Railway maintenance machinery refers to equipment used to maintain, repair and monitor railway tracks.
SHERIDAN, WYOMING, USA, Nov. 18, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report titled “Railway Maintenance Machinery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which includes information on the Railway Maintenance Machinery market research report. The report also includes competitor and regional analysis, as well as contemporary advancements in the global market. The global railway maintenance machinery market reached a value of US$4.25 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$6.30 billion by 2027, posting a CAGR of 6.42% in 2022-2027.
Railway maintenance machinery represents the equipment used to monitor and repair damage on railway tracks. They are mainly used to inspect, repair and maintain railway tracks to ensure smooth operation and improved operational life of railway tracks. Some of the commonly available railway maintenance machines include tampers, ballast adjusters, dynamic track stabilizers, ballast cleaners, counter cutters, etc. They are widely used for mechanical maintenance of vertical and horizontal alignment of railway tracks. These devices find many applications in ballasted and non-ballasted tracks to lift the sleeper and pack the ballast to prevent abrasion, deformation, geometry change, damage to various components, etc.
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As the novel coronavirus (COVID-19) crisis engulfs the world, we are continuously monitoring changes in markets, as well as consumer buying behaviors around the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic.
Continuous improvement of railway infrastructure is among the key factors driving the railway maintenance machinery market. Apart from this, increasing investments by government agencies across the countries in renovating existing railways to provide safe, secure and efficient travel experience for individuals are acting as significant growth factors. Furthermore, increasing incidents of rail accidents and train derailments and growing use of periodic maintenance activities that help prevent such incidents and minimize loss of life and property are also driving the growth of the market . In addition to this, the widespread adoption of electric trains instead of fuel-powered trains and the growing environmental awareness of consumers are also positively influencing the global market. Additionally, numerous technological advancements such as increasing integration of connected devices with Internet of Things (IoT) and Artificial Intelligence (AI) solutions are expected to fuel the railway maintenance machinery market during the forecast period.
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Competitive landscape with key players:
The report has also analyzed the competitive landscape of the market with some of the key players.
• American Equipment Company Inc.
• China Railway Construction Corporation Limited
• Geatech Group srl
• Harsco Corporation
• Loram Maintenance of Way Inc.
• MATISA Industrial Materials SA
• Plasser and Theurer
• Speno International SA
• Teräspyörä-Steelwheel Oy
Railway Maintenance Machinery Market Segmentation:
Our report has categorized the market based on region, product type, application, and sales type.
Breakdown by product type:
• Tamping machine
• Stabilization machines
• Railway handling machinery
• Ballast cleaning machines
Breakdown by application:
• Ballast track
• Track without ballast
Breakdown by type of sale:
• New sales
• Secondary market
Breakdown by region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
Main highlights of the report:
• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s five forces analysis
• Market drivers and success factors
• SWOT analysis
• Value chain
• Complete mapping of the competitive landscape
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