According to IMARC Group latest report titled “Railway Maintenance Machinery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on railway maintenance machinery market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global railway maintenance machinery market reached a value of US$ 4.25 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.30 Billion by 2027, exhibiting a CAGR of 6.42% during 2022-2027.
Railway maintenance machinery refers to the equipment used to repair and maintain the railway tracks. Tamping, rail handling, stabilizing and ballast cleaning equipment are some commonly available types of railway maintenance machinery. They are used to monitor, inspect and maintain the alignment of the railway tracks and can be utilized on both ballast and non-ballast tracks. These machineries aid in enhancing overall safety, replacing the rails, reducing operational costs, fuel consumption, wear and tear of components and increasing the life of the railway tracks.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Market Trends:
The global railway maintenance machinery market is primarily being driven by the increasing incidences of railway accidents and mishappening. Railway maintenance machinery assists in ensuring operational safety and security and preventing such incidents. Moreover, various technological advancements, such as the integration of artificial intelligence (AI) and the Internet of Things (IoT) to control, supervise and protect railway systems, are providing a thrust to the market growth. Other factors, including rising government expenditures on infrastructural development, along with rapid electrification of railway systems, especially in the emerging economies, are anticipated to positively impact the market growth.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- American Equipment Company Inc
- China Railway Construction Corporation Limited
- Geatech Group srl
- Harsco Corporation
- Loram Maintenance of Way Inc.
- MATISA Industrial Materials S.A
- Plasser & Theurer
- Speno International SA
- Strukton
- Teräspyörä-Steelwheel Oy
Railway Maintenance Machinery Market Segmentation:
Our report has categorized the market based on region, product type, application and sales type.
Breakup by Product Type:
- Tamping Machine
- Stabilizing Machinery
- Rail Handling Machinery
- Ballast Cleaning Machinery
- Others
Breakup by Application:
- Ballast Track
- Non-Ballast Track
Breakup by Sales Type:
- New Sales
- Aftermarket
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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