Railway Maintenance Machinery Market: North America held 42% in 2022, Ballast tracks segment to grow at the highest rate - Technavio

NEW YORK, Nov. 29, 2022 /PRNewswire/ -- The railway maintenance machinery market size is estimated to grow by USD 1,442.03 million. The growth momentum of the market will accelerate at a CAGR of 6.4% during the forecast period, according to Technavio. North America held 42% of the global railway maintenance machinery market growth in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. The need for carrying out upgrades and maintenance work on the existing railway networks will facilitate the railway maintenance machinery market growth in North America over the forecast period.

Technavio has announced its latest market research report titled Global Railway Maintenance Machinery Market 2023-2027
Technavio has announced its latest market research report titled Global Railway Maintenance Machinery Market 2023-2027

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Railway Maintenance Machinery Market: Segmentation analysis

Technavio has segmented the railway maintenance machinery market based on application (ballast track and non-ballast track), product (work vehicles and small equipment), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The report provides a comprehensive analysis on growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market.

  • The ballast track segment will grow at the highest rate during the forecast period. Ballast tracks are the traditional type of railway tracks. They are generally composed of railway fasteners, steel rails, ballast beds, and railroad ties. Railway maintenance machinery helps in monitoring and maintaining ballast tracks and improving operational safety. It is used to carry out necessary tasks such as tamping and cleaning the ballast, removing and inserting ties, tightening rail bolts, excavating and replacing worn ballast, and aligning the ballast tracks.

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Key factors driving market growth

  • The increasing number of railway electrification projects is driving the global railway maintenance machinery market growth.

  • The number of railway electrification projects has increased, as electric trains are more economically viable and sustainable than fuel-powered trains.

  • Moreover, electric engines enable a significant reduction in emissions and faster acceleration and deceleration of engines compared with diesel engines.

  • In addition, governments of various countries are planning to increase the electrification of railways during the forecast period, with the rising environmental concerns and regulations.

Leading trends influencing the market

  • The IoT-based remote monitoring of trains and tracks is a key trend in the market.

  • The adoption of the Internet and IoT helps in increasing the operational efficiency of business processes.

  • The components of a railway network should be managed effectively. This can be managed efficiently by adopting IoT technologies along with analytics.

  • The applications of railway maintenance processes are estimated to increase for business process optimization.

  • Such factors will support the growth of the market during the forecast period.

Drivers and trends are the factors of market dynamics that state about consequences and sustainability of businesses. Find insights from a free sample report!

Competitive analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. Buy the Report

What are the key data covered in this railway maintenance machinery market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the railway maintenance machinery market between 2023 and 2027

  • Precise estimation of the size of the railway maintenance machinery market size and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the railway maintenance machinery market across APAC, North America, Europe, Middle East and Africa, and South America

  • Thorough analysis of the market's competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of railway maintenance machinery market vendors

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Railway Maintenance Machinery Market Scope

Report Coverage

Details

Page number

120

Base year

2022

Historical year

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.4%

Market growth 2023-2027

USD 1,442.03 million

Market structure

Fragmented

YoY growth (%)

5.5

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

North America at 42%

Key consumer countries

US, China, UK, Germany, and France

Competitive landscape

Leading companies, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Companies profiled

Alamo Group Inc., American Equipment Co., BBM Railway Equipment LLC, China Railway Construction Corp. Ltd., CRRC Corp. Ltd., Dipsa Technes Srl, GEATECH Group Srl, Harsco Corp., Jinzhou Tiegong Railway Maintenance Machinery Co. Ltd., Loram Maintenance of Way Inc., MATISA MATERIEL INDUSTRIEL SA, Pandrol SAS, Plasser & Theurer, Export von Bahnbaumaschinen GmbH, ROBEL Bahnbaumaschinen GmbH, Siemens AG, Sinara Transport Machines Holding, Speno International SA, Strukton Groep NV, Teraspyora Steelwheel Oy, and United Industrial Pty Ltd.

Market Dynamics

Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

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Table of Content

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2022

  • 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

  • 4.1 Global railway maintenance machinery market 2017 - 2021

  • 4.2 By Product Segment Analysis 2017 - 2021

  • 4.3 By Application Segment Analysis 2017 - 2021

  • 4.4 Geography Segment Analysis 2017 - 2021

  • 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

  • 5.1 Five forces summary

  • 5.2 Bargaining power of buyers

  • 5.3 Bargaining power of suppliers

  • 5.4 Threat of new entrants

  • 5.5 Threat of substitutes

  • 5.6 Threat of rivalry

  • 5.7 Market condition

6 Market Segmentation by Application

  • 6.1 Market segments

  • 6.2 Comparison by Application

  • 6.3 Ballast track - Market size and forecast 2022-2027

  • 6.4 Non-ballast track - Market size and forecast 2022-2027

  • 6.5 Market opportunity by Application

7 Market Segmentation by Product

  • 7.1 Market segments

  • 7.2 Comparison by Product

  • 7.3 Work vehicles - Market size and forecast 2022-2027

  • 7.4 Small equipment - Market size and forecast 2022-2027

  • 7.5 Market opportunity by Product

8 Customer Landscape

  • 8.1 Customer landscape overview

9 Geographic Landscape

  • 9.1 Geographic segmentation

  • 9.2 Geographic comparison

  • 9.3 Europe - Market size and forecast 2022-2027

  • 9.4 North America - Market size and forecast 2022-2027

  • 9.5 APAC - Market size and forecast 2022-2027

  • 9.6 South America - Market size and forecast 2022-2027

  • 9.7 Middle East and Africa - Market size and forecast 2022-2027

  • 9.8 US - Market size and forecast 2022-2027

  • 9.9 UK - Market size and forecast 2022-2027

  • 9.10 China - Market size and forecast 2022-2027

  • 9.11 Germany - Market size and forecast 2022-2027

  • 9.12 France - Market size and forecast 2022-2027

  • 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers

  • 10.2 Market challenges

  • 10.3 Impact of drivers and challenges

  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview

  • 11.2 Vendor landscape

  • 11.3 Landscape disruption

  • 11.4 Industry risks

12 Vendor Analysis

  • 12.1 Vendors covered

  • 12.2 Market positioning of vendors

  • 12.3 Alamo Group Inc.

  • 12.4 American Equipment Co.

  • 12.5 BBM Railway equipment LLC

  • 12.6 China Railway Construction Corp. Ltd.

  • 12.7 CRRC Corp. Ltd.

  • 12.8 Dipsa Technes Srl

  • 12.9 GEATECH Group Srl

  • 12.10 Harsco Corp.

  • 12.11 Jinzhou Tiegong Railway Maintenance Machinery Co. Ltd.

  • 12.12 Loram Maintenance of Way Inc.

  • 12.13 MATISA MATERIEL INDUSTRIEL SA

  • 12.14 Pandrol SAS

  • 12.15 Plasser and Theurer Export von Bahnbaumaschinen GmbH

  • 12.16 ROBEL Bahnbaumaschinen GmbH

  • 12.17 Sinara Transport Machines Holding

13 Appendix

  • 13.1 Scope of the report

  • 13.2 Inclusions and exclusions checklist

  • 13.3 Currency conversion rates for US$

  • 13.4 Research methodology

  • 13.5 List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Email: media@technavio.com
Website: www.technavio.com/

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