships) that produce and rebuild locomotives, locomotive frames and parts, railroad, street, and rapid transit cars and car equipment for operation on rails for freight and passenger service; and/or rail layers, ballast distributors, rail tamping equipment and other railway track maintenance equipment. The train and components market is segmented into locomotives, wagons, & other rolling stock and parts & accessories for railway vehicles.

Western Europe was the largest region in the global train and components market, accounting for 41% of the market in 2020. Asia Pacific was the second largest region accounting for 39% of the global train and components market. Africa was the smallest region in the global train and components market.

Locomotive parts manufacturers are using nose suspension drivers as they reduce the shock loads due to tensile coupling between motor shaft and axle. Nose suspension drive is a mechanism used in electric railcars, which supports half of the weight of the traction motor by wheel axle made of metal and the rest by a bogie frame. The electric motor when integrated with nose mounted traction motor reduces the shock and vibrations caused due to irregularity in the track. For instance, some of the major companies manufacturing these systems include WINDHOFF Bahn- und Anlagentechnik GmbH, Afcons Infrastructure Ltd and Balfour Beatty Rail Ltd.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the train and components manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Transportation manufacturers depend heavily on supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to lack of parts and components. Also, sales of new automobiles decreased significantly due to decline in consumer demand as many countries impose lockdowns. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the train and components manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy

Economic growth and a rapidly growing urban population is expected to increase the demand for new train and components manufacturing, during the forecast period. Urbanization increases the demand for luxurious items among the population. Globally, around 60% of the urban settlements remained to be built. Large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam and the Philippines which are becoming increasing popular for export-oriented manufacturing. According to the World Bank, urban population in South Asia is expected to grow by 250 million by 2030. This rapid urbanization is expected to boost the growth of train and components manufacturing market.

Read the full report: https://www.reportlinker.com/p06009742/?utm_source=GNW

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