Railroad Tie Market Expected Growth Opportunities Forecast by 2029 | Know the Russia Ukraine Impact On Railroad Tie Industry
The global railroad tie market size is projected to showcase promising growth over the next few years owing to the widening adoption of concrete railway sleepers around the world, finds Fortune Business Insights™ in its report, titled “Railroad Tie Market Size, Share & Industry Analysis, By Type (Wooden Tie, Concrete Tie, Steel Tie, Other), By Application (Train, Subway, Other) and Regional Forecast, 2022-2029. Railroad ties made from concrete offer a vast array of advantages compared to those offered by the traditional wooden ties. For example, concrete sleepers are denser and stronger than their wooden counterparts, allowing them to withstand greater track and train loads. Moreover, concrete does not change in composition or structure during weather changes, which is usually the case with wooden materials. As a result, concrete ties last much longer than wooden sleepers and require fewer replacements. For track circuited lines, concrete sleepers are ideal as they provide efficient insulation, thereby preventing any reaction to rain, snow, or heat. Lastly, concrete railway ties require less maintenance, which brings down the overall cost of building and operating a track and also ensures fewer track closures. The increasing utilization of concrete railroad sleepers is, thus, fueling the growth of this market.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Railroad Tie Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Railroad Tie Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
What Does the Report Offer?
- Deep research into the upcoming market opportunities;
- Granular evaluation of the market drivers, trends, and restraints;
- Microscopic analysis of all individual market segments; and
- Thorough examination of the regional developments and competitive dynamics of the market.
Environmental & Health Hazards of Railroad Ties May Impede Growth
One of the top reasons why railway ties, especially those made from wood, are witnessing decreasing demand is the health and environmental risks posed by these objects. The main issue is the use of creosote, which is used to coat wooden sleepers to ensure longevity and bolster their ability to withstand harsh climates and heavy loads. Creosote, unfortunately, is an oily derivative produced by the distillation process of coal tar, which is hard to get rid of and is highly flammable. This chemical also has considerable health hazards. For example, constant exposure to creosote can lead to chemical burns, trigger respiratory problems, increase the risk of cancer, cause eye irritation, and in extreme cases, death. Railroad workers having prolonged exposure to creosote are extremely vulnerable to the ill-effects of this chemical. As a result of the threats posed by creosote, railway companies and even governments are actively reducing their dependence of wooden sleepers and are rapidly adopting concrete and steel railroad ties.
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North America to Occupy Top Market Position Supported by Strong Railroad Infrastructure
Geographically, North America is set to lead the railroad tie market share during the upcoming decade owing to the well-established railroad infrastructure and network across the US and Canada. Furthermore, robust operations of subway networks in North America will also support the growth of the regional market. On the other hand, in Europe, particularly in Germany, the rising uptake of steel rail ties is expected to be the primary growth driver for the regional market. Expansion of railway coverage, introduction of subway systems, and growing adoption of modern railroad technologies are factors that will propel the market in Asia Pacific.
Key Players to Focus on Gaining Competitive Edge via Strategic Acquisitions
The acquisition of fellow competitors is allowing key players to cement their position in the market. These takeovers are expanding the product portfolios of the acquiring companies as well as giving them access to technologies, infrastructures, R&D facilities, and distribution networks of the acquired entities. Besides this strategy, companies are also exploring avenues to widen their presence in emerging markets and are also entering into collaborations with other players to further entrench their market position.
- January 2019: Vossloh AG announced the successful acquisition of Austrak Pty Ltd., a leading concrete sleeper manufacturer based in Australia. This move will enable Vossloh to boost its vertical integration in the Australian rail infrastructure domain and strengthen its railroad sleeper portfolio in the Australian market.
List of Key Players Profiled in the Railroad Tie Market Report:
- Gross & Janes Corporation
- Nisus Corporation
- Koppers Inc.
- Peterson Astec Industries Inc.
- Austrak Pty Ltd
- Sannosuke Kobayashi Co. Ltd.
- BRIDGEWELL RESOURCES
- A&K Railroad Materials, Inc.
- Tank Fab
- AGICO GROUP
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