Railway Maintenance Machinery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Railway maintenance machinery refers to the equipment used to monitor and fix damages on the railway tracks. Some of the commonly used machineries include tampers, ballast regulators, dynamic track stabilizers, ballast cleaners and undercutters. They are majorly used for inspecting, repairing and maintaining railway tracks to ensure smooth functioning and enhanced operational life of the railway tracks. They are also utilized for the mechanical maintenance of vertical and horizontal alignment of the railway tracks. The equipment can be utilized on both ballast and non-ballast tracks to lift the sleeper and pack the ballast to prevent abrasion, deformation, change of geometry and damage to various components of the tracks.
Railway Maintenance Machinery Market Trends:
Significant improvement in the railway infrastructure, especially in developing economies, is one of the key factors driving the market growth. Governments are extensively investing in refurbishing the existing railway tracks to provide a secure, safe and efficient travel experience to the masses. Moreover, increasing instances of railway accidents and train derailment is also providing a thrust to the market growth. Periodic maintenance activities aid in preventing such incidents and minimizing the loss of lives and property. In line with this, the widespread adoption of electric trains in place of fuel-powered trains is also increasing the demand for railway maintenance machinery. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and artificial intelligence (AI) solutions, are acting as other growth-inducing factors. Railway maintenance organizations are using scalable and cloud-based systems for signaling, controlling, supervising and protecting railway systems. Other factors, including rapid urbanization, along with the implementation of favorable government policies, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global railway maintenance machinery market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, application and sales type.
Breakup by Product Type:
Rail Handling Machinery
Ballast Cleaning Machinery
Breakup by Application:
Breakup by Sales Type:
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being American Equipment Company Inc (Fluor Corporation), China Railway Construction Corporation Limited, Geatech Group srl, Harsco Corporation, Loram Maintenance of Way Inc. (Coril Holdings Ltd.), MATISA Industrial Materials S.A, Plasser & Theurer, Speno International SA, Strukton, Teräspyörä-Steelwheel Oy
Key Questions Answered in This Report
1. What was the size of the global railway maintenance machinery market in 2021?
2. What is the expected growth rate of the global railway maintenance machinery market during 2022-2027?
3. What are the key factors driving the global railway maintenance machinery market?
4. What has been the impact of COVID-19 on the global railway maintenance machinery market?
5. What is the breakup of the global railway maintenance machinery market based on the product type?
6. What is the breakup of the global railway maintenance machinery market based on the application?
7. What is the breakup of the global railway maintenance machinery market based on the sales type?
8. What are the key regions in the global railway maintenance machinery market?
9. Who are the key players/companies in the global railway maintenance machinery market?
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook