Press release
Railway Maintenance Machinery Market is Projected to Grow at a Rate of 6.8% from 2022 to 2031, the Rise in Implementation of Internet of Things (IoT) Technology | Coril Holdings, CRRC, Fluor Corporation, Geatech S.r.l.
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.
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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. As per World Health Organization (WHO), approximately 1.25 million deaths are recorded per year due to road accidents. Further, road traffic crashes cost nearly 3% of their gross domestic product (GDP) globally.
Further, the rise in implementation of Internet of Things (IoT) technology in the railway maintenance machinery industry, owing to features such as scalability and cloud-based systems, fuels the expansion of the railway maintenance machinery market. Moreover, technological progressions in the railway maintenance machinery are expected to offer lucrative opportunities for railway maintenance machinery industry market players.
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Market Segments
By Product Type
Tamping Machine
Stabilizing Machinery
Ballast Cleaning Machine
Others
By Application
Ballast Track
Non-ballast Track
By Business Type
New Sales
Aftermarket Sales
By Region
North America
The U.S.
Canada
Mexico
Europe
The UK
Germany
France
Spain
Rest of Europe
The Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Latin America
The Middle East
Africa
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Major Players of the Global Railway Maintenance Machinery Market
The global railway maintenance machinery market report includes players such as Angelo Holding S.r.l. (MER MEC S.p.A.), China Railway Construction Corporation Limited (CRCC High-Tech Equipment Corporation Limited), Coril Holdings (LORAM), CRRC, Fluor Corporation (American Equipment Company), Geatech S.r.l., Harsco Corporation, Plasser & Theurer, Robel Bahnbaumaschinen GmbH, Sinara Transport Vehicles, and System7 Rail Holding GmbH.
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