Track Geometry Measurement System Global Market to Generate $4.55 Billion By 2028, Registering at a CAGR of 6.6%

Overview and Scope
The track geometry measurement system (TGMS) is a crucial technology in the rail sector for evaluating track safety and maintenance schedule. It delivers precise and dependable track data for both short-term and long-term maintenance planning.

Sizing and Forecast
The track geometry measurement system market size has grown strongly in recent years. It will grow from $3.3 billion in 2023 to $3.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to safety regulations compliance, maintenance cost reduction, asset management optimization, operational efficiency improvement, increasing rail traffic, cost-effective upgrades.

The track geometry measurement system market size is expected to see strong growth in the next few years. It will grow to $4.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to integration with iot and ai, rising global rail investments, growing emphasis on predictive maintenance, environmental sustainability, expansion of high-speed rail networks. Major trends in the forecast period include integration of advanced technologies, focus on high-speed rail networks, remote monitoring and automation, data standardization and interoperability, predictive maintenance and condition-based monitoring.

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Segmentation & Regional Insights
The track geometry measurement system market covered in this report is segmented –
1) By Type: Gauge, Twist, Vertical Profile
2) By Product Types: Track Geometry Trolley, Track Geometry Inspection Vehicle (TGIV), Autonomous Track Geometry Measurement System (ATGMS)
3) By Application: High Speed Railways, Heavy Haul Railways, Light Railways, Mass Transit Railways

Asia-Pacific was the largest region in the track geometry measurement system market in 2023. Europe was the second-largest region in the track geometry measurement system market. The regions covered in the track geometry measurement system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The rising network of metro and high-speed trains is expected to boost the growth of the track geometry measurement systems market going forward. High-speed rail refers to passenger rail networks that operate at speeds ranging from 200 to 300 km/h and, in certain cases, higher. The track geometry measurement systems are used on high-speed railways to help monitor track quality and guarantee that the tracks are safe for the posted speed by measuring track conditions regularly. For instance, as per the report published by the Australian Railway Association, an Australian-based railway association, in 2021–22, Australian railway building activity increased by 2.2% to $10.73 billion. Furthermore, in January 2023, as per the data published by China State Railway Group Co., Ltd., the railway corporation of China, in 2022, a total of 4,100 kilometers of new railway lines were put into service in China, including 2,082 kilometers of high-speed tracks. Therefore, the rising network of metro and high-speed trains is driving the growth of the track geometry measurement systems market.

Key Industry Players
Major players in the track geometry measurement systems market are increasingly focusing on partnerships to improve their financial strength and geographical presence. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For example, in September 2021, Holland, a US-based dedicated engineering-based company servicing the railroad and related industries, and Cordel, an Australia-based provider of automated infrastructure inspection solutions, announced their new partnership to expand Holland’s suite of track measurement services to include LiDAR technology. Holland’s LiDAR powered by Cordel provides customers with a range of data applications such as track imagery, clearance validation, line of sight measurements, condition assessments and more.

The track geometry measurement system market report table of contents includes:
1. Executive Summary