Railway Maintenance Machinery Market By Product Type (Tamping machine, Stabilizing machinery, Rail handling machinery, Ballast cleaning machine, Others), By Application (Ballast track, Non-ballast Track), By Sales Type (New sales, Aftermarket sales): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global railway maintenance machinery market was valued at $3,945.2 million in 2021, and is projected to reach $7,613.8 million by 2031, registering a CAGR of 6.6% from 2022 to 2031. Railway maintenance machinery consists of vehicles and machines, such as tamping machine and stabilizing machines, that are used to maintain railway tracks. These machineries are used in applications such as weld shear, rail drill, rail saw, and clipping machines. In addition, they are used for maintenance of railway tracks so that there is efficient and smooth operation of railway transport.
Increase in number of railway electrification projects globally fuels the growth of the railway maintenance machinery market. Electric trains are more eco-friendly as compared to fuel-powered trains. Hence, this leads to growth in demand for the railway maintenance services. In addition, governments of different countries are approving hybrid tamping machines for maintaining operations of railway tracks. For instance, in 2020, Germany’s Federal Railway Authority (EBA) approved Unimat 09-32/4S Dynamic E3 hybrid tamping machine for railway track operations in Kreuznach (Germany) and Bern (Switzerland).
Growth in number of railway construction projects leads to expansion of the railway maintenance machinery market. In addition, rise in government spending on building new railway projects is anticipated to provide a boost to this market. For instance, the Indian government plans to spend $704.16 million on railway projects till 2023.
Rise in adoption of internet of things (IoT) and cloud-based system in railway maintenance operations, owing to features such as scalability, high speed, continuous support, and IT security services, is expected to drive the growth of the railway maintenance machinery market.
However, high costs associated with railway maintenance machineries is likely to hamper the development of the market. Conversely, technological integration in the railway maintenance machinery is anticipated to provide lucrative opportunities for the growth of the market.
The global railway maintenance machinery market is segmented on the basis of product type, application, sales type, and region. According to product type, the railway maintenance machinery market is fragmented into tamping machine, stabilizing machinery, rail handling machinery, and ballast cleaning machine.
On the basis of application, the global railway maintenance machinery market is categorized into ballast track and non-ballast track. Depending on sales type, the market is divided into new sales and aftermarket sales. Region wise, the railway maintenance machinery market has been analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, 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 major players profiled in the railway maintenance machinery market report include China Railway Construction Corporation Limited (CRCC High-Tech Equipment Co. Ltd.), China State Railway Group Co. Ltd. (Gemac Engineering Machinery Co. Ltd.), System 7 Railholding GmbH, Harsco Corporation, MER MEC s.p.A., Geatech Group Srl, Plasser & Theurer, Export von Bahnbaumaschinen, Gesellschaft m.b.H., Sinara-Transport Vehicles, Fluor Corporation (American Equipment Company, Inc.), and Coril Holdings Ltd. (Loram Maintenance of Way, Inc.).
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the railway maintenance machinery market analysis from 2021 to 2031 to identify the prevailing railway maintenance machinery market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the railway maintenance machinery market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global railway maintenance machinery market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
Tamping machine
Stabilizing machinery
Rail handling machinery
Ballast cleaning machine
Others
By Application
Ballast track
Non-ballast Track
By Sales Type
New sales
Aftermarket sales
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia Pacific
LAMEA
Middle East
Africa
Latin America
Key Market Players
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
Harsco Corporation
MER MEC s.p.A.
Geatech Group s.r.l.
PLASSER & THEURER
Sinara Transport Machines Holding
Fluor Corporation
CORIL HOLDINGS LTD
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