DUBLIN, August 04, 2021--(BUSINESS WIRE)--The "Railway Maintenance Machinery Market by Product Type, Application and Sales Type: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global railway maintenance machinery market size was valued at $3,7.39.2 million in 2019 and is projected to reach $5,521.9 million by 2027, registering a CAGR of 7.2% from 2020 to 2027.
Railway maintenance machinery consists of vehicles and machines such as tamping machine, stabilizing machines, and others that are used to maintain railway tracks. These machineries are used in applications such as weld shear, rail drill, rail saw, clipping machines, and others. In addition, they are used for maintenance of railway tracks so that efficient and smooth operation of railways takes place.
An increase in the number of railway electrification projects globally, fuels the growth of the railway maintenance machinery market. Electric trains are more ecological when compared to fuel-powered trains. Hence, rise in number of railway electrification projects fuels the growth of the railway maintenance machinery market. In addition, governments of different countries are approving hybrid tamping machine for maintaining operations of railway tracks. For instance, in 2020, Germany's Federal Railway Authority (EBA) approved the tamping machine Unimat 09-32/4S Dynamic E3 hybrid tamping machines for railway track operations in Kreuznach (Germany) and Bern (Switzerland).
Growth in number of railway construction projects fuels the growth of the railway maintenance machinery market. In addition, rise in government spending on building new railway projects is anticipated to drive the growth of the railway maintenance machinery market. For instance, the Indian government plans to spend $704.16 million on railway projects till 2023. In addition, rise in adoption of internet of things (IoT) and cloud-based system in railway maintenance operations owing to its features such as scalability, high speed, continuous support, and IT security services drives the growth of the railway maintenance machinery market.
However, high cost associated with railway maintenance machineries is anticipated to hamper the growth of the railway maintenance machinery market. Conversely, technological integration in the railway maintenance machinery is anticipated to provide lucrative opportunities for the growth of the railway maintenance machinery market.
The global railway maintenance machinery market is segmented on the basis of product type, application, sales type, and region. Based on product type, the railway maintenance machinery market is fragmented into tamping machine, stabilizing machinery, rail handling machinery, ballast cleaning machine, and others. Based on application, the global railway maintenance machinery market is categorized into ballast track, and non-ballast track. Based on sales type, the market is divided into new sales, and aftermarket sales. By region, the railway maintenance machinery market has been analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The report provides an extensive analysis of the current and emerging railway maintenance machinery market trends and dynamics.
In-depth market analysis is conducted by railway maintenance machinery market estimations for the key segments between 2019 and 2027.
Extensive analysis of the railway maintenance machinery market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global railway maintenance machinery market forecast analysis from 2020 to 2027 is included in the report.
The key market players within the railway maintenance machinery market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the railway maintenance machinery market.
Growing Government Spending on Construction of Railway Projects
Increasing Number of Railway Electrification Projects
Benefits Associated with Railway Maintenance Machinery
A Dearth of Skilled Staff and Lack of Reimbursement in Developing Countries
High Cost of Machine
China Railway Construction Corporation Limited (CRCC High- Tech Equipment Co. Ltd)
China State Railway Group Co Ltd. (Gemac Engineering Machinery Co Ltd)
System 7- Railsupport GmbH
MER MEC s.p.A.
Geatech Group s.r.l.
Plasser & Theurer, Export von Bahnbaumaschinen Gesellschaft m.b.H.
Sinara-Transport Machines Holding
Fluor Corporation (American Equipment Company, Inc.)
Coril Holdings Ltd (Loram Maintenance of Way, Inc.)
ROBEL Bahnbaumaschinen GmbH
Speno International SA
K and G Machinery Pty Ltd
Amberg Group AG (Amberg Technologies AG)
For more information about this report visit https://www.researchandmarkets.com/r/7iurh0
View source version on businesswire.com: https://www.businesswire.com/news/home/20210804005538/en/
Laura Wood, Senior Press Manager
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