Increased investments in rail infrastructural development and technological breakthroughs that have made it possible for passengers to experience more comfortable train rides are both responsible for the rise of the hydraulic rail shock absorbers market. Additionally, the expansion of the market for hydraulic rail shock absorbers has been greatly aided by the increase in public and private investments in rail infrastructure. Governments in many nations have been investing a lot of money recently in rail projects, such as track maintenance and electrification, which is further raising the need for a hydraulic rail shock absorbers market. An additional element that propels the development of the hydraulic rail shock absorbers market is the rise in passenger traffic brought on by the tourist sector.
In order to reduce the impacts of vibrations and shocks that are conveyed from rail tracks to railway vehicles as a result of uneven terrain, curves in rail tracks, or when going through switches, railway networks use hydraulic shock absorbers. This reduces harm to passengers and guarantees their safety while using train networks. Also, they lessen interior noise levels and keep the bogies from deteriorating. These characteristics make hydraulic rail shock absorbers an essential technology for the effective operation of railway networks worldwide, which is fueling demand for them in various geographical areas.
A type of shock absorber known as a hydraulic rail shock absorbent uses hydraulic suspension to lessen vibration and shocks brought on by uneven terrain, curves in rail tracks, or moving through switches. These tools aid in preventing passenger damage and guarantee safety while using railway networks. They also aid in quieting down the interior of the train and protect the bogies from damage. Among other types of trains, hydraulic rail shock absorbers are used in freight, passenger, and high-speed trains.
The market for hydraulic rail shock absorbers is anticipated to increase at a CAGR of 3.2% from 2021 to 2031, from a value of USD 1.3 billion in 2021 to USD 1.8 billion in 2031. One of the key reasons propelling the growth of the hydraulic rail shock absorbers market is the rising investments in railway infrastructure across various areas.
Due to the expensive price of these absorbers, their short maintenance life, and a lack of adequate safety measures, the global market for hydraulic rail shock absorbers is facing some difficulties. The expensive price of rail shock absorbers may prevent the market from accepting them. To further improve safety and boost the effectiveness of railroad transportation, there are still a number of regions that could benefit from the implementation of cutting-edge technologies like rail roadbeds. The growth of this market will also be hindered by strict rules for product quality and testing as well as the rising desire for eco-friendly solutions. However, due to rising investments in rail infrastructure and technological improvements, the industry is anticipated to rise rapidly.
The Primary & Secondary Suspension Segments emerged as the Most Lucrative Type
The market is divided into two groups based on type: Yaw Dampers and Primary & Secondary Suspension (Horizontal & Vertical). Due to its capacity to lower train vibration and improve passenger travel comfort, the Primary & Secondary Suspension segment is anticipated to expand at the greatest CAGR during the forecast period. This segment's capacity to lessen the likelihood of a derailment is another element supporting its expansion.
The Most Prominent Application is the Passenger Trains Segment
The market is segmented into Freight Trains, Passenger Trains, High-Speed Trains, and Others based on applications. Due to rising demand for secure transportation options and rising infrastructure project investments, the passenger train segment is anticipated to develop at the greatest CAGR during the projection period. Additional reasons assisting the growth of this segment include the introduction of strict environmental rules and an increase in the number of travelers.
The North American Region to render Ample Financing Opportunities
North America, South America, Europe, Asia Pacific, and the Middle East & Africa comprise the market segments for hydraulic rail shock absorbers. Out of them, the North American area is expanding quickly as a result of rising infrastructure development investments and the presence of significant companies like Wabtec Corporation, Bombardier Inc., Kawasaki Heavy Industries Ltd., etc.
COVID-19 Impact and Market Status
The COVID-19 pandemic outbreak has significantly reduced the need for railway infrastructure because most nations have set travel restrictions and closed borders to stop the virus from spreading. Due to a shortage of investments in rail infrastructure, the market for hydraulic rail shock absorbers is anticipated to grow more slowly as a result. The market is anticipated to gradually recover in 2021 as governments start to make significant investments in transportation and rail infrastructure.
Kawasaki Heavy Industries Ltd. (Japan), Alstom SA (France), Wabtec Corporation (U.S.), Hitachi, Ltd. (Japan), Knorr-Bremse AG (Germany), Bombardier Inc. (Canada), Faiveley Transport S.A.S. (France), and others are the leading companies in the hydraulic rail shock absorbers market. As a result, this study offers a thorough analysis of the industry and an estimate of its size through 2031.
Recent Developments in the Hydraulic Rail Shock Absorbers Market
• ABB Ltd. stated in May 2022 that its Indian subsidiary, ABB India Ltd., had been selected to supply traction converters for 160 electric locomotives of the Indian Railways. ABB India Ltd. also reported that it had delivered bespoke shock absorbers for the Chennai metro rail project in India.
• Wabtec Corporation announced in June 2020 that it has acquired Faiveley Transport and its affiliates. Wabtec will be able to offer hydraulic rail shock absorbers as part of its product portfolio expansion in the markets they serve as a result of the acquisition.
• To enhance their powertrain technology offerings and their presence in the North American market, Knorr-Bremse Rail Systems acquired ZF Sachs AG in June 2019.
• Alstom in France selected Knorr-Bremse AG to provide shock absorbers for their new regional Coradia Polyvalent, the firm announced in June 2022.
• To increase its footprint in North America, Knorr-Bremse AG bought Diversified Suspension Systems Inc., a manufacturer of air and hydraulic suspension systems for the Heavy-Duty truck, bus, railway, and military markets, in May 2020.
Hydraulic Rail Shock Absorbers Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 1.8 billion|
|Growth Rate||CAGR of 3.2 % during 2022-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Kawasaki Heavy Industries Ltd. (Japan), Alstom SA (France), Wabtec Corporation (U.S.), Hitachi, Ltd. (Japan), Knorr-Bremse AG (Germany), Bombardier Inc. (Canada), Faiveley Transport S.A.S. (France),|
Key Segments of the Global Hydraulic Rail Shock Absorbers Market
Type Overview, 2021-2031 (USD Billion)
- Primary & Secondary Suspension (Horizontal & Vertical)
- Yaw Dampers
Application Overview, 2021-2031 (USD Billion)
- Freight Trains
- Passenger Trains
- High-Speed Trains
Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa