Railway Maintenance Machinery Market size to grow by USD 2.56 billion | Market Insights highlight Drivers, Vendor performance and Geographic Analysis | Technavio
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Vendor Insights
Global railway maintenance machinery market is fragmented and the vendors are deploying various organic and inorganic strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as electrification and remote monitoring of trains and infrastructure to improve the business opportunities and focusing on fast-growing segments. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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Geographical Market Analysis
Europe will provide maximum growth opportunities in the railway maintenance machinery market during the forecast period. According to our research report, the region will contribute to 44% of the global market growth and is expected to dominate the market through 2025. Europe will generate growth across all the years of the forecast period between 2021 and 2025. The year-on-year growth during this period will vary between 5.75% and 10.32%.
The UK, Germany, and France are the major markets for railway maintenance machinery in Europe. The availability of a large number of railway routes in the region is boosting the railway maintenance machinery market in the region. In addition, the European countries are estimated to witness a growth in rail passenger transport during the forecast period.
On the other hand, governments in developing countries are undertaking initiatives to encourage environmental concerns and switch the railways services towards electrification.
Key Segment Analysis
Track motor vehicles is one of the prominent sections of the global railway maintenance machinery market for the past few years. These are equipment are used for track maintenance because even a small disruption in the railway track can lead to hindering the railway services or the work progression on the work sites.
These types of track maintenance works are used for various maintenance activities such as removing obstacles and cleaning vegetations in the track and area of clearance gauge, fixing minor damages to the fasteners.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/railway-maintenance-machinery-market-industry-analysis
Key Market Drivers & Challenges:
The rise in the number of railway electrification projects is one of the key drivers for the railway maintenance machinery market share growth. Electronic trains are considered economically more viable and sustainable than fuel-powered engines. Moreover, governments of various countries are planning to boost the electrification as there is a significant reduction in the emission while transit compared to the diesel engines while faster acceleration and deceleration. Therefore, the massive surge in electrification and upgradation projects in the railways services is estimated to elevate the global railway maintenance machinery market during the forecast period.
The increased cost of equipment and availability of refurbished products is a key challenge for the global railway maintenance machinery market growth. There are multiple types of railway maintenance machines tamping machines, rail handling machines and stabilizing machines. Each of the machines has different price variants depending on their usage and efficiency. Therefore, the preferences of most of the countries towards manual inspection and maintenance of railway networks is expected to hamper the railway maintenance machinery market during the forecast period.
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Railway Maintenance Machinery Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 9% |
Market growth 2021-2025 | $ 2.56 billion |
Market structure | Fragmented |
YoY growth (%) | 5.80 |
Regional analysis | Europe, North America, APAC, South America, and MEA |
Performing market contribution | Europe at 44% |
Key consumer countries | UK, US, Germany, France, China, and India |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Alamo Group Inc., American Equipment Co., China Railway Construction Corp. Ltd., GEATECH Group Srl, Harsco Corp., Loram Maintenance of Way Inc., Plasser and Theurer Export von Bahnbaumaschinen GmbH, ROBEL Bahnbaumaschinen GmbH, Speno International SA, and Strukton Groep NV |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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