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Global Rail Axle Bearings and Seals Market: Introduction

  • An axle is simply a rod of metal that passes through the center of a wheel or a group of wheels in a vehicle. Axle bearings are mounted on the ends of the axle. The major function of the bearings is to reduce rotational friction and support radial and axial loads. Rail axle bearings act as a link between the rail wheel and frame of the bogie (also known as truck).
  • Bearing seals are utilized in bearings in order to prevent contamination from dust, water, and other particulate matter, which may hamper bearing performance. Seals also help retain grease in the bearing area.
  • Rail axle bearings and seals witness consistent demand owing to the need to reduce friction and ensure smooth functioning. Bearings and seals are crucial for the smooth operation of railways and safety of passengers.

Key drivers of global rail axle bearings and seals market

  • Compared to road transport, rail transport is cost-effective, fast, and offers high load carrying capacity. Rise in freight volumes has led to the demand for efficient and rapid delivery of cargo, which in turn is fueling the demand for freight railways.
  • Rising need to reduce emissions owing to stringent rules and regulations by government authorities is boosting the adoption of train transport in developing countries at a rapid pace. For instance, in India, the government is building new tracks for metros in urban areas across the country to make public transport fast and cost-effective. In China, increasing development and adoption of electric trains highlights the increasing use of train transport.
  • Increasing urbanization in Middle East & Africa, owing to technological advancements and capital investments due to cheap labor, is driving the need for public transit, which demands an efficient mode of transport. Moreover, easy availability of raw material sources in Middle East & Africa is further boosting the expansion of rail network across the region.
  • The railway sector can contribute significantly to a country’s energy sector as well as keep the environment safe by using diverse energy sources such as solar energy and electricity, which reduce emission of CO2, NOX, and other pollutants. Building a sustainable, environment-friendly mode of transport for freight in the long run would also help reduce traffic congestion.
  • Therefore, an increase in the demand for transport by railways is driving the demand for rail axle bearings and seals

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Shift toward maglev trains is likely to hamper rail axle bearings and seals market

  • Maglev trains are gaining popularity owing to their significantly high speed, as compare to other types of trains.
  • In May 2019, China unveiled a maglev train prototype that is projected to run at maximum speed of 600 kmph
  • In 2015, Japan also successfully conducted a trial run of a maglev train that recorded a top speed of 603 kmph. Japan hopes that the maglev train line between Tokyo and Nagoya would be operational by year 2027.
  • A 300 mph maglev train line between Washington D.C. and Baltimore in the U.S. has been proposed
  • The maglev technology in trains eliminates the need of train wheels completely. Therefore, technological advancements in maglev trains are hampering the rail axle and seal market.

Asia Pacific to dominate global rail axle bearings and seals market

  • According to International Union of Railways, 37% of total freight volume and 77% of world’s transport by train is projected to happen in Asia Pacific in 2019. This illustrates the demand for train transport in the region. Moreover, increasing population and rising income in developing countries such as China, India, Malaysia, and Thailand in Asia Pacific is propelling the expansion of cities leading to urbanization. This is driving the demand for strong, efficient, faster, and cleaner mode of transport.
  • Increasing technological advancements in railways in countries such Japan and China is driving the adoption of trains as a mode of transport. Trains reduce overall carbon footprint of the country, owing to the fact that electricity is a cleaner fuel as compared to diesel and coal. Therefore, a rise in adoption and usage of trains in Asia Pacific is driving the rail axle bearing and seal market.

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Key players operating in global rail axle bearings and seals market:

The global rail axle bearings and seals market is highly concentrated with top manufacturers. A few of the key players operating in the global rail axle bearings and seals market are:

  • Schaeffler AG
  • SKF
  • Jinan Focus Bearing Co., Ltd.
  • GermanBase GmbH
  • NSK Ltd.
  • Scan-Pac Mfg., Inc.
  • NTN Corporation
  • MinebeaMitsumi Inc.
  • GGB (GBB Bearings)
  • THK CO., LTD.
  • Amsted Rail Company, Inc.
  • Penn Machine Company LLC
  • W.S. Hampshire, Inc,
  • American Roller Bearing Company
  • NIPPON BEARING CO., LTD. & NB Corporation of America

Global Rail Axle Bearings and Seals Market: Research Scope

Global Rail Axle Bearings and Seals Market, by Type

  • Axle Bearing
    • Spherical Roller Bearings
    • Tapered Roller Bearings
    • Tapered Roller Bearings
    • Others
  • Bearing Seals
    • Lip Seals
    • Contact Seals
    • Non-contact Seals
    • Others

Global Rail Axle Bearings and Seals Market, by Size

  • Axle Bearing
    • Inner Diameter
    • Outer Diameter
  • Bearing Seals
    • Inner Diameter
    • Outer Diameter

Global Rail Axle Bearings and Seals Market, by Material

  • Axle Bearing
    • Chrome Steel
    • Stainless Steel
    • Other
  • Bearing Seals
    • Thermoplastics
    • Elastomers
    • Polyurethanes
    • Other

Global Rail Axle Bearings and Seals Market, by Lifespan (Minimum L10 Life, in Hours)

  • Axle Bearing
    • 8,000
    • 12,000
    • 20,000
    • 40,000
    • 60,000
    • 100,000

Global Rail Axle Bearings and Seals Market, by Sales Channel

  • OEMs
  • Aftermarket

Global Rail Axle Bearings and Seals Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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Rail Axle Bearings And Seals Market