China to Retain Global Rail Wheel Market Share in Coming Years

China to Retain Global Rail Wheel Market Share in Coming Years
Rail wheel is a booming market for major economies. Largely demand is driven by government projects, economic activities like freight corridor expansion, port to rail connectivity and public welfare schemes. If we see the growth scenario of last 5 years it is around 2.3% to 2.5% CAGR.
 
China is having the Lion's share in Rail Wheel market which is around 25% which expected raise in year 2017 and reach 27.1%, Europe and United States captures the next big slices of pie.
 
Train wheels are majorly segmented into forged and rolled rail wheels; Rolled rail wheels control more than 50% of total market share.
 
Global Rail Wheel Consumption share by Geography (Estimated for Year 2017)
 
Global Rail Wheel Consumption share by Geography (Estimated for Year 2017)

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