Track Geometry Measurement System Market - Increasing Need For Security And Safety In Railway Transportation

Track geometry measurement system is essential parameter of track condition. Track geometry measurement system is used to measure the condition of a railway track in order to avoid any detrimental effects on passengers and freight. The track geometry measurement system (TGMS) provides precise and reliable track data for short-term as well as long-term maintenance scheduling in order to avoid any harmful effects. The inertial-based track geometry measurement system is gaining popularity currently. The inertial-based track geometry measurement system is a compact and lightweight system and provides accurate evaluation of rail track geometry in various operational conditions. The rapid adoption of inertial based rail track geometry measurement systems is boosting the growth of track geometry measurement system.

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Increasing need for security and safety in railway transportation and the rise in railway networks and metro lines are some factors that are responsible for the significant growth of the global track geometry measurement system market. Numerous mishaps and accidents involving trains have raised concerns worldwide and are prompting governments to digitize the mode of transport in order to ensure a safer journey. Increasing demand for smart technologies in order to maintain operational efficiency of tracks is driving the global track geometry measurement system market. Rapid progress in high speed railways is expected to boost the global track geometry measurement system market. High speed railways are considered a safe mode of transportation. High speed railway projects have been progressing rapidly, thereby creating an opportunity for the track geometry measurement market, worldwide. However, slow infrastructure growth in developing regions is likely to hinder the expansion of the market.

The global track geometry measurement system market can be categorized based on operation type, measurement type, railway type, component, and geography. Based on operation type, the track geometry measurement market can be segmented into contact-based and no contact-based system. In terms of measurement type, the track geometry measurement market can be segmented into twist, track gauge, curvature, vertical profile, dipped joints, and other. The gauge segment is expected to expand significantly during the forecast period, as it decides which rolling stock is compatible with a particular track gauge in order to avoid derailment. Based on railway type, the track geometry measurement system can be segmented into high speed railways, heavy haul railways, light railways, and mass transit railways. The high speed railways segment is anticipated to fuel the track geometry measurement systems during the forecast period due to the rapid increase in high speed railway projects.

Additionally, in terms of component, the track geometry measurement system can be segmented into sensor, data storage, camera, power supply equipment, and other. Based on geography, the global track geometry measurement system can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The market in Asia Pacific is estimated to expand rapidly during the forecast period due to the various railway developments in the countries such as China, Australia and India. Rapid expansion in metro rails in various countries such as India and Australia is fueling the track geometry measurement market in the region. The North America track geometry measurement market is also anticipated to expand significantly during the forecast period due to the growing economies. Emerging regions such as Middle East & Africa and South America are also projected to expand at a significant pace during the forecast period.

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The global track geometry measurement system market includes various players. Some of the key players are MER MEC S.p.A., Ensco Inc., MRX Technologies, Plasser & Theurer, R. Bance & Co. Ltd., Bentley Systems Inc., Goldschmidt Thermit Group, Balfour Beatty, Fugro, and EGIS.

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