Press release
Global Railway Maintenance Machinery Market worth $7.5 billion by 2031 | MER MEC S.p.A. China Railway, Construction Corporation Limited, Coril Holdings Ltd. (LORAM)
Global Railway Maintenance Machinery Market
Read more about Global Railway Maintenance Machinery Market here: https://www.globalinsightservices.com/reports/railway-maintenance-machinery-market/
The global railway maintenance machinery market size was $3.9 billion in 2021 and is anticipated to reach $7.5 billion in 2031, growing at a rate of 6.8% from 2022 to 2031.
Railway maintenance is a process of preserving the working condition of railway tracks. Tamping machines, tampers, ballast regulators, dynamic track stabilizers, ballast cleaners, and ballast undercutters are some of the types of machinery used in railway maintenance applications. Maintenance of railway machines is important for smooth and effective functioning.
Global Railway Maintenance Machinery Market Trends & Drivers:
Growth in government spending on railway infrastructure development in developing nations such as India, Africa, Brazil, and others drives the global railway maintenance machinery market growth. Moreover, the rise in population growth in couple with rapid urbanization has led to growth in traffic congestion on roads and conveyance of goods from one place to another. Therefore, railways serve as an effective, low-priced, and better mode of transport. Besides, several nations globally are incessantly spending on developing railway lines. For instance, in 2020, the government of Canada planned to invest nearly $3 billion in escalating railway infrastructure projects. Further, an upsurge in demand for safe, secure, as well as effective railway systems supplements the global railway maintenance machinery market growth. Moreover, an increase in road accidents worldwide is anticipated to cater to the development of the global railway maintenance machinery market.
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Market Segments:
By Product Type
Tamping Machine
Stabilizing Machinery
Ballast Cleaning Machine
By Application
Ballast Track
Non-ballast Track
By Business Type
New Sales
Aftermarket Sales
Key Players:
MER MEC S.p.A.
China Railway Construction Corporation Limited
Coril Holdings Ltd. (LORAM)
Fluor Corporation (American Equipment Company)
Geatech S.r.l.
Harsco Corporation
Plasser & Theurer
Robel Bahnbaumaschinen GmbH
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