The railway track maintenance vehicles global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Railway Track Maintenance Vehicles Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The railway track maintenance vehicles market size has grown strongly in recent years. It will grow from $5.64 billion in 2023 to $6.03 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to the need to upgrade and maintain aging railway infrastructure, stringent safety regulations, growth in passenger and freight traffic on railways, outsourcing maintenance activities, and rapid urbanization.
The railway track maintenance vehicles market size is expected to see strong growth in the next few years. It will grow to $7.96 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to a shift towards electrified railways, a focus on asset management, growing adoption of remote monitoring, an aging workforce, and demand for modular track maintenance equipment. Major trends in the forecast period include a rise in automation and integration of advanced technologies, a shift towards electric and hybrid-powered maintenance vehicles, advancements in remote monitoring, integration of robotics, and adoption of 3D printing.
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Scope Of Railway Track Maintenance Vehicles MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Railway Track Maintenance Vehicles Market Overview
Market Drivers -The increasing investments toward the development of rail infrastructure are expected to propel the growth of the railway track maintenance vehicles market going forward. Railroad infrastructure investment refers to the allocation of financial resources toward the development, maintenance, and enhancement of railway infrastructure. Railroad infrastructure investment is experiencing an upward trend, driven by several factors such as growing demand for transportation, government initiatives and funding, urbanization, and technological advancements. Investment in railroad infrastructure often involves the expansion of existing networks and upgrading and modernizing track systems, including rails and drainage systems. As railway networks expand, the demand for track maintenance vehicles increases to ensure the ongoing upkeep and safety of the expanded infrastructure. For instance, in 2023, according to the USAFacts, a US-based non-profit organization, federal spending on railroad infrastructure and transportation amounted to $38.8 billion in 2022, marking a notable increase from $33.7 billion in 2021. Therefore, the increasing investments toward the development of rail infrastructure are driving the growth of the railway track maintenance vehicles market.
Market Trends – Major companies operating in the railway track maintenance vehicles market are focusing on launching advanced products with various railway track maintenance functionalities, such as grinding rails, to gain a competitive edge in the market. Grinding rails refers to the process of using specialized grinding machines to restore the profile and surface condition of railway tracks. For instance, in February 2021, PLASSER & Theurer, an Austria-based manufacturer of rail track maintenance and track laying machines, launched an Automatic Track Machine Oscillator (ATMO) track maintenance unit, a railway track maintenance vehicle that combines standard whetstone grinding and oscillation grinding. The machine uses two grinding saddles, each with two grinding stones per rail head. The ATMO trailer is remotely controlled from the traction unit and can grind conventionally at speeds of up to 30 km/h. The four-axle unit can travel along track bends with a radius of 17.25 mt and traverse curves with a radius of 16.25 mt. When working around bends, the grinding stones are automatically positioned to remain above the rail head, and they can be lowered when passing over switches and crossings.
The railway track maintenance vehicles market covered in this report is segmented –
1) By Type: Tamping Machine, Rail Grinding Train, Stabilizing Machinery, Rail Handling Machinery, Ballast Cleaning Machine, Other Types
2) By Sales Type: New Sales, Aftermarket
3) By Application: Ballast Track, Ballastless Track
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Regional Insights – Europe was the largest region in the railway track maintenance vehicles market in 2023. The regions covered in the railway track maintenance vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the railway track maintenance vehicles market are CRRC (China Railway Rolling Stock Corporation), Vossloh AG, Tesmec USA Inc., Loram Maintenance of Way Inc., Nordco Inc., Speno International SA, ENSCO Inc., Windhoff Bahn- und Anlagentechnik GmbH, Dymax Inc., ZAGRO Group, ROBEL Bahnbaumaschinen GmbH, Kirow Ardelt GmbH, Knox Kershaw Inc., Geismar gmbh, Linsinger Maschinenbau GmbH, Plasser and Theurer, MTH Electric Trains, Permaquip Ltd., MATISA Matériel Industriel S.A., SRS Sjölanders AB
Table of Contents
1. Executive Summary
2. Railway Track Maintenance Vehicles Market Characteristics
3. Railway Track Maintenance Vehicles Market Trends And Strategies
4. Railway Track Maintenance Vehicles Market – Macro Economic Scenario
5. Global Railway Track Maintenance Vehicles Market Size and Growth
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32. Global Railway Track Maintenance Vehicles Market Competitive Benchmarking
33. Global Railway Track Maintenance Vehicles Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Railway Track Maintenance Vehicles Market
35. Railway Track Maintenance Vehicles Market Future Outlook and Potential Analysis
36. Appendix
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