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Track Geometry Measurement System Market Analysis 2023: Market Growth, Size, Share And Future Market Forecast 2032 | Ensco Inc., Fugro, MER MEC S.p.A., lasser & Theurer, MRX Technologies
Track Geometry Measurement System Market
The Business Research Company's Track Geometry Measurement System Global Market Report 2023 identifies rising network of metro and high-speed trains as the major driver for the Track Geometry Measurement System market's growth in the forecast period. High-speed rail refers to passenger rail networks that operate at speeds ranging from 200 to 300 km/h and, in certain cases, higher. The track geometry measurement systems are used on high-speed railways to help monitor track quality and guarantee that the tracks are safe for the posted speed by measuring track conditions regularly.
The global track geometry measurement system market size is expected to grow from $3.10 billion in 2022 to $3.30 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global track geometry measurement system market is expected to grow to $4.16 billion in 2027 at a CAGR of 6.0%.
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Major competitors in the Track Geometry Measurement System market are Ensco Inc., Fugro, MER MEC S.p.A., lasser & Theurer, MRX Technologies.
A key trend in the Track Geometry Measurement System market includes technological advancement. Major companies operating in the track geometry measurement systems market are developing innovative technologies to strengthen their position in the market. For instance, in March 2020, Norfolk Southern, a US-based transport company launched a breakthrough autonomous track geometry measurement system. The unique features of this track inspection technology involve a reliable and cost-effective method for continuously monitoring track performance in near real-time. The track inspection technology is designed to enhance railway safety and operating efficiencies.
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The Track Geometry Measurement System market is segmented -
1. By Type: Gauge, Twist, Vertical Profile
2. By Product Types: Track Geometry Trolley, Track Geometry Inspection Vehicle (TGIV), Autonomous Track Geometry Measurement System (ATGMS)
3. By Application: High Speed Railways, Heavy Haul Railways, Light Railways, Mass Transit Railways
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Track Geometry Measurement System market.
The Business Research Company's "Global Track Geometry Measurement System Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Track Geometry Measurement System Market Include:
1. Executive Summary
2. Track Geometry Measurement System Market Characteristics
3. Track Geometry Measurement System Market Trends And Strategies
4. Track Geometry Measurement System Market - Macro Economic Scenario
5. Track Geometry Measurement System Market Size And Growth
……
26. Africa Track Geometry Measurement System Market
27. Track Geometry Measurement System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Track Geometry Measurement System Market
29. Track Geometry Measurement System Market Future Outlook and Potential Analysis
30. Appendix
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