According to Future Market Insights' most recent market estimate, the railway emergency valves market is worth US$ 1,957.87 Mn in 2023 and expected to reach US$ 3,312.77 Mn by 2033, registering at a CAGR of 5.4% during the forecast period.
The market share is projected to increase quickly as a result of the emphasis on safety standards, rising demand for rail infrastructure, and increased attention to safety regulations. Railway emergency valves are more popular in the railway sector, as they can guarantee safe braking and emergency response in the event of any disruption or system malfunction.
The growing investment in the railroad industry has propelled the market share for railway emergency valves. Modern rail infrastructure and equipment have been built as a result of the increasing investment to meet the growing demand for efficient train services.
The global market share is being impacted by the increased demand for railway emergency valves from the defense industry. The military industry's reliance on rail travel has increased the need for efficient transportation networks over time.
It is also anticipated that the development of cutting-edge technologies, such as automated valves and sensors, have an effect on the market expansion for railway emergency valves.
In order to conduct business freely across many industries, manufacturers must obtain a single certification and set of regulations for each application. It encourages new businesses to expand, which raises overall profit production across all industries.
For more information: https://www.futuremarketinsights.com/reports/railway-emergency-valves-market
Key Takeaways
The railway emergency valves market is likely to register at a CAGR of 5.4% during the forecast period.
Historically, the railway emergency valves market had a CAGR of 3.8% between 2018 and 2022.
The value of the railway emergency valves market is expected to be US$ 3,312.77 Mn by 2033.
Based on type, freight wagons hold a 69.4% share of the railway emergency valves market by 2033.
Based on shutdown valves, the automatic shutdown valve is anticipated to experience the highest CAGR of 9.2% over the projection period.
With a share of 19.4% throughout the forecast period, the US market participants are significantly boosting the demand for railway emergency valves.
From 2023 to 2033, the railway emergency valves market in China is anticipated to expand at a CAGR of 6.4%.
During the predicted period, the UK is forecast to expand at a CAGR of 4.4% in the railway emergency valves market.
Competitive Landscape
To increase their market share and position in the railway emergency valves market, manufacturers are using strategies such as product innovation, mergers and acquisitions, partnerships, and collaborations.
Key players
Cameron
Emerson
Flowserve
Schneider Electric
Johnson Control
IMI
Parker Hannifin
General Electric
Metso
J Flow Controls
Rico
Winn-Marion
Pekos Valves
MIR VALVE
PFF
Accord
DERVOS VALVES
AMOT
MOGAS
Recent Developments:
In September 2019, Emerson acquired the Spence and Nicholson product lines from CIRCOR International. One of the top manufacturers of flow and motion control systems for the most demanding mission- and service-critical applications is CIRCOR International.
The acquisition expanded Emerson's wide range of steam system solutions for commercial buildings and industrial processes.
Additionally, in April 2020, Emerson unveiled its new Remote Assistance service capabilities. This solution makes use of augmented reality (AR) technology to assist plant operators in promptly addressing issues with industrial valves.
The AR technology uses a dependable, secure channel that complies with ISO 27001 standards.
In order to enhance and grow its valve business, Ross Controls Company, a multinational corporation with operations in India, stated in August 2019 that it has acquired Pneumatrol Ltd.
Key segments
By Type:
Passenger Train
Freight Wagon
By Product:
Pneumatic
Hydraulic
By Shutdown Valve:
Manual Shutdown Valve
Automatic Shutdown Valve