Railway Wheel
The train wheel is an important component of the train, as it is constructed specifically for usage on rail lines. The wheel is a moving component that is normally pressed onto an axle and fitted directly on a locomotive or railway carriage. After Covid-19, the railway wheel global market is longing to increase once again.
Wheels are also cast or forged and heat-treated to a specified hardness before being machined to a defined form, known as a profile, and then mounted into an axle. In addition, one side of the train wheels has a curved projection and flange to keep the train on the rail track. As a safety element, the flanges are only used as a last option to keep the wheels from being derailed.
Wagon wheels, passenger car wheels, metro , and locomotive wheels are the four types of railway wheels. Wagon wheels have thread brakes and are meant to operate at speeds up to 120 km/hr, whereas passenger vehicle wheels have disc brakes and are designed to run at speeds more than 120 km/hr.
The number of wheels per locomotive varies depending on the locomotive’s size and load-bearing capabilities. Furthermore, the wheels and axles are attached to a chassis known as a bogie. The entire assembly of the bogie, which includes the suspension, wheel, brakes, and other components and is attached to the railway carriage or coach.
Railway Wheel Market Size Analysis
The growth of the worldwide railway wheel market is being fueled by the addition of new railway projects, which has increased locomotive and bogie manufacturing, as well as an increase in the number of rail passengers and freight traffic.
Furthermore, the increased focus on electrification of train lines in emerging nations has expedited market expansion. Smart railway stations have sprung up in a number of developing nations in recent years. Various governments are attempting to renovate their rail transportation hubs in order to improve the efficiency of their railway stations.
The International Union of Railways (UIC) and ADIF, the Spanish rail infrastructure management, have teamed together to realize the aim of “Smart Stations in Smart Cities.” The Ministry of Railways and the Ministry of Urban Development in India have partnered to realize the smart city objective.
Furthermore, governments in major cities are focusing significant resources on encouraging the installation of large-scale public transportation infrastructure, like bullet trains and high-speed trains, to make public transportation more efficient. All of these factors are projected to drive the rail wheel and axle market to greater heights in the future years.
Railway Wheel Global Market Prediction For 2026
Despite the COVID-19 crisis, the global market for Railway Wheel – monoblocks – which was forecast to be worth US$3.1 billion in 2020, is expected to increase at a CAGR of 4.4 percent to reach US$4 billion by 2026. The global market of monoblocks is expected to grow at a rate of 4.6 percent per year and reach US$3.3 billion by the end of the forecast period.
In the year 2021, the rail wheel and axle market in the United States is expected to be worth US$553.4 million. China, the world’s second-biggest economy, is expected to reach a market size of US$878 million by 2026, representing a CAGR (Compound annual growth rate) of 6% throughout the study period.
Japan and Canada are two additional important geographic markets, with forecasted growth rates of 2.9 percent and 3.8 percent, respectively, throughout the research period. Germany is expected to expand at a CAGR of around 3.3 percent in Europe.
Bright Future for Railway Wheel Global Market Is Coming
Because of increased locomotive production, technical developments, and attempts to update rail infrastructure, the market is likely to grow steadily over the long term. The expansion in locomotive and bogie production in both developed and emerging nations, primarily in China, Russia, Mexico, and Germany, is expected to promote market growth.
The industry is also aided by the growth of the railway network to connect rural communities in less developed and emerging regions. While the increasing network of OEMs provides new potential opportunities, technical advancements in train and network systems are projected to support market growth.
Various market players are engaging in R&D initiatives to develop lightweight materials for short-distance, passenger, and freight train railway wheels. Railway OEMs are incorporating modern technologies such as big data analytics to improve their service offerings.
The global market for railway wheels is expected to be boosted by an increased population in major cities and an increase in office workers, particularly in emerging nations. Railways are expected to be an important part of the public transportation system, with increasing urbanization and public density, as well as changing travel behavior, implying that they will continue to play an important role.
People Are Fond of Travelling via Railway Hubs
Governments are anticipated to update infrastructure for speedier passenger transportation as the usage of rail networks for commuting grows. The government’s initiatives to build smart cities and smart railway infrastructure are sure to provide the sector with a boost.
Large-scale public transportation infrastructure investments, such as bullet trains and high-speed trains, are projected to make public transportation more convenient and quicker. The need for rail wheels and axles is expected to rise as the manufacture of bullet and high-speed trains increases.
Iran’s share from railway global market
The majority of Iran’s transportation is by road. The government intends to use rail to convey 3.5 percent of passengers and 8.5 percent of freight. There are plans for extensive electrification. According to the Ministry of R&T, the railway network increases by around 500 kilometers every year. Iran’s railway lines are expected to reach 15,000 kilometers by 2015 and 25,000 kilometers by 2025, according to plans, which shows that Iran’s railway network is in need of monoblock wheels, railway tyres, and flanges.