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