Increasing consumer needs for security and safety is majorly driving the growth of global market for railway buffer stops. The production sales of this product is expected to increase mainly due to increasing public transport across the globe. Strict rules and regulations by ruling authorities and governments in developing and developed economies related to passenger and driver safety and security have been favorably influencing the growth of global market.
Companies namely GMT Rubber-Metal-Technic Ltd, Star Track Fasteners Pvt. Ltd., Gantrex, Rawie, Caterpillar, Industrispår AB, Martinus Rai, G.J Price Railway Contractors Limited, OLEO International and Applegate will observe a significant growth worldwide. Leading companies are working on marketing strategies such as product innovations and expanding their product portfolio. Apart from this, companies such as Network Rails are also contributing towards the expansion of global market for railway buffer stops. The company is working towards driving innovation, increasing cost-efficiency as well as third party funding by maintaining passenger safety and security.
Network Rail to Enhance Efficiency of Its Working Standards
Network Rails has been encouraging stakeholders, suppliers and contractors for proposing changes in its working standards, which includes requirements that would underpin services in railways can be improved. This in turn will increase safety and security measures for passengers travelling in the trains as well. According to the current scenario, Network Rails has changed nearly 400 working standards within the time span of 18 months, for reducing the cost and complexity along with adoption of new tech technological innovations. Better maintenance solutions will also be adopted, which is expected to increase the need for railway buffer stops.
Network Rails is planning to increase its customer base and be competitive and commercially lucrative for investors. The company has also made ways to encourage working Standards Challenge Application from the stakeholders and suppliers, which eventually would help in eliminating existing limitations. The changes will include capabilities regarding compatibility, environment, performance and safety.
Network Rail to Work towards Cost Reduction across Railway Sector
Network Rail is planning to provide incentives to stakeholders and suppliers in order to keep them engaged towards the company’s betterment. The company wishes to provide best solutions for the smooth flow of railway services, thereby increasing its position in the global market for railway buffer stops. The recommendation to review the company’s working standards were given by Hansford Review. Network Rails conducted nearly two workshops with railway supply chain and now the system offered by the company enables other market players to provide their ideas and suggestions.
RIA (Railway Industry Association) is looking forward to continue its active role in this project by working together with Network Rail, for ensuring that railway standards turn out to be the most efficient and is beneficial even for the forthcoming years. GRP (glass reinforced plastic) products by Dura Composites have been playing an important role in strengthening the electrical resistance, durability and weight ratio of the rails and has now updated its fire safety provisions as well. Working standards include both structural as well as non-structural applications.
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