Track Geometry Measurement System Market is Anticipated to Show the Robust Growth During 2017 - 2025
The prosperity of the global track geometry measurement system market is owing to several factors, such as increasing need for safety and security in railway transport, growing railway networks and metro lines, and deployment of intelligent techniques in railways. On the other hand, slow infrastructure growth in a number of emerging economies is hindering the market from attaining its full potential. Nevertheless, the stockholders connected to the value chain of the track geometry measurement system market will gain new opportunities from the growing requirement from public and private partnerships (PPP) and diversification of services and solutions offered by these measurement systems.
Based on operation-type, the global market for track geometry measurement system can be segmented into contact based and no contact based, while on the basis of measurement-type, this market can be categorized into cant and cant deficiency, track gauge, twist, curvature, vertical profile, alignment, dipped joints, dynamic cross-level, and others such as inclination and cyclic top. High-speed railways, heavy haul railways, light railways, and mass transit railways can be some of the categories of the global track geometry measurement system, whereas component-wise bifurcation of the market can be software, navigation equipment, lighting equipment, computer, communication equipment, camera, data storage, sensor, and power supply equipment. Geographically, this report takes stock of the potential of the track geometry measurement system market in all important regions such as North America, Europe, Asia Pacific, and the Middle East and Africa.
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The report is a comprehensive representation of the current scenario of the market for track geometry measurement system and provides analysis as well as forecasts on its future prospects.
Global Track Geometry Measurement System Market: Overview
The global track geometry measurement system market is projected to exhibit a positive CAGR between 2017 and 2025. The market will benefit from the increase demand for improved security in railway transport and the growling metro lines and railway networks. Besides this, the deployment of cost-effective and smart technologies in railway drive will give the global track geometry measurement system market significant impetus during the forecast period.
The report studies growth exhibited by the tract geometry measurement system market based on various parameters such as railway type, measurement type, operation type, component, and region. It covers various aspects such as growth drivers, key restraints, opportunities, and challenges that companies are likely to witness. The profiles of some of the most prominent enterprises operating in global market are included as well.
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The report is therefore compiled with the intent of presenting a comprehensive overview of the global track geometry measurement system market. It gauges the impact of Porter’s five forces on the overall market and analyzes the investment feasibility for new players. Exhaustive information included in the report is obtained from trusted industrial sources via proven research methodologies. It is aimed at helping readers gain a clearer perspective about the prevailing dynamics and trajectory of the global track geometry measurement system market.
Global Track Geometry Measurement System Market: Trends and Opportunities
The rising demand for improved safety in railway transport is the chief driver of the market. The recent incidents of train mishaps have raised concerns worldwide compelling governments to digitize the mode of transport to ensure safer journey. The demand for cost-effective yet smart technologies for maintaining tracks and ensuring operational safety is therefore at all-time high. This however can be achieved through calculating the geometry parameters in real-time. Track geometry measurement systems assist in maintenance works conducted to detect any track irregularities, which is a key factor enabling the market gain impetus.
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While these factors will support the market’s expansion, slow infrastructure growth will restraint it to an extent. Furthermore, data management and control is a sensitive concern for the track geometry measurement systems market. It is therefore very important to ensure protection of data generated via diverse measuring devices. This is a key challenge posing threat to the market as well.
Global Track Geometry Measurement System Market: Regional Outlook
North America, Europe, and Asia Pacific are among the key regional markets for track geometry measurement system. Among these regions, the market is witnessing highly lucrative opportunities in Asia Pacific. The rising demand for track geometry measurement system in China, which as of 2016 had the longest high-speed railway network in the world, is supporting growth witnessed in the region.
Besides this, the market is also gaining from the rapid expansion of metro networks in countries such as Australia and India. Growth in railway networks also fuels the demand for advanced maintenance to ensure risk-free travel to the passengers. Since, railway networks constitute the key transport across emerging Asian economies, the region exhibits a considerably high demand for track geometry measurement system.
Global Track Geometry Measurement System Market: Vendor Landscape
Some of the most prominent enterprises operating in the global track geometry measurement system market are Ensco, Inc., MER MEC S.p.A., Fugro, Balfour Beatty, Plasser & Theurer, Egis, MRX Technologies, R. Bance & Co., Ltd. Inc., and Goldschmidt Thermit Group.
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