Train Suspension System Market Insights
Railways are an integral part of the public transportation system across the globe and will play a key role in developing future commutation due to increasing public density, urbanization and changing travel behaviour across the world. A rail vehicle goes through various stresses and vibrations occurring due to rolling stock applications. Tran suspension systems are used to minimise the transmission of shocks caused by variations in the track bed to the locomotive under frame.
There are mainly two types of train suspension systems used generally: primary suspension system and secondary suspension system. The primary suspension system is located between the axle box & the bogie and consists of dampers & springs, whereas the secondary suspension system is located between the bogie frame & the vehicle and consists of a pneumatic suspension system (an airbag). Owing to the crucial function of the train suspension system, the demand for advanced and precise suspension systems for trains is estimated to witness significant growth in the coming years. This is anticipated to contribute to the growth of the global train suspension system market during the forecast period.
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Train Suspension System Market: Dynamics
The growing population in metropolitan areas and the increasing number of office workers, particularly in developing countries, are among factors projected to drive the global train suspension system market during the forecast period. In urban economies, governments are focusing on investing a large amount of money to promote the introduction of large-scale transport infrastructure, such as high speed rails and bullet trains, to increase the speed of passenger transport. Government investments on railways is one of the key factors driving the train suspension system market in the coming years.
Freight rail networks are considered among the most dynamic freight systems across the world. The growing mining industry and steel production will increase the requirement for heavy rails to transport these materials, and this is expected to boost the demand for proper train suspension systems, thus fuelling the growth of the global train suspension system market.
Increasing air traffic as well as increasing preference for air transport for faster travelling is one of the key factors that is likely to hinder the growth of the railway industry. This is expected to directly or indirectly restrain the global market for train suspension systems during the forecast period.
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Train Suspension System Market: Regional Outlook
Over the last few years, smart railway stations have cropped up in several countries. Governments are focusing on renovating their rail transport hubs for making their railway stations more attractive. In India, the Ministry of Railway and Ministry of Urban Development have teamed up to achieve the smart city mission. In Spain, International Union of Railways (UIC) and Spanish rail infrastructure manager ADIF have come together to achieve the goal of “Smart Stations in Smart Cities.” Hence, the sprawling railway infrastructure in the developing countries of Asia Pacific and Europe is estimated to propel the demand for a larger number of rail vehicles, which is expected to fuel the growth of the train suspension system market during the forecast period. Increasing number of rail passengers in the U.S. with the government focussing on high-speed train projects is expected to boost the market of train suspension systems in North America.
Train Suspension System Market: Market Participants
Some of the major players in the global train suspension system market are:
- Continental AG
- Nippon Steel & Sumitomo Metal Corporation
- ALCO Spring Industries Inc.
- Stucki Company
- ARNOT Vibration Solutions
- Atlas Copco North America LLC
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