PUBLISHER: The Business Research Company | PRODUCT CODE: 1546574
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546574
Rail joints, also referred to as railway fishplates, play a crucial role in the construction and upkeep of railway tracks. Their primary function is to securely connect two segments of rail, ensuring a continuous and stable track structure. Typically crafted from durable metals such as steel, these joints are bolted onto the rails and serve several essential roles in maintaining the integrity and performance of the rail system.
There are several types of rail joints used in railway fishplates, including common rail joints, compromise rail joints, insulated rail joints, and joggled fishplates. Common rail joints are standard connectors designed to seamlessly join two sections of railway track, facilitating smooth train passage. These joints are crafted from various materials such as steel fishplates and cast iron fishplates, and they are used across different types of rails, including heavy rail and light rail.
The railway fishplates market research report is one of a series of new reports from The Business Research Company that provides railway fishplates market statistics, including railway fishplates industry global market size, regional shares, competitors with a railway fishplates market share, detailed railway fishplates market segments, market trends and opportunities, and any further data you may need to thrive in the railway fishplates industry. This railway fishplates market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The railway fishplate market size has grown steadily in recent years. It will grow from $4.42 billion in 2023 to $4.62 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The increase during the previous period can be linked to a growing need for rail infrastructure, increased investments in railway upgrades and expansions, urbanization and transportation growth, government initiatives, greater use of fishplates in track maintenance and repair, and rising demand for heavy-haul railways.
The railway fishplate market size is expected to see steady growth in the next few years. It will grow to $5.54 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The rise expected in the upcoming period can be attributed to heightened demand for high-speed rail networks, a heightened focus on improving railway safety standards, expansion in railway electrification projects, increased freight transportation activities, and growing interest in sustainable and environmentally friendly transportation. Key trends anticipated in the forecast period include the adoption of high-strength materials, advancements in manufacturing techniques, development of lightweight designs, integration of smart technologies, improvements in corrosion resistance, and the promotion of sustainable practices.
The growing high-speed rail transport sector is expected to boost the railway fishplate market in the future. High-speed rail transport consists of railway systems designed to operate much faster than traditional trains, typically traveling at speeds of 250 km/h (155 mph) or more, with some systems exceeding 300 km/h (186 mph). These trains utilize advanced propulsion, braking, and stability technologies to ensure safety at high speeds. High-speed rail requires specially designed tracks with minimal curves and grade crossings to accommodate high velocities. Fishplates play a crucial role in supporting high-speed rails by securely joining and reinforcing rail segments at junctions, ensuring smooth transitions and stability necessary for high-speed travel. For example, in January 2024, Eurostar International Ltd., a UK-based railway company, reported transporting 18.6 million passengers in 2023, a 22% increase from 2022. Therefore, the rise in high-speed rail transport is driving the growth of the railway fishplate market.
Major companies in the railway fishplate market are developing new facilities to produce insulated rail joints to meet the growing demand for advanced railway infrastructure solutions. These facilities focus on manufacturing high-quality insulated rail joints, which are crucial for electrical isolation between rail segments. For instance, in February 2023, L.B. Foster, a US-based company specializing in rail and infrastructure products and services, opened a new facility in Juiz de Fora, Brazil, to produce bonded insulated rail joints. This facility is dedicated to manufacturing high-performance bonded insulated rail joints essential for the safe and reliable operation of rail networks. The manufacturing process involves cutting steel rail into sections, placing an insulating material (Kevlar) between the halves, and bonding the components with high-integrity epoxy.
In 2021, Forlam-Rail, a railway equipment company based in France, entered into a partnership with Martin Schienentechnik KG, based in Austria. This strategic alliance was forged with the goal of strengthening Forlam-Rail's market position. The partnership focuses on expanding their product offerings and enhancing global distribution capabilities within the railway industry. Martin Schienentechnik KG specializes in manufacturing railway track components and providing infrastructure solutions related to rail networks.
Major companies operating in the railway fishplate market are ArcelorMittal S.A., Voestalpine AG, Balfour Beatty plc, Progress Rail Services Corporation, Koppers Holdings Inc., Unipart Group Limited, L.B. Foster, Royal Infraconstru Ltd, Anyang General International Co. Ltd, Henry Williams Limited, Pandrol Limited, Schwihag AG, Monteferro USA Inc. LLC, Jiangsu Railteco Equipment Co. Ltd., Jekay International Track Pvt Ltd, Geismar SAS, Bhaskar Industries Pvt Ltd, LINSINGER Maschinenbau GmbH, Harmer Steel Products Company, Taicang Zhongbo Railway Fastening Co. Ltd., Techma Engineering Enterprise Private Limited, Shanghai Suyu Railway Material Co. Ltd., Surya Alloy Industries Limited, Linzhou Changda Railway Materials Co. Ltd., N. Mohanlal Railtrack Pvt. Ltd
North America was the largest region in the railway fishplate market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the railway fishplate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the railway fishplate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The railway fishplates market consists of sales of joint bars, splice bars, and angle bars. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Railway Fishplate Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on railway fishplate market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for railway fishplate ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The railway fishplate market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.