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Rail Wheel Sensor Market Size, Share & Industry Analysis, By Product Type (Single Wheel Sensors, Double Wheel Sensors), By Application Type (High Speed Trains, Fast Trains, Others) and Regional Forecast 2022-2029

Region : Global | Report ID: FBI103577 | Status : Ongoing

 

KEY MARKET INSIGHTS

Wheel sensors are a significant part of the measurement system. These sensors have the ability to detect different physical parameters such as pressure, humidity, temperature and speed into electrical measurement signals. These sensors are used in the wheels to measure the speed in the power system and control the brakes to prevent the brakes from locking and the wheels from slipping, thereby reducing accidents and disasters. The rapid development of railway infrastructure has brought about the vulnerability of these accidents, which has affected related components such as axle spacing and rail tracks. Also, the ability to withstand environmental conditions such as temperature fluctuations creates high demand for these sensors in the market. Increasing emphasis on safety, developing railway infrastructure and other factors have become the main growth drivers of the market.


Key Market Driver -

Rapid development in the rail infrastructure and rising safety concerns are expected to drive the growth of the market in the forecast period.

Key Market Restraint -

High cost may hinder the growth of the market during the forecast period


Market Segmentation:


Globally, the rail wheel sensor market is segmented by product type, by application type, and by geographic coverage. The product type is further segmented into single wheel sensors, and double wheel sensors. The double wheel sensor holds the major share in the global market owing to the capability to detect metal mass in the wheel flange to generate electrical signals. The double wheel sensor also detects directions, measures speed and counts axles. The application type is further segmented into fast trains, high-speed trains and others. The high speed train segment accounts for a significant share in the global market as compared to other trains types. The growing urbanization, development of rail infrastructures as well as adoption of technologically advanced features in transportation system especially in developing countries has created high demand for wheel sensors in high-speed trains. Railway lines are the prominent users of rail wheel sensors which are leading to high revenue generation in the market.


Moreover, emerging economic growth of various regions is accelerating government efforts to adopt safety components such as wheel sensors in their transportation infrastructure.                        


Key Players:


Major players operating in the global rail wheel sensor market include Smith Systems Incorporated, TE Connectivity, Argenia Railway Technologies, Frauscher Sensortechnik GmbH, Lenord, Bauer & Co. GmbH, Advanced Rail Controls Pvt. Ltd., Teksol International Pty Ltd., NSK Ltd., Altpro d.o.o., and DEUTA AMERICA Corp. among others.


Key Insights



  • New Advancements in rail wheel sensor

  • Number of Products, Key Countries, 2019

  • New Product Launches, Key Players


Regional Analysis:


Geographically, the rail wheel sensor market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the largest share of the global rail wheel sensor market and is expected to uphold its leading position in the coming years owing to the adoption of technologically advanced rail systems, rapid development of rail infrastructure as well as the improving economic conditions of this region. Developing as well as developed economies such as China, India, Japan, and Korea have a major contribution in the growth of rail wheel sensor market owing to the rapid adoption and development of railway business in these countries. Also, several manufacturers are investing a high percentage on innovation and development of technologically advanced rail components and systems in order to enhance the safety and security measures of railways and commuters. Moreover, the advancement in high-speed trains, intelligent transportation system, and new railway projects in various countries are creating high opportunities for rail wheel sensors in this region. Europe also shows a substantial growth in the global market owing to the rapid expansion of railway infrastructures. The increasing preferences of commuters for rail mode of transport as well as the high rate of adoption of automation technologies in railways is creating high traction for rail wheel sensors in this region.


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Segmentation






















 ATTRIBUTE


  DETAILS

By Product Type




  • Single Wheel Sensors

  • Double Wheel Sensors



By Application Type




  • High Speed Trains

  • Fast Trains

  • Others



By Geography



 



  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World



  • Ongoing
  • 2021
  • 2018-2020

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