Railroad Ties Market Overview
According to the research, the Railroad Ties market is projected to exhibit a steady growth of approximately 3% during the assessment period of 2021 to 2031. Railroad Ties offer support for the rails on the track and are typically rectangular in shape.
Although traditionally made of wood, concrete ties are increasingly being used in railway networks, especially in Asia and Europe. In the UK, steel ties are commonly used on secondary lines. Plastic composite ties are also used, though in far less quantities than wood or concrete ties.
What is Driving Demand for Railroad Ties?
The increasing investments made in the expansion of railway network and coverage across the globe is expected to spur the sales of railroad ties. Implementation of modern technologies in developing new and advanced ties is expected to aid in the growth of the industry.
Developing countries have made significant investments in the introduction of subway networks which could act as a growth driver and aid in the development of railway ties. Railway is often considered as a more economical mean of traveling when compared to airways, and thus the increasing inclination towards railway for traveling or commuting is anticipated to boost the demand during the forecast period.
Apart from this, the increasing uptake of ties made from sustainable material is further projected to bolster the growth of the industry during the forecast period. These changing market dynamics are anticipated to spur the sales in the coming years.
What are the factors influencing the sale of Concrete Railroad Ties?
Concrete ties are typically comprised of sand, gravel, and cement, which gives them considerable weight and allows them to stay in place for prolonged period of time. When compared to wooden ties, it is easier to manufacture and require less maintenance. The market is predicted to expand due to increased demand for concrete ties in railway applications.
In addition, the concrete tie has advantages such as longer lifespan, high durability, less damage rate and minimal maintenance requirements. It is also resistant to moisture and harsh weather conditions. These factors have contributed to an increase in demand for concrete ties, which is expected to drive the expansion of the market.
North America Railroad Ties Market Outlook
North America is projected to lead the market in terms of market share during the forecast period due to the well-established railway network and infrastructure spanning the US and Canada. Furthermore, the expansion of the regional market will be aided by the efficient operation of subway network in North America.
A rise in demand for concrete ties has been witnessed in the region owing to its numerous benefits. Owing to these features, North America is predicted to maintain a healthy share in the market during the forecast period.
Europe Demand Outlook for Railroad Ties
Steel rail ties are predicted to be the key growth driver for the regional market in Europe. Germany is one of the leading countries in Europe and is expected to hold lucrative growth opportunities in the coming years.
How is South Asia & Pacific faring in the Railroad Ties market?
The market in Asia Pacific is expected to be propelled by the implementation of subway networks, growth of railway infrastructure and the increased acceptance of new railroad technologies. India is considered to hold a prominent position in terms of market share in the South Asia & Pacific region from 2021 to 2031.
Who are the Key Manufacturers and Suppliers of Railroad Ties?
Some of the key market players are:
- Gross and Janes Corporation
- Nisus Corporation
- Peterson Astec Industries Inc.
- BRIDGEWELL RESOURCES
- Koppers Inc.
- Tank Fab
- Sannosuke Kobayashi Co. Ltd.
- AGICO GROUP
- Lankhorst Mouldings
- AandK Railroad Materials, Inc.
- Austrak Pty Ltd
The acquisition of other market players and competitors allows significant players to strengthen their market position. These acquisitions enable acquiring firms to broaden their product portfolios while also gaining access to the infrastructures, technology, distribution networks and R&D facilities of the acquired firm.
Many leading manufacturers and suppliers are focusing on expanding their business through collaborations and acquisitions. Manufacturers are investing in product development in order to bolster the demand and improve sales.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
By Product Type:
- Wooden Tie
- Steel Tie
- Concrete Tie
- North America (U.S., Canada)
- Latin America (Brazil, Mexico)
- Europe (Germany, Italy, France, U.K., Spain, BENELUX, Russia, Nordics)
- East Asia (China, Japan, South Korea)
- South Asia and Pacific (India, ASEAN Countries, Australia & New Zealand)
- Middle East and Africa (GCC Countries, Turkey, Northern Africa, South Africa)