Newark, Oct. 17, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global Track Geometry market is expected to grow from USD 3.35 Billion in 2022 to USD 5.94 Billion by 2032, at a CAGR of 5.90% during the forecast period 2023-2032.
The rising need for security & safety in railway transport, the advancement in railway networks and metro lines, and the increasing use of track geometry measurement systems for track upkeep are significant elements for the growth of the global track geometry mark.
Get a sample of the report from: https://www.thebrainyinsights.com/enquiry/sample-request/13278
Competitive Strategy
To enhance their market position in the global Track Geometry market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In October 2022: TCDD (The Republic of Turkey State Railways) signed an agreement with Tesmec S.p.A. (a company in electronic devices, stringing and railway equipment, rock trenching, and surface miners for smart grid management) to provide an innovative diagnostic device combined with measuring devices to examine the railway network. The contract contains the design and construction of the diagnostic tool and onboard diagnostic systems, the training of local operators, and the inspection of diagnostic procedures.
Market Growth & Trends
Track geometry measurement is the most crucial method in the rail industry for evaluating track safety and maintenance planning. Track geometry conditions are substantial elements causing vehicle/track interaction derailments like wheel climb, spreading gage (gauge), and rail rollover type derailments. Track geometry conditions can also push other derailments, like broken fasteners, broken rail, and thermal misalignment type derailments. The track geometry system can confirm that the track geometry condition is within limits to provide safe functions. The entire goal of track maintenance is to deliver the track and to keep the timetable. Transit and rail owner-operators achieve it via four objectives that are to provide a trustworthy rail system to assure that the required services are available and that all assets are fit for purpose, to give safety to all passengers and staff, and to provide security for passengers dependent on the rail system, to give economic prosperity for a rail organization via optimal and sustainable maintenance activities; and lastly, to deliver a comfortable ride for the customer, decreasing noise and enhancing ride quality. With increasing concerns about the safety of railways and technical advancements in the multiple areas of the railway industry, governments of numerous countries have executed rules and regulations that show the requirement to comply with the standards set by the government. The manufacturers operating in the market have been creating innovations to meet the need of the end-user industry and capitulate with the standard guidelines, therefore improving the authenticity of these systems, which is anticipated to grow in the track geometry market in the future.
Enquire before purchasing this report at: https://www.thebrainyinsights.com/enquiry/buying-inquiry/13278
Key Findings
• In 2022, the mass transit segment dominated the market with the largest market share of 27% and market revenue of USD .90 Billion.
The railway type segment is divided into high-speed, mass transit, heavy haul, and light. In 2022, the mass transit segment dominated the market with the largest market share of 27% and market revenue of USD .90 Billion. The increasing need for precise measures of track geometry parameters and noticing variations from the preferred track geometry is promoting the growth of mass transit railways..
• In 2022, the gauge segment dominated the market with the largest market share of 18% and market revenue of USD .60 Billion.
The measurement type segment is divided into twist, vertical profile, dipped joints, dynamic cross-level, gauge, alignment, and others. In 2022, the gauge segment dominated the market with the largest market share of 18% and market revenue of USD .60 Billion. Gauge is one of the critical parameters of track geometry measurement. The wheelsets of the rails should be compatible with the track gauge, or else it could result in deadly accidents due to derailment.
• In 2022, the no contact segment dominated the market with the largest market share of 56% and market revenue of USD 1.88 Billion.
The operation type segment is divided into contact, and no contact. In 2022, the no contact segment dominated the market with the largest market share of 56% and market revenue of USD 1.88 Billion. A no contact-based track geometry is a system that can measure the geometry of a railway track without physically touching it. It uses sensors mounted on a vehicle that runs along the track. The data from the sensors is then processed to make a three-dimensional model of the track.
Regional Segment Analysis of the Track Geometry Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global Track Geometry industry, with a market share of 34.6% and a market value of around USD 1.16 Billion in 2022. The rising penetration of cutting-edge technologies promotes the market's growth in the Asia Pacific region. The robust development of high-speed rails and mass transit systems in India and China, along with various types of railway developments in the nations like Australia, India, and China, is the basis for the growth of track geometry measurement systems in the region.
To purchase research report: https://www.thebrainyinsights.com/buy-now/13278/single
Key players operating in the global Track Geometry market are:
• Amberg Technologies
• Balfour Beatty plc.
• Bentley System Inc.
• Egis Group
• Ensco Inc.
• Furgo Inc.
• Goldschmidt Thermit Group
• Harsco Corporation
• Hitachi Corporation
• Holland Lp.
• Mermec Inc.
• Plasser & Theurer.
• R Bance & Co Ltd
• Siemens AG
• Zg Optique Sa
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global Track Geometry market based on below mentioned segments:
Global Track Geometry Market by Railway Type:
• High-Speed
• Mass Transit
• Heavy Haul
• Light
Global Track Geometry Market by Measurement Type:
• Twist
• Vertical Profile
• Dipped Joints
• Dynamic Cross-Level
• Gauge
• Alignment
• Others
Global Track Geometry Market by Operation Type:
• Contact
• No Contact
Have Any Query? Ask Our Experts: https://www.thebrainyinsights.com/enquiry/speak-to-analyst/13278
About the report:
The global Track Geometry market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the clients objectives of high-quality output within a short time. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. The customized solutions are tailored to meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
