Railway Sliding Bearing Market Size (2024 - 2029)

The railway sliding bearing market is projected to experience significant growth, driven by an increase in rail travel as a preferred mode of transport due to lower fares and environmental concerns. The shift towards public transport is particularly notable in developed regions, where passenger numbers have surged, prompting infrastructure enhancements. The Asia-Pacific region is expected to lead in market size, fueled by substantial government investments in metro and rail projects in countries like China and India. These developments are anticipated to boost the demand for sliding bearings as new railway systems are implemented.

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Market Size of Railway Sliding Bearing Industry

Railway Sliding Bearing Market Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Railway Sliding Bearing Market Major Players

*Disclaimer: Major Players sorted in no particular order

Railway Sliding Bearing Market Analysis

The railway sliding bearing market is anticipated to register a CAGR of about 6%, during the forecast period (2020 - 2025).

  • Railway fares are on the lower side compared to other modes of transport, so more people are opting for rail travel than other modes of transport. Due to increased CO2 emissions and atmospheric pollutants, people are moving towards public transport instead of private vehicles. In developed nations like UK also Wales experienced 11-year high growth in railway passenger numbers. Railway stations in Wales experienced a rise of about 40% passengers in year 2018-19. Cardiff Central was the busiest station in the country, with 14,204,684 entries and exits, a rise of more than 1.2 million compared with the previous year. The Welsh government had to introduce additional trains to accommodate the passengers.
  • With the growing population and increasing use of public transport in countries like China and India, Asia- pacific region is expected to be the dominating market during the forecast period. For instance, the Chinese government has invested approximately USD 148 billion to deploy more metros in the cities of Baotou, Urumqi, and Xiamen. Similar kind of efforts are observed in other Asian countries such as India, Japan, and Thailand. These projects will drive the demand of sliding bearings as new engines and bogies will be required for these projects.

Railway Sliding Bearing Industry Segmentation

The railway sliding bearing market covers the latest trends and technological development in the sliding bearing market, demand of the type (Thrust, Radial and Others) application (Engine, Brake, Bogie and others), and geography.

Bearing Type
Thrust
Radial
Others
Application
Engine
Brake
Bogie
Others
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
Mexico
United Arab Emirates
Other Countries
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Railway Sliding Bearing Market Size Summary

The railway sliding bearing market is poised for significant growth, driven by the increasing preference for rail travel over other modes of transport due to its cost-effectiveness and environmental benefits. This shift is particularly evident in developed regions like the UK, where there has been a notable rise in railway passenger numbers. The Asia-Pacific region is expected to dominate the market, fueled by substantial investments in public transport infrastructure in countries such as China and India. These nations are expanding their metro systems and high-speed rail networks, necessitating the use of new engines and bogies, which in turn will drive the demand for sliding bearings. The focus on upgrading rail infrastructure globally, supported by government spending, further underscores the market's growth potential.

The market landscape is relatively concentrated, with key players like SKF, Schaeffler, and NTN holding significant shares. These companies are actively engaging in strategic partnerships, investing in research and development, and launching innovative products to maintain their competitive edge. For instance, SKF's integration with Siemens' Railigent application suite and MindSphere IoT system highlights the industry's move towards advanced technological solutions. As governments continue to invest in railway infrastructure and privatization efforts, particularly in India, the demand for railway sliding bearings is expected to rise, reinforcing the market's growth trajectory during the forecast period.

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Railway Sliding Bearing Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porters Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Bearing Type

      1. 2.1.1 Thrust

      2. 2.1.2 Radial

      3. 2.1.3 Others

    2. 2.2 Application

      1. 2.2.1 Engine

      2. 2.2.2 Brake

      3. 2.2.3 Bogie

      4. 2.2.4 Others

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia Pacific

        1. 2.3.3.1 India

        2. 2.3.3.2 China

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Rest of the World

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Mexico

        3. 2.3.4.3 United Arab Emirates

        4. 2.3.4.4 Other Countries

Railway Sliding Bearing Market Size FAQs

The Railway Sliding Bearing Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

AB SKF, Schaeffler AG, NTN Corporation, The Timken Company and GGB are the major companies operating in the Railway Sliding Bearing Market.

Railway Sliding Bearing Report Snapshots

Railway Sliding Bearing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)