What is the Concentration Aspect of the Market for Railcar Spill Containment

As per a revised report published by Fact.MR – a market research and competitive intelligence provider, the global railcar spill containment market is anticipated to exceed a valuation of US$ 22,510 ‘000 by 2021, and expand at an impressive CAGR of 5% over the forecast period of 2021 to 2031.

The market is in its growth phase, registering annual growth of 1.6% during 2016 – 2020. Fact.MR anticipates significant potential in the market, owing to factors such as growing oil & gas industries and rising demand for avoiding leakages.

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Key Takeaways from Market Study

• Railcar track pans are expected to remain the most attractive and are likely to witness an absolute dollar opportunity of US$ 10,210 ‘000 during 2021 – 2031.
• Based on material, fiberglass composites are anticipated to be the most lucrative with growth of 5.7 CAGR.
• Based on material, demand for reinforced concrete-based railcar spill containment is expected to grow 1.5X during the projection period.
• Together, North America and Europe represented close to 60% of overall market share in 2020.
• The market in East Asia is expected to lose 87 BPS from 2021 to 2031, and emerge as a market valued at US$ 5,400 ‘000 Mn by 2031.

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Market Segments Covered in Railcar Spill Containment Industry Analysis

By Product

• Railcar Track Pans
• Railcar Track Berms
• Railcar Containment Mats

By Material

• Fibreglass Railcar Track Pans
• Reinforced Concrete Railcar Track Berms
• Aluminium
• Stainless Steel
• Galvanised Steel
• Polyethylene
• Poly Vinyl Chloride

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Fragmented Market

The railcar spill containment market has been witnessing several acquisitions and mergers. Many new manufacturers have entered the business in addition to companies that are already working in this vertical. Spending on R&D is being done to launch new technologies into the market. Presence of numerous players makes the landscape quite fragmented.

In 2020, the Century Group partnered with a chemical company in the U.S. for the installation of railcar track pans. These pans were installed in railroads for loading chemicals.

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