The analysts forecast global rail track components market to grow at a CAGR of 9.87% during the period 2018-2022. One trend in the market is regenerative braking energy.
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electric railways worldwide are a fast and quiet means of transport when compared with diesel powered trains. When a brake is applied in electric trains, the energy of a moving train is lost.
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To capture the energy that is lost during braking is an easy task, but to redistribute it efficiently through the power grid is an arduous task. Research is being conducted to efficiently capture and redistribute the energy lost during braking by use of smart grids.
Major key players in the global rail track components market: AGICO GROUP, Harmer steel, HeidelbergCement, ROYAL INFRASTRU, Kimes Steel & Rail, and Vossloh.
According to the rail track components market report, one driver in the market is rising demand for rail logistics. Rail transportation is becoming an ideal choice for various manufacturers across various business segments.
Vendors and manufacturers prefer rail transportation over road transportation. This trend can be attributed to infrastructure deficiencies, unstable fuel prices, and driver shortage.
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Further, the rail track components market report states that one challenge in the market is slow progress of railway projects. The construction of railway lines requires approvals of various government departments.
In addition, it involves investments and skilled labor. Getting clearances is a tedious and long process, which results in the delay of railway projects.
Key questions answered in this rail track components market report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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