Dublin, May 25, 2023 (GLOBE NEWSWIRE) — The “Track Geometry Measurement System Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global track geometry measurement system market 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 track geometry measurement system market is expected to grow to $4.16 billion in 2027 at a CAGR of 6.0%.
Major players in the track geometry measurement system market are Ensco Inc., Fugro, MER MEC S.p.A., lasser & Theurer, MRX Technologies, R. Bance & Co. Ltd., Bentley Systems Inc., Goldschmidt Thermit Group, Siemens, Vista Instrumentation LLC, Holland LP, GRAW, Jiangxi Everbright, South Survey, and R.Bance and Co. Ltd.
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The track geometry measurement system (TGMS) is a crucial technology in the rail sector for evaluating track safety and maintenance schedule. It delivers precise and dependable track data for both short-term and long-term maintenance planning.
The main types of track geometry measurement systems are gauge, twist, and vertical profile. A gauge refers to a measuring instrument for measuring and indicating a quantity such as the thickness of wire or the amount of rain, etc. The products involved are track geometry trolleys, track geometry inspection vehicles (TGIV), and autonomous track geometry measurement systems (ATGMs) which are used for high-speed railways, heavy haul railways, light railways and mass transit railways applications.
Technological advancements have emerged as the key trend gaining popularity in the track geometry measurement systems market. Major companies operating in the track geometry measurement systems market are developing innovative technologies to strengthen their position in the market.
Asia-Pacific was the largest region in the track geometry measurement system market in 2022. Europe was the second-largest region in the track geometry measurement system market. The regions covered in the track geometry measurement system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the track geometry measurement system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The rising network of metro and high-speed trains is expected to boost the growth of the track geometry measurement systems market going forward. 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.
For instance, as per the report published by the Australian Railway Association, an Australian-based railway association, in 2021-22, Australian railway building activity increased by 2.2% to $10.73 billion. Furthermore, in January 2023, as per the data published by China State Railway Group Co., Ltd., the railway corporation of China, in 2022, a total of 4,100 kilometers of new railway lines were put into service in China, including 2,082 kilometers of high-speed tracks. Therefore, the rising network of metro and high-speed trains is driving the growth of the track geometry measurement systems market.
The track geometry measurement system market consists of sales of lighting equipment, navigation equipment, communication equipment, data storage equipment, and power supply equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
|No. of Pages||250|
|Forecast Period||2023 – 2027|
|Estimated Market Value (USD) in 2023||$3.3 billion|
|Forecasted Market Value (USD) by 2027||$4.16 billion|
|Compound Annual Growth Rate||6.0%|
Key Topics Covered:
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
4.1. COVID-19 Impact On Track Geometry Measurement System Market
4.2. Ukraine-Russia War Impact On Track Geometry Measurement System Market
4.3. Impact Of High Inflation On Track Geometry Measurement System Market
5. Track Geometry Measurement System Market Size And Growth
5.1. Global Track Geometry Measurement System Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Track Geometry Measurement System Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Track Geometry Measurement System Market Segmentation
6.1. Global Track Geometry Measurement System Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Vertical Profile
6.2. Global Track Geometry Measurement System Market, Segmentation By Product Types, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Track Geometry Trolley
- Track Geometry Inspection Vehicle (TGIV)
- Autonomous Track Geometry Measurement System (ATGMS)
6.3. Global Track Geometry Measurement System Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- High Speed Railways
- Heavy Haul Railways
- Light Railways
- Mass Transit Railways
7. Track Geometry Measurement System Market Regional And Country Analysis
7.1. Global Track Geometry Measurement System Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Track Geometry Measurement System Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/ifb0oo
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