The main objective of this feasibility study is the investigation of the possible applicability of fiber-reinforced polymer (FRP) composite materials for the manufacturing of novel freight wagon wheelsets. Conventional wheelsets (WS) made out of steel are heavy in one hand and generate high rolling noise levels on the other hand. Compared to these standard components, wheelsets made of FRP composite materials in combination with steel rims will result in weight and noise reductions. In addition, further advantages regarding maintenance costs, etc. may become possible. Such an application has not yet been implemented. It therefore needs proof of concept, detailed design standards, detailed manufacturing process definitions, and a prediction of the long-term behavior and repair/maintenance procedure for the entire life time. Within a feasibility study funded by the Swiss Federal Office for the Environment FOEN (BAFU) a proof of concept for a possible FRP wheelset has been performed. In this feasibility study concepts for such an FRP wheelset have been evaluated and the best solution further investigated. The investigations cover structural analysis according to the relevant standards for WS. Finite element models (FEM) have been developed for the analyses of stresses and deflection of the FRP wheelset. Structural assessment of the FRP has been performed in reference to different fatigue failure criteria and the influence of the temperature by the disc brakes onto the FRP structure is investigated in corresponding FE models. Furthermore, structural dynamic analyses are conducted on both conventional and FRP wheelsets for obtaining the surface vibrational velocities required for the acoustic radiation calculation. An energetic summation is used for the relative comparison between the conventional and the FRP wheelset as initial assessment of potential noise reduction.