New Bearing Deliveries and Aftermarket Services for Rail Vehicles to Create a Total Market Potential of $2.34 Billion in the Rail Axle Bearings Market Between 2018 and 2024
Bearings are crucial for smooth operations of railway vehicles and for the safety of commodities and people being transported. Lowering noise levels and vibrations, high load carrying capacities, and long life are the expectations of bearings in rail. Rail axle bearings are mounted to the wheel axle journal and are a link between the wheel and frame of the bogie. Bearing seals prevent contaminants such as dust, water, and other particles from affecting the performance of bearings and provide grease retention within the bearing area. There is a constant demand for bearings and any technological advancement would modify the existing bearing technology but would not replace them. Mobility requires bearings to reduce friction and enable a streamlined flow of operations.
Navigating into the US bearings market, industrialists would find that there are numerous opportunities in the coming years with the expansion of passenger rail and continuous growth of freight volumes, which would result in the increase in the intermodal share for freight rail. It is quite evident that freight traffic is growing and will continue to grow, which means that there are improvements in store for existing fleet of freight carriers, including rail. Growing need for reduced emissions and avoiding traffic congestion are driving people to rethink their travel modes. Improvements in passenger rail infrastructure and long-distance connectivity is not far away.
There are hundreds of miles of new rail networks in the books and a lot of additional rolling stock planned as well. Improving freight rail infrastructure is vital in bringing about faster and efficient means of transportation for essential goods and industrial products. Building a sustainable, environment-friendly mode of transport for freight would help reduce emissions and congestion from the use of road trucks that are the top contenders in freight transport. There would be a shift in the freight movement from trucks to rail and in the next two decades. Rail ton mileage would exceed that of trucks by 20%, according to the Federal Highway Administration.
With increasing opportunities in freight rail, improvements in passenger rail, and expansion of rail networks being planned, the rail bearings market should thrive as well.
Research Scope
This research service covers all types of US rail based on application and provides the number of new deliveries and number of vehicles for periodic overhaul, which gives a close account of the number of bearings required for each segment for the forecast period. Comparative studies on the position of competition in the US bearings market, opportunities for OEM and aftermarket segments, and guidelines to participate in the region are also in the scope for the time period 2017-2024.
