Track Geometry Measurement System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Track Geometry Measurement System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Report Digest
Track Geometry Measurement System Market – Introduction
Penetration of technology into the railway industry has unlocked novel avenues for the advancements of the railway network. Track geometry measurement system is one such technology that associates the track geometry systems with rail profiles to obtain the measurements of both using just one instrument. Witnessing the high adoption rate, manufacturers of TGMS have been enhancing the accuracy and longevity of these systems in addition to reducing their size to offer the ease of installation, which is estimated to further boost the sales of these systems.
With the rising concerns apropos of the rail hazards, there has been a notable demand for efficient systems that can ensure the maintenance of railway tracks, which has been fulfilled by TGMS. However, lack of proper infrastructure for the installation of track geometry measurement system market could act as a deterrent. Analyzing the drivers, challenges, opportunities, and threats, the track geometry measurement system market is estimated to be valued at over USD 3 Bn in 2019.
Track Geometry Measurement System Market – Novel Developments
- In February 2019, Balfour Beatty announced that Transport of London has appointed it to develop and deliver 1,047 kilometer London Underground network. The authority will invest critical assets to achieve the completion of a robust underground transportation network. Alongside, Balfour Beatty will introduce new standards and technologies to ensure the safe delivery of the network that is devoid of any disruption to the travelling public.
- In May 2018, Network Rail awarded Balfour Beatty a 5-year - Reactive Building and Civil Contract. According to the contract, the company will be in charge of executing rail infrastructure repairs from London-Penzance, along with the Great Western route. The contract will help the company offer better and reliable journeys to travelers with the utmost safety.
- In November 2017, ENSCO Rail was awarded a Canadian Pacific contract, as per which the company will offer robust inspection systems for the evaluation car. Such cars will be the newest addition to the CP fleet and it will be well-armed with nascent track geometry measurement and imaging system technology.
Some of the most prominent competitors operating in the competitive landscape of global track geometry measurement system market include –
- MER MEC S.p.A.
- EGIS
- Fugro
- Balfour Beatty
- Goldschmidt Thermit Group
- Bentley Systems Inc.
- Plasser & Theurer
- MRX Technologies
- R. Bance & Co. Ltd.
- Ensco Inc.
- Siemens
- Rail Vision Europe
- Amberg Technologies
- ZG Optique
- Vista Instrumentation LLC
- Kžv
- Spol.
- Sro
- Trimble
- Harsco Corporation
- Deutzer Technische Kohle
- DMA
- Holland LP
Track Geometry Measurement System Market – Dynamics
Compliance to Numerous Standards Set by Government to Reflect on the Market Size
Rising concerns pertaining to the security of railways and technological advancements in the very arena of the railway industry, government of numerous countries have enforced laws and regulations that indicate the need to comply with the standards set by the government. As a result, the players operating in the market have been devising innovation to meet the requirement of the end-use industry as well as comply with the standard guidelines, thereby enhancing the desirability of these systems, which is anticipated to bode well for the growth of the track geometry measurement system market in the upcoming years.
Undergoing Metro Projects in Developing Countries to Keep the Demand for TGMS Consistent
One of the significant reasons fueling the growth of the track geometry measurement systems market is the rising demand for metro networks in developing countries. With multiple undergoing metro projects, there has been a significant surge in the demand for track geometry measurement systems for the development of strong railway network, which is expected to fuel the growth of the track geometry measurement systems market.
Asia Pacific to Remain a Leading Track Geometry Measurement System Market
Asia Pacific holds promising growth prospects for the track geometry measurement system market, on account of the advancements in the mass transit systems and high-speed rails in countries such as India and China. Among the other countries located in APAC, China is expected to account for a significant share of track geometry measurement system market, which is attributed to the development of a streamlined transportation network.
Japan as well contributes to the incessantly growing Asia Pacific track geometry measurement market with the constant development of high-speed railway network. Demand for track geometry measurement system is expected to witness an uptick in India, owing to a number of metro rail projects happening in this region. As a result of the massive contribution of regional markets, Asia Pacific is anticipated to remain a leading track geometry measurement system market in the forthcoming years.
Track Geometry Measurement Systems Market - Segmentation
The track geometry measurement systems market can be fragmented on the basis of:
- Measurement Type
- Operation Type
- Railway Type
- Component
Track Geometry Measurement Systems Market Segmentation - By Measurement Type
Depending on the measurement type, the track geometry measurement systems market can be divided on the basis of:
- Gauge
- Twist
- Cant and Cant Deficiency
- Vertical Profile
- Curvature
- Alignment
- Dynamic Cross-level
- Dipped Joints
- Others
Track Geometry Measurement System Market Segmentation – By Operation Type
Based on the operation type, the track geometry measurement system market can be classified into:
- No Contact
- Inertial Based
- Chord Based
- Contact
Track Geometry Measurement System Market Segmentation – By Railway Type
On the basis of railway type, the track geometry measurement systems market can be fragmented into:
- High-speed Railways
- Mass Transit Railways
- Heavy Haul Railways
- Light Railways
Track Geometry Measurement System Market Segmentation – By Component
Depending on the component, the track geometry measurement systems can be bifurcated into:
- Software
- Lighting Equipment
- Navigation Equipment
- Communication Equipment
- Computer
- Camera
- Data Storage
- Power Supply Equipment
- Sensor
- Accelerometer
- Gyroscope
This study provides a particularized anatomy according to the L.E.A.P mechanism
- Latest trends and cardinal growth prospects
- Existing and future insights in growth
- Ascensions in technology
- Pain points
The regional analysis offers market assays across:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
Pain Points
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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