Lucintel Estimates Double-Digit Growth Rates For Rail Composites Market In 2010-2015
Lucintel has analyzed the rail composites market, and has published a comprehensive research report, "Opportunities for Composites in the Worldwide Passenger Railway Market 2010- 2015".
- Dallas, TX (1888PressRelease) December 22, 2010 - Composites consumption in passenger railcars witnessed double-digit growth during 2004-2009, and is expected to grow at a similar pace for the next five years (2010-2015), surpassing $732 million by 2015.
Composites consumption in the passenger rail industry is driven by growth in the overall passenger rail market, and by increases in composites penetration in passenger railcar models. From its early adoption in high speed train sets, composites have gained increasing market penetration across a range of applications in the passenger rail industry. Composites provide several advantages over traditional materials; however, the initial cost of composites has been a key challenge for the faster growth of composites in the passenger rail industry.
Unlike the aerospace industry, the passenger rail industry is highly dominated by glass fiber composites because of their cost advantages. Glass/polyester composites accounted for the majority of the composite materials consumed, while usage of glass/phenolic composites was confined to fire risk applications that are driven by better fire, smoke, and toxicity properties.
In 2009, Europe was the dominant consumer of composites in the passenger rail industry, and is expected to maintain robust growth over the forecast period. Increased spending in railways by key Asian economies is also likely to provide significant opportunities for composite materials suppliers and molders, as other equipment manufacturers evolve region-centric strategies to cater to the growing demands in Asia.
Lucintel's research report analyzes in detail the key drivers and challenges shaping the global rail composites marketplace. The report, which provides insights into current and future opportunities in the rail composites market, looks at market size, market share, regional analysis, trends and forecasts (2010-2015), industry leaders and market share analysis, composite materials consumption from both an end-product and raw material perspective, and growth opportunities in the composites passenger rail market.
This market report is published by Lucintel, a leading global management consulting and market research firm with over 1,000 clients worldwide. To find out more, please visit www.lucintel.com.
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