The research report titled ‘Railway Aftermarket Size By Subsystem, By Product, By Service Provider Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’ available with Market Study Report, railway aftermarket is projected to record significant growth over 2019-2026.
 

Railways plays a vital role in global security and acts as a primary support for the transport systems in order to achieve a sustainable economy. Factors including increasing demand for transport systems along with shifting preferences towards efficient and emission-free commute are major factors driving the railway aftermarket expansion.
 

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As per the subsystem, the body structures segment represented 6% market share in the year 2018 and is expected to record a 2.8% CAGR over the period of 2019-2026. The segment includes lightweight vehicles which help in reducing axle loads and consume less energy. The cost efficiency nature of lightweight vehicles along with optimal weight distribution due to the adoption of advanced materials are propelling the growth of the body structure segment.
 

With regards to the product terrain of the railway aftermarket, the passenger coaches segment accounted for 23% of revenue share in the year 2018. Increasing rail networks across emerging countries along with rising adoption of passenger rail systems are fueling the expansion of the passenger coaches segment.
 

Based on the service provider, railway aftermarket is divided into OEM, component suppliers, and rail operators. Among these, the rail operator segment is anticipated to register a CAGR of 3.2% through 2026, owing to the shifting preferences of fleet operators towards using real-time performance and data analysis.
 

Regionally, Middle East railway aftermarket is projected to exhibit a CAGR of 2% over the period of 2019-2026, primarily due to increasing rail investments in the Gulf States, expansion of several railway networks, and price escalations of fuel and diversified revenue sources.
 

The major companies operating in railway aftermarket include Stadler Rail, ZF Friedrichshafen AG, Crown Rail Spares Ltd., ABB Ltd., Caterpillar Inc., LLP Skinest Rail, PowerRail Distribution Inc., CIM Equipment, Kingrail Limited, Wabtec Corporation, Tidyco Ltd., Harsco