Sales of Railcar Spill Containment Are Projected to Increase at A CAGR of Over 5% During 2021 – 2031

Posted on 2022-10-18 by Fact.MR in Industrial // 0 Comments

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. To attract newer customers, market players have been involved in practicing unique market strategies, one of which includes custom made railcar track pans. From the past decade, manufacturers have bagged deal with customers promising customization of railcar track pans based on end use. This lets clients avail length and breadth options, such as, they can choose whatever they want from a broacher list provided by companies, which also gives them the leverage of selecting mechanical designs.

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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.

“Rising petrochemical and oil & gas industries hold significant opportunities for railcar spill containment suppliers, with preventing oil leakage being the utmost priority.” says a Fact.MR analyst.

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.
In 2018, Eagle Manufacturing was acquired by Justrite Safety Group. This acquisition will lead the company’s strategy to better serve customers of industrial safety products, including rail car spill containment.

How is U.S. Faring in the Growing Railcar Spill Containment Industry?

The U.S. is a key market for railcar spill containment. The market is estimated to expand at a significant CAGR of 6.2% and will represent a total incremental opportunity of over US$ 6.3 Mn in terms of value during the forecast period.

Implementation of Spill Prevention, Control, and Countermeasure (SPCC) Regulations under the United States Environmental Protection Agency has resulted into mandatory implementation of railcar spill containment across the country, consequently boosting demand.

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Competitive Landscape

Majority companies discussed in the report have focused on expansion, investments, acquisitions, delivery, portfolio expansion, and brand development.

Some of the key developments are:

In 2020, Safe Rack has partnered with Ultratech International to designate spill prevention month in July. These companies has joined the forces to share the awareness of developing comprehensive plan for investing in railcar spill containment.
In 2020, the century group has partnership with a chemical company in US for the installation of railcar track pans. These pans were installed in rail roads for trans loading the chemicals.
In 2018, Eagle Manufacturing has been acquired by Justrite safety group. This acquisition will lead the company’s strategy to better serve the customers within industrial safety products including rail car spill containment.
In 2018, Pactec has announced a new manufacturing plant in USA with an investment of US$ 500 K. This new expansion of the company will fabricate the auxiliary items and dewatering filters for railcar spill containment.
In 2018, Enpac has launched a new product 5483-YE Double IBC Dispensing Station made up of plastic to endorse it between the rail and roads. This new product saves floor spaces without sacrificing adjusting compliances.

Similarly, recent developments related to companies offering railcar spill containment have been tracked by the team at Fact.MR, which are available in the full report.

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

By End Use

Railcar Spill Containment for Power Plants
Railcar Spill Containment Oil & Gas Industries
Railcar Spill Containment Petrochemical Industries
Railcar Spill Containment Others Industries

Key Points Covered in Railcar Spill Containment Industry Survey:

Market Estimates and Forecasts (2016-2031)
Key Drivers and Restraints Shaping Market Growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Market Share Analysis
COVID-19 Impact on Railcar Spill Containment and How to Navigate
Recommendation on Key Winning Strategies

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