Market Insight-Global Track Geometry Measurement Systems Market Overview 2023
The Global Track Geometry Measurement System market size is projected to reach US$ 676.05 Million by 2029 from US$ 523.88 million in 2022 at a CAGR of 3.65% during 2023-2029. – Bossonresearch.com
Track geometry is one of crucial track condition parameters, closely related to many other degradation phenomena, and as it is often used for triggering the whole range of track M&R activities. Track Geometry Measurement System, is used during new railway construction and used in track geometry based risk and maintenance management for revenue track lines. Major criterions of a track geometry measurement system is measuring: -Track gauge -Track cant -Transition curve and superelevation ramp -Horizontal curve radius -Vertical curve radius and gradient Other criterions also may include: twist, dynamic cross-level, etc. This report mainly covers Track Geometry Measurement Systems, by Measurement Type (Track Geometry Trolley, Track Geometry Inspection Vehicle (TGIV), Autonomous Track Geometry Measurement System (ATGMS)); By Railway Type (High-Speed Railways, Mass Transit Railways, Heavy Haul Railways, and Light Railways).
Figure Global Track Geometry Measurement Systems Market Size
Source: Bossonresearch.com, 2022
According to Bosson Research, the global Track Geometry Measurement System market size is projected to reach US$ 676.05 Million by 2029 from US$ 523.88 million in 2022 at a CAGR of 3.65% during 2023-2029.Mainly due to its efficiency in improving the security of railroad systems and the need for track maintenance increases, track geometry measurement systems are increasingly used in railway industry. Plus, expanding rail networks are expected to drive up the demand for track geometry measurement systems. Especially in many developing countries, the construction of tracks and the improvement of related infrastructure provide a broader market for these systems. The adoption of intelligent approaches in railways is also propelling the growth of the track geometry measurement systems market.
In addition, the increasing demand for asset management and predictive maintenance in the railway industry has led to the increasing use of track geometry measurement systems with other railway infrastructure monitoring systems such as condition monitoring systems, axle counting systems, and train control systems. At the same time, the development of advanced technologies such as laser scanning, GPS, and remote sensing has made the orbital geometry measurement system more accurate and efficient.
However, the market also faces some challenges. First, the market is expected to be restrained by a lack of required infrastructure and insufficient related facilities to use these systems since they are important parts of these systems. Second, different laws and regulations and privatization levels in different nations can have a negative impact on the development of the track geometry measurement systems. Third, the operation, maintenance, and data interpretation of the system can be complex. This challenge can lead to delays in system implementation and technical problems with data analysis and interpretation.
COVID-19 has also had a negative impact on this market. The pandemic has disrupted global supply chains, and the price of raw materials has been more volatile, which has increased the cost of production and threatened profit margins. The pandemic has also led to a slowdown in infrastructure construction in some countries, which is not conducive to the expansion of the systems market.
Segment by Type, the Track Geometry Measurement Systems market can be split into Track Geometry Trolley, Track Geometry Inspection Vehicle (TGIV), ATGMS, etc. In 2022, the market share of Track Geometry Trolley is significantly higher than other kinds, at 71.18%. And the market share of Track Geometry Inspection Vehicle (TGIV) and ATGMS are just 16.01% and 12.81% respectively in 2022. It is predicted that the market share of Track Geometry Trolley will slightly decrease to 70.01% in 2023. In the forecast period of 2024-2029, the market size of Track Geometry Inspection Vehicle (TGIV), ATGMS will continue to grow while Track Geometry Trolley is expected to experience a decrease.
From the perspective of application scenarios, the Track Geometry Measurement Systems market can be divided into High-Speed Railway, Heavy Haul Railway, Conventional Railway, Urban Transport. The Conventional Railway segment currently occupies a dominant position in the entire market, and has already occupied a 46.93% market share in 2022. This segment will grow at a CAGR of 2.47% during 2023 to 2029.
On the basis of geography, the Track Geometry Measurement Systems market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia-Pacific region dominates and will continue to lead the market share, currently accounting for 33.56% in 2022. The second largest market share is North America, with a market share of 26.26% in 2022.
Driving Factors
Growing Need to Improve Rail Safety
The railway is one of the most important modes of transportation of goods and passengers in the world. All the industries emphasize the need to ensure the safety of rail transportation. Additionally, Numerous train-related incidents and tragedies have raised worries around the world and prompted governments to digitize the method of transportation to guarantee a safer ride. As a result, many governmental agencies are spending more money on improving the security of railroad systems. Track geometry measurement systems can be used to measure and assess track, which can prevent derailments of tracks. It mainly focuses on the qualities and interactions of lines, curves, surfaces, and points in a railroad track's three-dimensional (3D) location. In addition, track design, building, and maintenance measurements are also referred to as track geometry.
Due to the growing demand for efficient and safe track management systems, there is increasing adoption of geometry measurement systems. It is expected to drive the market demand.
Importance in Practical Application
The vibrations of high-speed trains can greatly affect the geometry of the track. As a result, the need for track maintenance increases, further creating the need for track geometry measurement systems. More and more old railway tracks need to be maintained with this system to ensure traffic safety. As one of the most crucial techniques in the railway industry for evaluating track maintenance scheduling and safety, track geometry measurement systems is increasingly used mainly because of the important role it can play. The importance in practical application of this system is an important factor driving its market expansion.
Expanding Rail Networks
The number of railways and other rail transit is a fundamental factor in determining the demand for the track geometry measurement systems. Many government departments are focusing on building light rail infrastructure such as metros, as well as expanding rail networks to connect previously unconnected population centers to meet the growing demand for public transportation in many countries. Especially in many developing countries, the construction of tracks and the improvement of related infrastructure provide a broader market for this system. These factors create profit potential for the overall expansion of the geometry measurement systems market.
Increasing Focus on Predictive Maintenance
Predictive maintenance involves the use of data and analytics to predict equipment failures before they occur, allowing maintenance to be scheduled before failures occur. This approach helps minimize downtime and reduce maintenance costs. The increasing demand for asset management and predictive maintenance in the railway industry has led to the integration of track geometry measurement systems with other railway infrastructure monitoring systems such as condition monitoring systems, axle counting systems, and train control systems. This integration has led to the development of advanced railway asset management systems that enable real-time monitoring and predictive maintenance of rail infrastructure.
That trend is expected to drive the growth of the TGMS market in the future. Track geometry measurement systems can provide the data needed for predictive maintenance, which has led to rail operators increasingly adopting these systems to improve maintenance practices and reduce downtime.
Global Track Geometry Measurement Systems Market: Competitive Landscape
In 2022, according to our calculations, the two indicators used to measure market concentration, CR5 and HHI, 39.28% and 3.31% respectively. This shows that the market is currently concentrated. The key players in the market include Amberg Technologies, Trimble Railway GmbH, ENSCO, Plasser & Theurer, MERMEC, Holland LP, Harsco Rail, Fugro, Southsurvey, Jiangxi Everbright, GRAW, KZV, MRX Technologies, Tetra Tech Inc., Rail Vision, R.Bance & Co Ltd, ESIM, DMA,etc.
Key players in the Track Geometry Measurement Systems Market include:
Amberg Technologies
Trimble Railway GmbH
ENSCO
Plasser & Theurer
MERMEC
Holland LP
Harsco Rail
Fugro
Southsurvey
Jiangxi Everbright
GRAW
MRX Technologies
Tetra Tech Inc.
Rail Vision
KZV
R.Bance & Co Ltd
ESIM
DMA
Request for more information
Click to view the full report TOC, figure and tables: https://bossonresearch.com/productinfo/2046694.html?templateId=494129
About US:
Bosson Research (BSR) is a leading market research and consulting company, provides market intelligence, advisory service and market research reports for the automobile, electronics and semiconductor, and consumer good industry. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Bosson Research provides one-stop solution right from data collection to investment advice. The analysts at Bosson Research (BSR) dig out factors that help clients understand the significance and impact of market dynamics. Bosson Research (BSR) bring together the deepest intelligence across the widest set of capital-intensive industries and markets. By connecting data across variables, our analysts and industry specialists present our customers with a richer, highly integrated view of their world.
Contact US:
Tel: +86 400-166-9288
E-mail: sales@bossonresearch.com
