Track Laying Equipment Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Track Laying Equipment Market
The track laying equipment market size was valued at USD 540.9 million in 2023, and the market is now projected to grow from USD 559.9 million in 2024 to USD 828.6 million by 2032, exhibiting a CAGR of 5.8% during the forecast period of 2024-2032.
Pandemic has substantially impacted the track laying equipment market growth due to travel restrictions, delivery chain disruptions, and decreased global alternate. The marketplace has also been negatively impacted, with reduced demand and manufacturing disruptions. Major manufacturers like BEML India and Matisa have skilled a drop in net sales. However, as governments relax rules and allow extra mobility, the industry is anticipated to recover speedy, with fast stimulus programs and infrastructure development projects predicted to boost marketplace boom.
The marketplace is experiencing boom because of rising population growth, urbanization, and digitalization. This necessitates electrification of railway projects, upgrading present traces, constructing new ones, modernizing stations, and making an investment in superior technology. The demand for brand spanking new railways, in particular in China and India, is using marketplace enlargement. Infrastructure owners and railway businesses are also shopping new track machines to improve operations.
Major players like Plasser and Theurer, Techne Kirow GmbH, Matisa, Geismar, and BEML India are introducing advanced music laying machines for the marketplace. Original Equipment Manufacturers (OEMs) are also adopting new song maintenance merchandise. Chengdu Aigre Mechano-Electronic Equipment Co Ltd. Delivered a 500-meter lengthy ballast music laying device in August 2021, powered through Internet of and Al technology. Indian Railways secured an agreement in February 2020 for superior laying gadget for Dedicated Freight Corridor tasks, supplying high accuracy and excessive-pace operations. The global marketplace is likewise witnessing the growing adoption of synthetic intelligence, automation, design, and machine learning, which are anticipated to stay a fashion all through the forecast duration.
Comprehensive Analysis of Track Laying Equipment Market
The market for new construction equipment is expected to grow significantly due to urbanization, modernization, and government investments in electrification and connectivity. The renewal equipment segment is expected to grow moderately due to the demand for machines to replace damaged or old tracks, as well as the growing demand for safe railway systems. The market is divided into heavy rail and urban rail, with heavy rail dominating due to the demand for high-speed, heavier structures and energy-efficient networks. Track laying equipment is used in heavy rail for the construction and maintenance of railway tracks for freight and passenger trains. Urban rail is expected to grow stablely due to global urbanization and the expansion of railway infrastructure in urban areas. The focus on railway projects drives market growth.
The Asia Pacific region lead the track laying equipment market share by benefitting a market size of USD 184.8 billion in 2023 due to rapid urbanization and the need for ecofriendly transportation. The enlargement of excessive-speed rail, metro systems, and freight railways in Asia Pacific nations, mainly in China and Japan, has elevated call for advanced song laying operations. The Indian government's funding in railway projects in Haryana in 2022 further fuels this demand. The boom inside the automobile area additionally contributes to the demand for song laying device.
Key players like Plasser and Theurer, CRRC Corporation Ltd, and Geismar are specializing in product development, acquisition, and launch to enhance their product portfolio and improve delivery chains. In 2021, Plasser American released a fully mechanized song-laying gadget for railway line production and modernization. This method is driving market increase. Key groups predicted encompass Plasser and Theurer, Techne Kirow GmbH, Weihua, Matisa, CRRC Corporation Limited, Geismar, Salcef, Enviri, BEML India, and Vossloh AG.
Alstrom launched a new music laying gadget in October 2021 for the construction of a 46-kilometer single-track metro line in Paris, requiring an investment of USD 153.5 million.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 5.8% from 2023 to 2030
Unit Value (USD Million)
Segmentation By Type
New Construction Equipment
Renewal Equipment
By Application
Heavy Rail
Urban Rail
By Region
North America (By Type, By Application, and By Country)
U.S. (By Type)
Canada (By Type)
Europe (By Type, By Application, and By Country)
Germany (By Type)
U.K. (By Type)
France (By Type)
Italy (By Type)
Rest of Europe
Asia Pacific (By Type, By Application, and By Country)
China (By Type)
Japan (By Type)
India (By Type)
South Korea (By Type)
Southeast Asia (By Type)
Rest of Asia Pacific
Middle East & Africa (By Type, By Application, and By Country)
GCC (By Type)
South Africa (By Type)
Rest of Middle East & Africa
Latin America (By Type, By Application, and By Country)
Brazil (By Type)
Mexico (By Type)
Argentina (By Type)
Rest of Latin America
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Track Laying Equipment Market Key Players Market Share/Ranking, 2022
- 5. Global Track Laying Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- 5.1. Key Findings
- 5.2. By Type (USD)
- 5.2.1. New Construction Equipment
- 5.2.2. Renewal Equipment
- 5.3. By Application (USD)
- 5.3.1. Heavy Rail
- 5.3.2. Urban Rail
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Middle East & Africa
- 5.4.5. Latin America
- 6. North America Track Laying Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- 6.1. Key Findings
- 6.2. By Type (USD)
- 6.2.1. New Construction Equipment
- 6.2.2. Renewal Equipment
- 6.3. By Application (USD)
- 6.3.1. Heavy Rail
- 6.3.2. Urban Rail
- 6.4. By Country (USD)
- 6.4.1. U.S.
- 6.4.1.1. By Type
- 6.4.1.1.1. New Construction Equipment
- 6.4.1.1.2. Renewal Equipment
- 6.4.2. Canada
- 6.4.2.1. By Type
- 6.4.2.1.1. New Construction Equipment
- 6.4.2.1.2. Renewal Equipment
- 7. Europe Track Laying Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- 7.1. Key Findings
- 7.2. By Type (USD)
- 7.2.1. New Construction Equipment
- 7.2.2. Renewal Equipment
- 7.3. By Application (USD)
- 7.3.1. Heavy Rail
- 7.3.2. Urban Rail
- 7.4. By Country (USD)
- 7.4.1. Germany
- 7.4.1.1. By Type
- 7.4.1.1.1. New Construction Equipment
- 7.4.1.1.2. Renewal Equipment
- 7.4.2. U.K.
- 7.4.2.1. By Type
- 7.4.2.1.1. New Construction Equipment
- 7.4.2.1.2. Renewal Equipment
- 7.4.3. France
- 7.4.3.1. By Type
- 7.4.3.1.1. New Construction Equipment
- 7.4.3.1.2. Renewal Equipment
- 7.4.4. Italy
- 7.4.4.1. By Type
- 7.4.4.1.1. New Construction Equipment
- 7.4.4.1.2. Renewal Equipment
- 7.4.5. Rest of Europe
- 8. Asia Pacific Track Laying Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- 8.1. Key Findings
- 8.2. By Type (USD)
- 8.2.1. New Construction Equipment
- 8.2.2. Renewal Equipment
- 8.3. By Application (USD)
- 8.3.1. Heavy Rail
- 8.3.2. Urban Rail
- 8.4. By Country (USD)
- 8.4.1. China
- 8.4.1.1. By Type
- 8.4.1.1.1. New Construction Equipment
- 8.4.1.1.2. Renewal Equipment
- 8.4.2. Japan
- 8.4.2.1. By Type
- 8.4.2.1.1. New Construction Equipment
- 8.4.2.1.2. Renewal Equipment
- 8.4.3. India
- 8.4.3.1. By Type
- 8.4.3.1.1. New Construction Equipment
- 8.4.3.1.2. Renewal Equipment
- 8.4.4. South Korea
- 8.4.4.1. By Type
- 8.4.4.1.1. New Construction Equipment
- 8.4.4.1.2. Renewal Equipment
- 8.4.5. Southeast Asia
- 8.4.5.1. By Type
- 8.4.5.1.1. New Construction Equipment
- 8.4.5.1.2. Renewal Equipment
- 8.4.6. Rest of Asia Pacific
- 9. Middle East & Africa Track Laying Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- 9.1. Key Findings
- 9.2. By Type (USD)
- 9.2.1. New Construction Equipment
- 9.2.2. Renewal Equipment
- 9.3. By Application (USD)
- 9.3.1. Heavy Rail
- 9.3.2. Urban Rail
- 9.4. By Country (USD)
- 9.4.1. GCC
- 9.4.1.1. By Type
- 9.4.1.1.1. New Construction Equipment
- 9.4.1.1.2. Renewal Equipment
- 9.4.2. South Africa
- 9.4.2.1. By Type
- 9.4.2.1.1. New Construction Equipment
- 9.4.2.1.2. Renewal Equipment
- 9.4.3. Rest of Middle East & Africa
- 10. Latin America Track Laying Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- 10.1. Key Findings
- 10.2. By Type (USD)
- 10.2.1. New Construction Equipment
- 10.2.2. Renewal Equipment
- 10.3. By Application (USD)
- 10.3.1. Heavy Rail
- 10.3.2. Urban Rail
- 10.4. By Country (USD)
- 10.4.1. Brazil
- 10.4.1.1. By Type
- 10.4.1.1.1. New Construction Equipment
- 10.4.1.1.2. Renewal Equipment
- 10.4.2. Mexico
- 10.4.2.1. By Type
- 10.4.2.1.1. New Construction Equipment
- 10.4.2.1.2. Renewal Equipment
- 10.4.3. Argentina
- 10.4.3.1. By Type
- 10.4.3.1.1. New Construction Equipment
- 10.4.3.1.2. Renewal Equipment
- 10.4.4. Rest of Latin America
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. BEML India
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. CRRC Corporation Limited
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Enviri (Harsco Corporation)
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Geismar
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Matisa
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Plasser and Theurer
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Salcef Group S.p.A.
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Techne Kirow GmbH
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Vossloh AG
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Weihua
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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