According to a new market research report published by Acute Market Reports, The global rail gangway market is expected to grow with a CAGR of 6.3 per cent during the forecast period.
Market Insights
The global market for rail gangways is powered by an increasing number of global passengers traveling by rail. In addition, governments in different countries are investing in the production of the train, which also boosts market growth globally. Various key players in the market are also investing in research and development to develop new rail gangway products, which will ultimately contribute to the growth of the market. Hubner GmbH & Co. will be in June 2018. KG has partnered with the University of Kassel to carry on research and development in the field of high-frequency and microwave engineering. This work will improve and strengthen Kassel as a research and business location
Browse Full Report Originally Published by Acute Market Reports @ https://www.acutemarketreports.com/report/rail-gangways-market
On the basis of the product type, the rail gangway market was segmented as bus, train, metro / subway train, high-speed train, special train. The passenger train segment dominates the train type segment and has 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 demand for connecting and comfort rail. Geographically, Europe dominated the global rail gangway market based on technological advancement, growing population and high investment in rail growth in the region.
Asia-Pacific is projected to be the fastest-growing market due to the rising growth of infrastructure in the region. Asia-Pacific is expected to grow by more than 8.0 per cent of CAGR during the forecast period. Higher disposable income and population in the area also lead to the growth of the industry, as well as the frequent use of rail transport by middle-class people in the region. In addition, countries such as China and India are driving the market due to a high population, where people living in metro cities are using public transport, such as rail, to reduce travel time and make a convenient journey. This is also considered to be a key factor in the growth of the market in the region.
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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