Railway AC Units Market Analysis Highlights the Impact of COVID-19 2020–2024 | Growth in Urban Mobility Solutions to Boost the Market Growth | Technavio

Technavio has been monitoring the railway AC units market and it is poised to grow by USD 2.31 billion during 2020–2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

Frequently Asked Questions-

• What was the size of the railway AC units market in 2019?
• Technavio says that the value of the market was USD 7.9 billion in 2019 and it is projected to reach USD 10.21 billion by 2024.
• Based on segmentation by application, which is the leading segment in the market?
• The rapid transit vehicles segment is expected to be the leading segment in the global market during the forecast period.
• At what rate is the market projected to grow?
• Growing at a CAGR of over 5%, the incremental growth of the market is anticipated to be USD 2.31 billion during the forecast period.
• Who are the top players in the market?
• Booyco Engineering (Pty) Ltd., Daulat Ram Engineering Services Pvt. Ltd., Gardner Denver Holdings Inc., Hitachi Ltd., Knorr-Bremse AG, Liebherr-International Deutschland GmbH, Subros Ltd., The DC AIRCO COMPANY BV, Toshiba Corp., and Westinghouse Air Brake Technologies Corp. are some of the major market participants.
• What are the key market drivers and challenges?
• Growth in urban mobility solutions and the increase in the implementation of high-speed railway lines are the major factors driving the market. However, the lack of private sector participation in developing countries restraints the market growth.
• How big is the European market?
• The market in the Europe region was valued at USD 3.7 billion in 2019 which is anticipated to grow at USD 4.93 billion during 2024.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Booyco Engineering (Pty) Ltd., Daulat Ram Engineering Services Pvt. Ltd., Gardner Denver Holdings Inc., Hitachi Ltd., Knorr-Bremse AG, Liebherr-International Deutschland GmbH, Subros Ltd., The DC AIRCO COMPANY BV, Toshiba Corp., and Westinghouse Air Brake Technologies Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Growth in urban mobility solutions has been instrumental in driving the growth of the market.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Railway AC Units Market 2020–2024: Segmentation

Railway AC Units Market is segmented as below:

• Application
• Geography
• Rapid Transit Vehicles
• Locomotives
• Railroad Cars
• Europe
• North America
• APAC
• MEA
• South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43271

Railway AC Units Market 2020–2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The railway AC units market report covers the following areas:

• Railway AC Units Market Size
• Railway AC Units Market Trends
• Railway AC Units Market Analysis

This study identifies the implementation of high-speed railway lines as one of the prime reasons driving the railway AC units market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.