The global track geometry measurement system market size was valued at US$ 1.94 Bn in 2017 and is expected to reach US$ 3.54 Bn by 2026 to exhibit a CAGR of 7.82 % during the forecast period.
global track geometry measurement system market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global track geometry measurement system market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global track geometry measurement system market.
Track geometry measurement system is an important parameter of track condition. TTGMS is used to measure the circumstance of a railway track in order to avoid any harmful effects on passengers and freight. The TGMS offers precise and reliable track data for short-term as well as long-term conservation scheduling in order to avoid any dangerous effects.
The increasing need for security and safety in railway transportation, the rise in railway networks and metro lines, growing use of track geometry measurement systems for track maintenance are main factors that are responsible for the substantial growth of the global track geometry measurement system market. Also, the growing demand for smart technologies to maintain operational efficiency of tracks, fast development in high-speed railways is pouring the global track geometry measurement system market.
However, slow infrastructure growth in developing regions is likely to hamper the development of the track geometry measurement system market. The major challenge faced by the growth of this market is data protection and management. Several opportunities are projected to create in the global track geometry measurement system market because of growing demand for track geometry measurement systems from developing economies and expansion of high-speed railway network in the US.
The high-speed railway line network provides many advantages like time-saving, energy saving, and low greenhouse gas emission compared with other modes of transportation. These factors also lead to large funding from the government for the expansion of the high-speed railway network. Also, track geometry measurement systems are essential during the construction and maintenance of tracks for high-speed railway systems, this factor is positively crushing the growth of TGMS market. Owing to these factors high-speed railways is anticipated to witness the maximum growth during the forecast period.
Now the inertial-based TGMS is gaining popularity because this system is a compact and lightweight system and offers an accurate evaluation of rail track geometry in several operational conditions. The fast adoption of inertial based rail track geometry measurement systems is enhancing the growth of no contact TGMS in the global track geometry measurement system market.
Corresponding the regional market analysis the Asia Pacific market is expected to witness the highest growth during the forecast period. The Asia Pacific is witnessing significant growth, which can be attributed to different railway developments in the various countries like China, Australia and India and fast growth in metro rails in different countries is powering the track geometry measurement market in the region. Further Europe is expected to hold the second-largest share of the TGMS market through the forecast period owing to high-speed railways and mass transport railways are the main applications of TGMS in this region. Also, North America TGMS is also projected to increase significantly in the coming years due to the rising economies.
Scope of the Global Track Geometry Measurement System (TGMS) Market
Global Track Geometry Measurement System (TGMS) Market, by Measurement Type
• Vertical Profile
• Dipped Joints
• Dynamic Cross-Level
• Others (Curvature, Cant and Cant Deficiency)
Global Track Geometry Measurement System (TGMS) Market, by Operation Type
• No Contact
o Inertial Based
o Chord Based
Global Track Geometry Measurement System (TGMS) Market, by Railway Type
• High-Speed Railways
• Mass Transit Railways
• Heavy Haul Railways
• Light Railways
Global Track Geometry Measurement System (TGMS) Market, by Component
• Lighting Equipment
• Navigation Equipment
• Communication Equipment
• Data Storage
• Power Supply Equipment
• Others (Computer, Camera, Sensor)
Global Track Geometry Measurement System (TGMS) Market, by Region
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Track Geometry Measurement System (TGMS) Market
• MER MEC
• Balfour Beatty
• Plasser & Theurer
• R. Bance & Co.
• Bentley Systems
• Goldschmidt Thermit Group
• Deutzer Technische Kohle
• KZV, Spol. Sro
• Vista Instrumentation
• ZG Optique
• Harsco Corporation
• Amberg Technologies
• Rail Vision Europe
• Holland LP