According to a new market report published by Lucintel, the future of composites in the passenger rail market looks good with opportunities in the interior and exterior applications. The composite in the passenger rail market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $0.9 billion by 2024 with a CAGR of 2% to 4% from 2020 to 2024. 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.
Browse 95 market data tables and 92 figures spread through 161 pages and in-depth TOC on “Composites in the Passenger Rail Market"
To download report brochure, please go to https://www.lucintel.com/composites-in-passenger-rail-market.aspx and click "report brochure" tab from the menu.
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 rail composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the composites market in the 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 Rail Industry 2020-2024: 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 rail industry by end use application, resin, fiber, manufacturing process, and region as follows:
By application [Volume (M lbs) and Value ($ Million) from 2014 to 2024]:
Interior
Ceiling
Flooring
Wall Panel
Toilet Module
Seat
Others
Exterior
By Fiber [Volume (M lbs) and Value ($ Million) from 2014 to 2024]:
Glass fiber
Carbon Fiber & Others
By Resin [Volume (M lbs) and Value ($ Million) from 2014 to 2024]:
Epoxy
Polyester
Phenolic
Vinylester
Others
By Manufacturing Process [Volume (M lbs) and Value ($ Million) from 2014 to 2024]:
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 click on this link https://www.lucintel.com/composites-in-passenger-rail-market.aspx or helpdesk@lucintel.com.
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