The global rail wheel and axle market was valued at USD 4,656.2 million in 2024 and is witnessing steady growth driven by the expansion of rail infrastructure and increasing freight and passenger transport needs. With rising demand from end users, the market is projected to grow at a compound annual growth rate (CAGR) of 5.6% during the forecast period. The market value is expected to rise from USD 4,917.0 million in 2025 and reach approximately USD 8,478.8 million by 2035.
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