The Europe rail glazing market was valued at $340.8 million in 2020, and is projected to reach $484.2 mn by 2028, registering a CAGR of 4.3% from 2021 to 2028.
PORTLAND, OR, UNITED STATES, November 9, 2021 /EINPresswire.com/ — Rail Glazing Market in Europe Statistics – 2028
The Europe rail glazing market was valued at $340.8 million in 2020, and is projected to reach $484.2 million by 2028, registering a CAGR of 4.3% from 2021 to 2028.
Rail glazing refers to the glass or layers of glass utilized for rail windows and windscreens to attain the desired safety and thermal level of train coaches. Glazing solutions for trains are manufactured by considering the rail standards for safety, thermal, and noise level. Glazing units are mainly laminated, tempered, multiple glazing units, tinted, low emissivity, and others as per the requirement of rolling stock. In Europe, rail transportation is one of the crucial modes of transportation from past several years and has widespread rail network along with high technological rolling stock medium. In Europe, railway is an effective mode of cross-border transport as majority of long route trains travel across Europe. Furthermore, majority of rolling stocks operating in Europe are currently electric driven, and this trend is expected to continue till end of the forecast period. The railway industry outlook in Europe, rail standards for glazing, rolling stock manufacturing, and refurbishment projects have direct impact on the Europe rail glazing market growth.
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Major Market Players:
• AGC Inc.
• Dellner Romag Ltd.
• Fuyao Glass Industry Group Co., Ltd.
• GL Spezialverglasung GmbH
• Independent Glass Co. Ltd.
• Nippon Sheet Glass Company, Limited
• Russian Glass Company (RGC)
Factors, such as increase in demand for passenger capacity and growing concern for safe, green, & economical public transportation solutions, are expected to drive the growth of the rail glazing market. In addition, refurbishment of existing rolling stock is anticipated to act as a key driver of the market. However, the COVID-19 health crisis restrains the market growth. On the contrary, market participants of the rail glazing market entering into strategic partnership with rail operators to gain competitive advantage and technological innovation at railway transportation front are projected to offer lucrative growth opportunity for the market players.
The Europe rail glazing market is segmented on the basis of product, application, coach type, glazing technology, and country. On the basis of product, the market is bifurcated into windscreens and side windows. Depending on application, the market is categorized into OEM and aftermarket. On the basis of coach type, it is classified into DMU, EMU, high speed trains, metro, and others. By glazing technology, it is segregated into coated, non-coated, and low emissivity/low E glass. Country-wise, the market is analyzed across Germany, the UK, France, Russia, Spain, and the rest of Europe.
Refurbishment of existing rolling stock
Rail transportation is a capital-intensive industry, wherein the cost of new trains is extremely high. In case of capital crunch, instead of new rails, the existing rails are upgraded (refurbished), which involves replacement of obsolete equipment with advanced technical solutions. This not only extends the service life of the vehicle but also increases reliability, functionality, vehicle comfort, and vehicle appearance. Therefore, such refurbishments of existing trains are anticipated to bolster the demand for rail glazing
Growing concern for safe, green, and economical public transportation solution
In the era of green mobility, to address environmental pollution from transportation and climate change issues, policymakers across Europe are focused on advancement in the public transportation solution.
Moreover, as framed under the European Green Deal, the outcome will be 90% cut in emissions by 2050, delivered by a smart, safe, competitive, affordable, and accessible transport system. Railway transportation is considered as the safest and cost-effective mode of transportation as compared to other public transportation solution, which has surged the demand for railways since the past few years.
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Source: EIN Presswire