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Freight Railcar Parts Market Share
These prominent companies are proactively involved in strategic endeavors including mergers & acquisitions, facility expansion, and partnerships to diversify their product offerings, expand their customer reach, and solidify their market position. Together, the top five mentioned companies collectively occupied around 5% to 10% of the global market share in 2023. They consistently allocate resources to research & development, enhancing their products and integrating innovative technologies to maintain a competitive edge.
Freight Railcar Parts Market Companies
Major companies operating in the freight railcar parts industry include:
- ABB Ltd.
- Alstom SA
- Bombardier Transportation
- CIMC Group Limited
- Faiveley Transport
- GATX Corporation
- General Electric Company
- Greenbrier Companies
- Knorr-Bremse AG
- Progress Rail Services Corporation
- Siemens Mobility
- TrinityRail
- Union Tank Car Company
- Wabtec Corporation
- Westinghouse Air Brake Technologies Corporation
Why are freight railcar parts popular in North America?
North America freight railcar parts market generated USD 3.52 billion in 2023, owing to the presence of a large and efficient rail system.
Why is the demand for covered hoppers rising?
The covered hopper type segment in the freight railcar parts industry held a revenue of USD 2.65 billion in 2023 and is poised to exceed USD 5.09 billion by 2032, as they are super adaptable and can carry lots of different dry bulk goods like grains.
How much is the freight railcar parts market worth?
The market size of freight railcar parts reached USD 10.64 billion in 2023 and is set to witness 5% CAGR from 2024 to 2032, as manufacturers are embracing new materials and technologies like lightweight composites, predictive maintenance sensors.
Who are the major freight railcar parts industry players?
ABB Ltd., Alstom SA, Bombardier Transportation, CIMC Group Limited, Faiveley Transport, GATX Corporation, General Electric Company, and Greenbrier Companies among others.