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Railway Maintenance Machinery Market Anticipated to Reach $5,521.9 Million by 2027

08-24-2021 04:30 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Railway Maintenance Machinery Market

Railway Maintenance Machinery Market

Railway maintenance is a process of preserving the working condition of railway track. Tamping machine, tampers, ballast regulators, dynamic track stabilizers, ballast cleaners, and ballast under cutters are some of the machineries used in railway maintenance applications. Maintenance is very important in every industry for smooth and effective functioning.

The global railway maintenance machinery market size was valued at $3.74 billion in 2019, and is projected to reach $5.52 billion by 2027, registering a CAGR of 7.2% from 2020 to 2027.

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An increase in construction of new rail projects fuels the railway maintenance machinery market growth. For instance, Iraq government spent around $2.5 billion on new railway project named as Baghdad Metro. The railway project will be completed by 2025. In addition, rise in number of railway electrification projects owing to reduced carbon emission is anticipated to drive the market growth.

Covid-19 Impact Analysis

COVID-19 is a disease caused by a newly discovered virus named Coronavirus. Many people are suffering from Coronavirus disease throughout the globe. During lockdown, due to COVID-19 pandemics, various major players in the global railway maintenance machinery market to stop their business production due to lock down implemented in countries such as the U.S., China, Brazil, and others.

Key Market Players

China Railway Construction Corporation Limited (CRCC High- Tech Equipment Co. Ltd)
China State Railway Group Co Ltd. (Gemac Engineering Machinery Co Ltd)
System 7- Railsupport GmbH
Harsco Corporation
MER MEC s.p.A.
Geatech Group s.r.l.
Plasser & Theurer
Export von Bahnbaumaschinen
Gesellschaft m.b.H.
Sinara-Transport Machines Holding
Fluor Corporation (American Equipment Company, Inc)
Coril Holdings Ltd (Loram Maintenance of Way, Inc).

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Key Market Segments

By Product Type

Tamping Machine
Stabilizing Machinery
Rail Handling Machinery
Ballast Cleaning Machine
Others

By Application

Ballast Track
Non-ballast Track

By Sales Type

New Sales
Aftermarket Sales

By Region

North America
Europe
Asia-Pacific
LAMEA

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Contact:
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help@alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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