Rail Gangways Market Is Growing Due To Increasing Adoption of Railways as a Preferred Travel Medium

Rail Gangways Market Is Growing Due To Increasing Adoption of Railways as a Preferred Travel Medium

According to a new market research report published by Credence Research “Global Rail Gangways Market (Product Type (Single Piece Gangways, and Two-Piece Gangways); Material Type (Steel, Aluminum, Alloys, Composites); Train Type (Passenger Train, Metro/Subway Train, High Speed Train, Special Train); Power Input (Single Phase, Three Phase)) – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”, the overall rail gangways market worldwide is expected to expand with a CAGR of 6.3 % during the forecast period.

Browse the full report at https://www.credenceresearch.com/report/rail-gangways-market

Market Insights

The global rail gangways market is highly driven by the increasing number of passengers globally, who are traveling through railways. Additionally, the governments in various countries are investing in train’s development which also boosts the growth of the market globally. Various key players of the market are also investing in research and development for developing new products of rail gangways, which eventually is contributing to the growth of the market. In June 2018, Hubner GmbH & Co. KG collaborated with the University of Kassel to perform the R&D in the field of high-frequency and microwave technology. This research will boost and will strengthen Kassel as a location for both research and business.

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Based on product type, the rail gangways market has been segmented as a passenger, train, metro/subway train, high-speed train, special train. The passenger trains segment dominates the train type segment and holds the largest market share with more than 30% in 2018. This segment is expected to dominate the market during the forecast period due to the increasing requirement of connected and comfort railways. Based on geography, Europe dominated the global rail gangways market based on advancement in technology, growing population and high investments for the development of railways in this region.

Asia-Pacific is expected to be the fastest-growing market due to increasing development in infrastructure in the region. Asia-Pacific is expected to grow with more than 8.0% of CAGR during the forecast period. The increasing disposable income and population in the region also contribute to the growth of the market as rail transportation is being used by the middle-class people in the region regularly. Additionally, the countries such as China and India are driving the market due to high population, where people living in the metro cities are adopting public transportation such as railways to reduce the traveling time and to have a comfortable journey. This is also considered as a major factor for the growth of the market in the region.

Download Free brochure of research report with TOC and Figures @  https://www.credenceresearch.com/sample-request/59880

Some of the major companies in the market are  Hubner GmbH & Co. KG, Narita Mfg. Ltd., Airflow Equipments (India) Pvt. Limited, Dellner Couplers AB, Schliess- und Sicherungssysteme GmbH, Hutchinson, Chongqing Hengtai Electromechanical Equipment Co., Ltd., ATG AUTOTECHNIK GmbH, Bellow and Bus (Pty) Ltd.among others.

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