Global Train Bogies market will reach 2270.79 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/8

There has been a remarkable growth in the use of public transport and it is estimated to remain the consistent for the forecast period. The rail industry is expected to drive the growth of the train bogies market due to the persistent inclination of the consumers towards safety and security in railway transportation. The demand will be felt from both passenger and commercial sectors. The rising research and development activities for the latest technologies to make bogies smarter and safer is acting as a driver for the overall market. Growing consumer preference to use railways as it is one of the most economical means of transportation is also favoring market growth. The global train bogies market will also be driven by factors such as cost-effective and energy efficient nature of railways.

According to the QY Research report, the global train bogies market is expected to reach US$2270.79 mn by 2025 from US$1652.72 mn in the year 2018. The market is expected to register a CAGR of 4.56% throughout the forecast period.   

Click to view the full report:
https://www.qyresearch.com/index/detail/1173984/global-train-bogies-market
This article was first released by QYResearch, if reproduced, please indicate the source.
Telephone number:020-22093278
Contact:press@qyresearch.com
When contacting, please refer to QYR company's Mia introduction.