According to
a new market report published by Lucintel, the future of composites in the
global passenger rail market looks good with opportunities in the interior and
exterior applications. The composites in the global passenger rail market is
expected to reach an estimated $978 million by 2023 and it is forecast to grow
at a CAGR of 5.1% from 2018 to 2023. The major drivers for the growth of this
market are development of high speed trains, mono and metro rails, as well as the
increasing demand for lightweight materials with superior mechanical
performance, aesthetics, and fire safety.
In this
market composites are used to make products, such as seat, panels, door, front
end cab, toilet module, floor, and ceiling etc. Lucintel forecasts that the front
end cab is expected to remain the largest application and toilet module will witness
the highest growth during forecast period.
In rail
market, RTM/VARTM, open mold, pultrusion, SCRIPM, and injection molding are
some of the major processes utilized to manufacture composite parts. RTM/VARTM is
expected to remain the largest process in composites part manufacturing for
rail industry, supported by the low cycle time and ease of manufacturing.
By fiber type,
glass fiber based composites is expected to remain the largest segment. By
resin, epoxy based composite is expected to remain the largest segment,
supported by its ability to provide superior performance.
Europe is
expected to remain the largest market for composites products in the passenger rail
industry, whereas APAC is likely to witness the highest growth during the
forecast period due to expected increase in high speed train production and growing
of mono and metro rail network.
Emerging
trends, which have a direct impact on the dynamics of the industry, include the
development of green technology products and high performance composites for
interior and exterior applications. Joptek Composites, Sintex Wausaukee
Composites, Excel Composites, Miles Fiberglass & Composites, and TPI
Composites are among the major molders in the global rail composites market.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed growth opportunities in the
composites market in the global rail industry by application, by manufacturing
process, fiber, resin, and region, and has compiled a comprehensive research
report entitled “Growth
Opportunities for Composites in the Global Rail Industry 2018-2023: Trends,
Forecast and Opportunity Analysis.” The Lucintel report serves as a
springboard for growth strategy by providing comprehensive data and analysis on
trends, key drivers, and directions. The study includes a forecast of the growth
opportunities for the composites market in the global rail industry by end use
application, resin, fiber, manufacturing process, and region as follows:
By
application [Volume (M lbs) and Value ($ Million) from 2012 to 2023]:
- Interior
o
Ceiling
o
Flooring
o
Wall Panel
o
Toilet Module
o
Seat
o
Others
- Exterior
o
Front end
o
Door
o
Others
By
Fiber [Volume (M lbs) and Value ($ Million) from 2012 to 2023]:
- Glass fiber
- Carbon Fiber & Others
By
Resin [Volume (M lbs) and Value ($ Million) from 2012 to 2023]:
- Epoxy
- Polyester
- Phenolic
- Vinylester
- Others
By
Manufacturing Process [Volume (M lbs) and Value ($ Million) from 2012 to 2023]:
- RTM/VARTM
- Open Mold
- Pultrusion
- SCRIMP
- Injection Molding
- Others
This
161-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel
offerings include advanced
materials reports, composite
materials market report, strategic
growth consulting, market research due
diligence and business
strategy consulting.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q. 1. How big are the opportunities for composites
in the global passenger rail market by application (floor, ceiling, seat
structures, toilet module, wall panel, door, front end cab, and others), fiber (glass
fiber, carbon fiber & others), resin (epoxy, polyester, phenolic, vinyl
ester, others), manufacturing process (RTM/VARTM, open mold, pultrusion,
SCRIMP, injection molding, others) and region (North America, Europe, Asia
Pacific, and the Rest of the World)?
Q. 2. Which product segments will grow at a
faster pace and why?
Q. 3. Which region will grow at a faster pace
and why?
Q.4. What are the key factors affecting market
dynamics? What are the drivers,
challenges, and business risks in this market?
Q.5. What are the business risks and
competitive threats in this market?
Q.6. What are the emerging trends in this
market and the reasons behind them?
Q.7. What are some of the changing demands of
customers in the market?
Q.8. What are the new developments in the
market and which companies are leading these developments?
Q.9. Who are the major players in this market?
What strategic initiatives are being taken by key companies for business
growth?
Q.10. What are some of the competing products
in this market and how big of a threat do they pose for loss of market share by
product substitution?
Q. 11. What M&A activity has occurred in
the last have years and what has its impact been on the industry?
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