Railway maintenance machinery market growing at a cagr of 5.5% & projected to reach $7.2 billion by 2032

According to a new report published by Allied Market Research, titled, "Railway Maintenance Machinery Market," The railway maintenance machinery market size was at $4 billion in 2021, and is estimated to reach $7.2 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032.

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Table of content

Chapter 1 : introduction
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

Chapter 2 : executive summary
Chapter 3 : market overview
Chapter 4 : railway maintenance machinery market, by product type
Chapter 5 : railway maintenance machinery market, by application
Chapter 6 : railway maintenance machinery market, by sales type
Chapter 7 : railway maintenance machinery market, by region
Chapter 8 : competitive landscape
Chapter 9 : company profiles
List of tables
List of figures

A variety of specialized tools and automobiles intended for the building, upkeep, and restoration of railway infrastructure are referred to as railway maintenance machinery. In order to guarantee the safe and effective operation of rail tracks, signaling systems, overhead lines, and other railway network components, it comprises a variety of devices and equipment. Catenary systems, switches, bridges, tunnels, railway tracks, and other infrastructure components are all inspected, maintained, and repaired using railway maintenance equipment.

The Railway Maintenance Machine­ry Market includes various type­s of equipment, including tamping machines, stabilizing machine­ry, rail handling machinery, ballast cleaning machines, cate­nary maintenance machines, and othe­rs.

According to a March 2023 agreement be­tween India and the Japan Inte­rnational Cooperation Agency (JICA), the Mumbai-Ahme­dabad High-Speed Rail (MAHSR), also known as the bulle­t train project, will be constructed using a $2.2 billion Official De­velopment Assistance (ODA) loan. The introduction of bulle­t trains is expected to bring about advance­ments in rail infrastructure, particularly in areas like­ signaling, track monitoring, and maintenance procedure­s. These advanceme­nts will result in state-of-the-art mainte­nance equipment that utilize­s automation, robotics, and digitalization to enhance the pre­cision and efficiency of maintenance­ tasks. Consequently, the e­xpansion of the railway maintenance machinery industry has been fue­led by a rise in global railway ele­ctrification projects.

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The Railway Maintenance machinery market is divided into ballast track and non-ballast track. In 2022, the ballast track segment dominated the railway maintenance machinery market, in terms of revenue, and non-ballast is expected to witness growth at a higher CAGR during the forecast period. Ballast tracks are designed to be resilient and absorb the impact and vibrations caused by moving trains. The ballast layer acts as a cushioning material, reducing the stress and strain on the tracks. It helps distribute the dynamic loads and vibrations caused by trains, minimizing the transfer of these forces to the underlying subgrade. This not only improves the overall ride quality for passengers and reduces track wear and tear, but also extends the lifespan of the tracks.

Moreover, the railway maintenance machinery market forecast indicates promising growth in the coming years, fueled by ongoing advancements in railway technology and the continuous efforts by governments to enhance rail infrastructure and maintenance capabilities. The replacement and upgrade cycles create a continuous demand for railway maintenance machinery. For instance, in April 2023, Harsco Rail which is a U.S. based leading manufacturer of railway machineries and a division of Harsco Corporation announced a five-year operation & maintenance contract with Network Rail and this contract is valued at over $130 million.

Increase in construction of new rail projects positively impacts the growth of the railway maintenance machinery market. For instance, the Iraqi government spent around $2.5 billion on a new railway project named as Baghdad Metro. The railway project is expected to be completed by 2025. In addition, a rise in the number of railway electrification projects, owing to carbon emission reduction targets, is anticipated to lead to the expansion of the railway maintenance machinery market. Railway maintenance machinery market growth is being driven by the rising global investments in rail infrastructure development, leading to a higher demand for modern and efficient maintenance equipment and technologies.

The Railway Maintenance Machinery Market is divided between new sales and aftermarket sales. The aftermarket segment dominated the railway maintenance machinery market share in terms of revenue in 2022 and is anticipated to register a higher growth rate throughout the forecast period. The availability of aftermarket services and spare parts allows customers to extend the lifespan of their railway maintenance machinery. By replacing worn-out components, conducting regular maintenance, and addressing issues promptly, customers can optimize the performance and longevity of their equipment. This not only benefits the customers but also enhances the reputation of the machinery manufacturer or supplier.

Increasing market competition among manufacturers and suppliers of railway maintenance machinery stimulates innovation and product development. Companies strive to introduce advanced and more efficient machinery to meet the evolving needs of rail operators, leading to market growth. A growing usage of cloud-based, internet, and internet of things (IoT) services to increase operational efficiency of the entire maintenance process is expected to lead to the development of the railway maintenance machinery industry. In addition, one of the most important aspects of adopting IoT is preventive maintenance in railway machinery. In addition, the railway maintenance machinery market share is dominated by key players who offer advanced and innovative maintenance equipment and services, contributing to their significant market presence.

Europe accounted for the highest market share in 2022 and LAMEA is expect to dominate the railway maintenance machinery market forecast by growing with the highest CAGR. Europe has one of the most extensive railway networks globally, covering numerous countries and connecting major cities and regions. In addition, the railway maintenance machinery market growth is expected to surge as countries prioritize the expansion and improvement of their rail networks to meet growing transportation demands. The extensive infrastructure requires regular maintenance and upkeep, leading to a higher demand for railway maintenance machinery eventually positively the railway maintenance machinery market overview.

However, high costs associated with tamping machines are anticipated to hamper the growth of the railway maintenance machinery market. However, technological innovation in the railway maintenance machinery is expected to offer remunerative opportunities for the railway maintenance machinery manufacturers.

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Key Market Players
Fluor Corporation (American Equipment Company), MER MEC S.p.A., Geatech Group s.r.l., Plasser & Theurer, Harsco Corporation, System7 Rail Holding GmbH, CRRC Corporation Limited, Sinara Transport Machines Holding, Loram Maintenance of Way, Inc., China Railway Construction Corporation Limited (CRCC High- Tech Equipment Co. Ltd)

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About Allied Market Research:

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 domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the report

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