Railway tie, also known as railway sleeper, is a rectangular support laid across the rail tracks. It is usually placed perpendicular to the rails, and transmits the load to the track ballast, which hold the rails upright and have them spread out to the exact gauge.
Rise in demand for public transportation leads to higher production of trains and increase in the infrastructure related railways. This is likely to propel the railway tie supply market. Advances in manufacturing processes that are employed to fabricate railway ties is likely to drive the market for railway tie supply Sustainability in railway tie products has increased in the last few years, which is a key factor driving the railway tie supply market. Railway ties are highly durable and hence, have lower replacement rate. Therefore, the production of railway ties is limited to newly laid rail-tracks. This is a challenge faced by the railway tie supply market.
The global railway tie supply market can be segmented based on material, ownership, and region.
Based on material, the railway tie supply market can be divided into metal and wood. Metal ties are highly preferred, as they are durable and can bear significant load. Furthermore, they are unlikely to be affected by the external environmental conditions such as rain, sun, or wind.
In terms of ownership, the railway tie supply market can be bifurcated into state-owned and privately-owned. The state-owned segment is likely to lead the market, as train services in most countries are owned by the government. Europe has some privately-owned railways, where train services are provided by a particular group or company.
In terms of geography, the railway tie supply market can be segmented into Middle East & Africa, North America, Latin America, Europe, and Asia Pacific, which accounts for a major share of the global railway tie supply market, owing to the higher population and greater need for public transportation system in the region in order to improve the declining environmental conditions, which in turn is driving the production of trains, especially in China and India. Furthermore, the regions are sub-divided into countries according to the major countries from the region which has major presence of rail network and are providing positive growth for the development in the railways. Asia Pacific is divided into China, India, Japan, and ASEAN. Japan has a fully developed rail network, and it is led the market for railway tie supply in Asia Pacific in 2017. The Government of India is focused on the upgrade and development of railway infrastructure in the country. Consequently, India is likely to be a rapidly expanding market for railway tie supply in the region. Countries such as Brazil, Mexico, and those in ASEAN are witnessing rapid economic expansion, which is fuelling the demand for proper public transportation system in these countries. Therefore, these countries are likely to hold a major share of the railway tie supply market by the end of the forecast period.
Key players operating in the global market for railway tie supply include Koppers, Stella-Jones, Vossloh, TieTek, and L.B. Foster Company.
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