Railway Maintenance Machinery Market: North America held 42% in 2022, Ballast tracks segment to grow at the highest rate - Technavio
NEW YORK, Nov. 29, 2022 /PRNewswire/ -- The railway maintenance machinery market size is estimated to grow by USD 1,442.03 million. The growth momentum of the market will accelerate at a CAGR of 6.4% during the forecast period, according to Technavio. North America held 42% of the global railway maintenance machinery market growth in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. The need for carrying out upgrades and maintenance work on the existing railway networks will facilitate the railway maintenance machinery market growth in North America over the forecast period.
Technavio has segmented the railway maintenance machinery market based on application (ballast track and non-ballast track), product (work vehicles and small equipment), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The report provides a comprehensive analysis on growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market.
The ballast track segment will grow at the highest rate during the forecast period. Ballast tracks are the traditional type of railway tracks. They are generally composed of railway fasteners, steel rails, ballast beds, and railroad ties. Railway maintenance machinery helps in monitoring and maintaining ballast tracks and improving operational safety. It is used to carry out necessary tasks such as tamping and cleaning the ballast, removing and inserting ties, tightening rail bolts, excavating and replacing worn ballast, and aligning the ballast tracks.
The increasing number of railway electrification projects is driving the global railway maintenance machinery market growth.
The number of railway electrification projects has increased, as electric trains are more economically viable and sustainable than fuel-powered trains.
Moreover, electric engines enable a significant reduction in emissions and faster acceleration and deceleration of engines compared with diesel engines.
In addition, governments of various countries are planning to increase the electrification of railways during the forecast period, with the rising environmental concerns and regulations.
Leading trends influencing the market
The IoT-based remote monitoring of trains and tracks is a key trend in the market.
The adoption of the Internet and IoT helps in increasing the operational efficiency of business processes.
The components of a railway network should be managed effectively. This can be managed efficiently by adopting IoT technologies along with analytics.
The applications of railway maintenance processes are estimated to increase for business process optimization.
Such factors will support the growth of the market during the forecast period.
Drivers and trends are the factors of market dynamics that state about consequences and sustainability of businesses. Find insights from a free sample report!
Competitive analysis
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. Buy the Report
What are the key data covered in this railway maintenance machinery market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the railway maintenance machinery market between 2023 and 2027
Precise estimation of the size of the railway maintenance machinery market size and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the railway maintenance machinery market across APAC, North America, Europe, Middle East and Africa, and South America
Thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of railway maintenance machinery market vendors
The tire building machinery market size is projected to increase by USD 111.55 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.34%. Furthermore, this report extensively covers tire building machinery market segmentation by application (passenger cars and commercial vehicles) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The blow molding machinery market size is projected to increase by USD 994.14 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.21%. Furthermore, this report extensively covers the blow molding machinery market segmentation by end-user (food packaging, construction, and others) and geography (North America, APAC, Europe, South America, and the Middle East and Africa).
Railway Maintenance Machinery Market Scope
Report Coverage
Details
Page number
120
Base year
2022
Historical year
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 6.4%
Market growth 2023-2027
USD 1,442.03 million
Market structure
Fragmented
YoY growth (%)
5.5
Regional analysis
APAC, Europe, North America, Middle East and Africa, and South America
Performing market contribution
North America at 42%
Key consumer countries
US, China, UK, Germany, and France
Competitive landscape
Leading companies, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Companies profiled
Alamo Group Inc., American Equipment Co., BBM Railway Equipment LLC, China Railway Construction Corp. Ltd., CRRC Corp. Ltd., Dipsa Technes Srl, GEATECH Group Srl, Harsco Corp., Jinzhou Tiegong Railway Maintenance Machinery Co. Ltd., Loram Maintenance of Way Inc., MATISA MATERIEL INDUSTRIEL SA, Pandrol SAS, Plasser & Theurer, Export von Bahnbaumaschinen GmbH, ROBEL Bahnbaumaschinen GmbH, Siemens AG, Sinara Transport Machines Holding, Speno International SA, Strukton Groep NV, Teraspyora Steelwheel Oy, and United Industrial Pty Ltd.
Market Dynamics
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
Customization purview
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.
Exhibit 154: Sinara Transport Machines Holding - Overview
Exhibit 155: Sinara Transport Machines Holding - Product / Service
Exhibit 156: Sinara Transport Machines Holding - Key offerings
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 157: Inclusions checklist
Exhibit 158: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 159: Currency conversion rates for US$
13.4 Research methodology
Exhibit 160: Research methodology
Exhibit 161: Validation techniques employed for market sizing
Exhibit 162: Information sources
13.5 List of abbreviations
Exhibit 163: List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
CN announced that the director nominees listed in the management information circular dated March 4, 2024 (the "Information Circular"), were elected as directors of CN. The detailed results of the vote for the election of directors held at CN's...
Grossman Law Offices, with its principal office in Dallas, TX, expresses concern and support for Eric Elliott and his family following a truck accident that occurred on February 20, 2024, just before 4:45 p.m. along U.S. Highway 67 in Johnson County,...
In celebration of Earth Day, SunTrain ? a pioneer in renewable energy distribution ? visited the Port of Oakland to showcase the benefits of its "Trainsmission" technology on energy distribution, and how it could contribute to the Port's leadership...
The Greenwich Concours d'Elegance, an annual enthusiast motoring event, features a meticulously curated selection of vehicles, embodying the pinnacle of automotive design and engineering from May 31st to June 2nd...
DealerFire, a leader in automotive digital marketing, is revolutionizing how dealerships showcase their inventory and connect with customers online with its innovative Engine6 website platform.
Engine6 empowers dealerships to create fully customized...
On April 28, Samuel De Champlain Bridge will be lit up in purple, from sunset to 9 p.m., to honour the National Day of Mourning.
Note: After 9 p.m., the architectural lighting will return to the blue-green illumination that reduces the risk of...