The global Track Geometry Measurement System Market is expected to grow from USD 2.51 billion in 2017 to USD 3.62 billion in 2023, at a CAGR of 6.53% during the forecast period from 2027 to 2030.
Track Geometry Measurement System Market Overview:
Track geometry measurement system is used to assess the condition of railway tracks. Various inspection systems and methods are introduced into the market according to the requirements of inspection facilities and railway track expansion. The accuracy and reliability of orbital data is critical for immediate or long-term maintenance. Rising development and investment in railway systems in several countries is likely to drive the overall growth of the track geometry measurement system industry.
Harsh climatic conditions and hazardous situations are the main challenges in carrying out the assessment process. However, the advent of automated maintenance and assessment vehicles and laser-equipped measurement systems are able to operate with minimal human assistance while providing precise data and relaying defects or any deformations in the track to the relevant authorities. Real-time data transmission without GPS interruption and accuracy further fuels the overall growth of the track geometry measurement system industry.
Track Geometry Measurement System market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Track Geometry Measurement System market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global Track Geometry Measurement System market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
Significant Track Geometry Measurement System Market Dynamics and Growth Factors:
Increased Demand for Track Geometry Measurement Systems from High-Speed Rail and Mass Transit Rail
The global track geometry measurement system market is projected to grow rapidly due to increase in demand from high-speed rail. High-speed trains are known as protected style trains. High-speed rail developments have steadily progressed, giving a boost to the global track geometry measurement system market. One of the main drivers of the TGMS market is the existence of a wide range of rail industry specifications and legislation and the need to incorporate track geometry measurement solutions to meet these standards. Introduction of track geometry systems for track maintenance and rising network of metro and high-speed trains are among the other factors driving the TGMS market. Moreover, with the high acceptance rate, TGMS manufacturers have increased the accuracy and longevity of such systems as well as their size, which is expected to further increase the sale of these systems.
Railway Type Market Insight
Based on railway type, the track geometry measurement system market is sub-segmented into high-speed railways, conventional railway, heavy haul railways, and light railways. The conventional railway segment dominated the track geometry measurement system market; whereas, the high-speed railways segment is expected to grow at the fastest rate during the forecast period. High-speed railway is a type of rail transport that runs significantly faster than traditional railway, using an integrated system of specialized rolling stock and dedicated tracks. The growing demand for smart technologies to maintain the operational efficiency of tracks and rapid development in high-speed railways is propelling the growth of the global track geometry measurement system market. Growing demand for track geometry measurement systems from developing economies and the expansion of high-speed railway networks in some countries are expected to offer various opportunities to the market players.
Operation Type-Based Market Insights
Based on operation type, the track geometry measurement system market is bifurcated into no contact and contact. The contact segment dominated the track geometry measurement system market; whereas, the no contact segment is expected to grow at a faster rate during the forecast period. Besides, it ensures high accuracy with the help of advanced technologies such as imaging technologies and optical laser sensors. Therefore, this type of operation method is gaining popularity for track geometry measurement.
- In 2020, ENSCO Rail Autonomous track geometry measurement system was recently featured in the March and April. ENSCO Rail Autonomous Track Geometry Measurement System can be installed on locomotives, passenger, and freight cars. The system is cited as a way for railway maintenance operators to inspect track with reduced costs, increased frequency and speed, and without any impact on railway traffic flow. Progressive Railroading magazine and its website progressiverailroading.com are leading provider of news and information on the rail industry.
- In 2020, Fugro’s unique train-borne track measurement system, RILA, has received approval from Network Rail for the use in platform gauging and would support current and future route-wide surveys. The system helps reduce the requirement for manual surveying, and the associated reduction in risk to staff is an added advantage.
Top Key Players include in the Track Geometry Measurement System Market are
Ensco, Fugro, Mer Mec, Balfour Beatty, Plasser & Theurer, Egi, Mrx, Bance, Bentley, Goldschmidt, and others.
The Track Geometry Measurement System market research report is categorized based on type, applications and region.
On the Basis of Type:
- Cant And Cant Deficiency
- Vertical Profile
- Dynamic Cross-Level
- Dipped Joints
On the Basis of Application:
- High-Speed Railways
- Mass Transit Railways
- Heavy Haul Railways
- Light RailwaysÂ
On the Basis of Region:
Geographically, the global Track Geometry Measurement System market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Track Geometry Measurement System region is dominating this market in the upcoming future.
Asia Pacific dominates the track geometry measurement system market owing to the expansion of high-speed rail and mass transit systems in the region. North America is expected to witness significant growth over the forecast period 2021 to 2028 owing to the growing economy in the region.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Track Geometry Measurement System Market report scope
CAGR of 6.53% during forecast period.
Gauge, Twist, Cant And Cant Deficiency, Vertical Profile, Curvature, Alignment, Dynamic Cross-Level, Dipped Joints
High-Speed Railways, Mass Transit Railways, Heavy Haul Railways, Light RailwaysÂ
Ensco, Fugro, Mer Mec, Balfour Beatty, Plasser & Theurer, Egi, Mrx, Bance, Bentley, Goldschmidt
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2023 to 2030
The major key questions addressed through this innovative research report:
What are the major challenges in front of the global Track Geometry Measurement System market?
Who are the key vendors of the global Track Geometry Measurement System market?
What are the leading key industries of the global Track Geometry Measurement System market?
Which factors are responsible for driving the global Track Geometry Measurement System market?
What are the key outcomes of SWOT and Porter’s five analysis?
What are the major key strategies for enhancing global opportunities?
What are the different effective sales patterns?
What will be the global market size in the forecast period?
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