Europe Rail Glazing Market to Garner $484.2 Million by 2028: Allied Market Research
Increase in demand for improving passenger capacity, issues related to green, safe, and economical public transportation, and replenishment of current rolling stock fuel the growth of the Europe rail glazing market. Russia accounted for the highest share in 2020, and is projected to continue its dominant share in terms of revenue by 2028. The manufacturing activities of rail glazing have been impacted due to lockdown in many countries during the pandemic. Prominent Players: AGC Inc., Dellner Romag Ltd., Fuyao Glass Industry Group Co., Ltd., GL Spezialverglasung GmbH, Independent Glass Co. Ltd., Lippert, Nippon Sheet Glass Company, Limited, OSG, Russian Glass Company (RGC), and Saint-Gobain.
Portland, OR, June 21, 2021 – According to the report published by Allied Market Research, the Europe rail glazing market generated $340.8 million in 2020, and is estimated to generate $484.2 million by 2028, witnessing a CAGR of 4.3% from 2021 to 2028. The report provides a detailed analysis of changing market dynamics, competitive scenarios, top segments, key investment pockets, value chain, and regional landscape.
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Surge in demand for passenger capacity, concerns for safe, green, and economical public transportation solution, and refurbishment of existing rolling stock drive the growth of the Europe rail glazing market. In addition, strategic partnerships with rail operators and technological innovations in railway transportation are expected to present new opportunities in the coming years.
- The production activities of rail glazing impacted considerably due to lockdown imposed by governments of many countries. In addition, raw material and labor shortages occurred.
- Overall rail transportation activities have been hindered completely or partially during the Covid-19 pandemic, which in turn, affected the rail glazing demand.
- However, rail glazing market is estimated to recover with changing passenger requirements regarding railway coaches to ensure safety, changing rolling stock manufacturing outlook, and refurbishment projects of rail.
The report offers detailed segmentation of the Europe rail glazing market based on product, application, coach type, glazing technology, and country.
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Based on product, the side windows segment held the highest market share in 2020, accounting for more than four-fifths of the total share, and is expected to maintain its lead position during the forecast period. Moreover, this segment is projected to register the highest CAGR of 4.4% from 2021 to 2028. The report also discusses the aftermarket segment.
Based on application, the OEM segment accounted for the largest share in 2020, holding nearly four-fifths of the Europe rail glazing market, and is estimated to maintain its leadership status during the forecast period. In addition, this segment is estimated to witness the fastest CAGR of 4.5% from 2021 to 2028. The research also analyzes the aftermarket segment.
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Based on country, Russia contributed to the highest share in 2020, holding around two-fifths of the total share in 2020, and is expected to maintain its dominance in terms of revenue by 2028. However, the market across U.K. is expected to manifest the fastest CAGR of 6.6% during the forecast period.
Leading players of the Europe rail glazing market analyzed in the research include AGC Inc., Fuyao Glass Industry Group Co., Ltd., Dellner Romag Ltd., Independent Glass Co. Ltd., GL Spezialverglasung GmbH, Nippon Sheet Glass Company, Limited, Lippert, Russian Glass Company (RGC), OSG, and Saint-Gobain.
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