Indian Rail Composites Market set to reach US$ 122.3 million by 2023
February 20, 2020
Indian Rail Composites Market Overview:
The Indian rail composites market is forecasted to grow at an impressive rate over the next five years to reach an estimated US$ 122.3 million in 2023. The Indian rail industry has undergone a remarkable transition over a period of time with regards to the adoption of composite materials in various applications. The rail industry is one of the largest consumers of composite materials in India and has efficaciously witnessed a continuous increase in the penetration of composites over the last ten years. The penetration of composites would not cede here and is likely to increase further with the development of new composite applications as well as to address changing customer demands with evolving trends, rapid transformations in technologies, and intense market competition. This will correspond to an attractive growth opportunity for both existing as well as new players.
The Diverse Stand Points:
The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives better understanding of the market. The market of Indian rail composites has been viewed from various perspectives such as:
- By Rail Type (Rail Coaches, Locomotives, Metro Rails)
- By Composites Type (Polyester Composites, Phenolic Composites, Other Composites)
- By Process Type (Resin Infusion, Open Mold, Filament Winding, Others)
- By Application Type (Front-End Module, Toilet Modules, Brake Blocks, Doors & Windows, Interior Panels, Others)
- By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
- Which are the best performing segments of the market?
- Which is the most dominant region?
- Who are the movers and shakers of the market?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
Get a free sample of the report here:
https://www.stratviewresearch.com/Request-Sample/321/Indian-Rail-Composites-Market.html
Indian Rail Composites Market Segment Insights:
Rail Coach: The growth engine
The Indian rail composites market is segmented based on the rail type as Rail Coaches, Locomotives, and Metro Rails. The rail coaches segment currently dominates the market and is likely to maintain its growth momentum over the next five years as well, driven by increasing production of rail coaches, advancement in the rail coach design, upcoming rail coach factories in India, and increasing penetration of composites in structural to semi-structural applications. Metro railcars, another promising segment, is likely to grow at the highest rate in the market during the forecast period, driven by large ongoing and upcoming metro rail projects in different parts of India including Bengaluru, Hyderabad, Kochi, Lucknow, and Nagpur coupled with a greater composites penetration per railcar.
Click below to run through the detailed ToC of the report:
https://www.stratviewresearch.com/toc/321/Indian-Rail-Composites-Market.html
Dominance of: Polyester Composites
Based on the composite type, The Indian rail composites market is segmented into Polyester Composites, Phenolic Composites, and Others. Polyester composite is expected to remain the choice of composites in the market during the forecast period, driven by its low-cost advantage and good performance. In India, all the major composite applications, such as front-end modules, toilet modules, and interior panels, are preferably fabricated with glass fibers impregnated with polyester resins. Phenolic composite is also likely to witness a healthy growth during the same period.
A highly/moderately/fragment consolidated Market
The supply chain of this market comprises of raw material suppliers, composite part fabricators, rolling stock manufacturers, and the government. The major raw material suppliers are Owens Corning India, Goa Glass Fibre Ltd. Reichhold India Private Ltd., Satyen Polymers Pvt. Ltd., and Atul Pvt. Ltd., whereas the major composite part fabricators for the Indian rail industry are Arham Composites, Kineco Private Limited, Tech-Force Composites Pvt. Ltd., Permalli Wallace, and HCL India. The key rolling stock manufacturers are RCF Kapurthala, ICF Chennai, Chittaranjan Locomotive Works, Diesel Locomotive Works, Alstom Transport India Ltd., Bombardier Transportation India Private Ltd., and GE Transportation.
Regional Hegemony of South & North India
Based on the regions, the Indian rail composites market is further segmented into North India, South India, East India, and West India. South India and North India are the manufacturing capitals of the Indian rail industry with the presence of major rolling stock manufacturers. Both regions are likely to remain dominant over the next five years. West India currently generates an overall low demand for composite parts but is likely to grow maximum among all regions over the next five years.
Click here for other high value market reports from Stratview Research in the Automotive Industry: https://www.stratviewresearch.com/market-reports/Automotive-Transportation.html
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
For enquiries,
Contact:
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176