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Track Geometry Measurement System Market: Global Industry Analysis, Size, Share, Growth 2029
Track Geometry Measurement System Market
A track geometry measurement system is used to collect data regarding the condition of a railway track to prevent any type of casualty during passenger or freight transportation. It is an essential system to monitor the track conditions to safeguard the rail network. The track geometry measurement system also provides the data for the scheduling of short term or long term maintenance of the railway tracks.
Furthermore, the track geometry measurement system is available in various operational types in the market such as, contact and no-contact. The no-contact type track geometry measurement system can be further divided into inertial-based and chord-based. The inertial-based type expected to have significant growth opportunity in the track geometry measurement system market due to its lightweight nature and compact track geometry measurement system, which provide precise geometry evaluation of a rail track in different operational conditions. However, high initial cost and lack of appropriate infrastructure for the installation of track geometry measurement system may affect the growth of the market.
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Track Geometry Measurement System Market: Dynamics:
Railway is one of the most vital mode of transportation for passengers and freight around the world. The demand for safety and security of rail transport is a subject of high priority in all markets. The increasing need of an effective and efficient railway track management system is expected to significantly drive the global track geometry measurement system market during the forecast period.
Furthermore, to meet the growing demand for public transportation in various countries, the government authorities are focusing on expanding light rail infrastructure such as metro trains and are also expanding rail network to connect hitherto unconnected population centers. Such large scale investments on the expansion of railway networks is likely to create new growth opportunities for the track geometry measurement system market.
However, the track geometry measurement system is subjected to high initial cost and lack of suitable infrastructure for the installation of the system, which is expected to hamper the growth of the track geometry measurement system market over the forecast period.
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Track Geometry Measurement System Market: Segmentation:
Track geometry measurement system market can be segmented into measurement type, operation type, railway type and region.
On the basis of measurement type, global track geometry measurement system market is segmented into:
Gauge
Vertical Profile
Twist
Others (Dipped Joints, Alignment etc.)
On the basis of operation type, global track geometry measurement system market is segmented into:
Contact
No-Contact
Chord-Based
Inertial-Based
On the basis of railway type, global track geometry measurement system market is segmented into:
High Speed Rail
Heavy Haul Rail
Mass Transit Rail
Light Rail
Track Geometry Measurement System Market: Regional Outlook:
The Asia Pacific region is expected to be a highly lucrative region for the track geometry measurement system market owing to significant rail network expansion in the region. Countries like, China, India, and Japan etc. have a large conventional rail tracks.
According to the International Energy Agency, India account for about 39% of global passenger movements on conventional rail, followed by China 27% and Japan 11%. These countries are expected to significantly drive the Asia Pacific track geometry measurement system market over the forecast period. Furthermore, Europe is also expected to have significant growth in the track geometry measurement system market owing to the presence of the world’s second largest conventional rail track network in the region.
North America region has a large conventional rail track network, which spanned 612,000 km in 2016. The rising regulatory safety requirements in the rail transportation sector is expected to significantly boost the growth of track geometry measurement system market in the region. Middle East & Africa and Latin America regions are expected to register modest growth in the track geometry measurement system market over the forecast period.
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Track Geometry Measurement System Market: Market Participants:
Some of the market participants in the global track geometry measurement system market are:
ENSCO, Inc.
MERMEC Inc.
Fugro
Balfour Beatty Rail Limited
BENTLEY SYSTEMS, INCORPORATED
Siemens (MRX Technologies)
S.I.M. Srl
ZG Optique SA
DMA
Egis
Goldschmidt Thermit Group
Bance & Co Ltd.
Plasser & Theurer
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