Railway Bearings Demand Hurt by Sluggish Railway Infrastructure Growth during Covid-19 Outbreak: Future Market Insights
Published 2 months ago
Players in the railway bearings market are witnessing high demand for reliable products which can withstand harsh weather conditions.
The railway bearing market is projected to display healthy growth with a CAGR of more than 5.7% in the assessment period from 2020-2030. A new FMI report has stated that the Covid-19 pandemic is expected to affect the market adversely as railway sector operations, production and maintenance has come to a halt.
“Market players focus on advancements in infrastructure and need for cost-efficient solutions. Railway bearings that require minimal maintenance falls under the priority list,” states the FMI analyst.