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Railway Maintenance Machinery Market

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

✷  Report Code: A08139
Pages: 240
Aug 2022 | 5953 Views
Author(s) : Ajitesh G , Onkar S
Tables: 137
Charts: 56
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Railway Maintenance Machinery Market Research, 2031

The global railway maintenance machinery market size was valued at $3,945.2 million in 2021, and is projected to reach $7,613.8 million by 2031, growing at a CAGR of 6.6% from 2022 to 2031. Railway maintenance is a process of preserving the working condition of railway tracks. Tamping machine, tampers, ballast regulators, dynamic track stabilizers, ballast cleaners, and ballast under cutters are some of the machineries used in railway maintenance applications. Maintenance is important in every industry for smooth and effective functioning.

The railway maintenance machinery market was hampered during the outbreak of COVID pandemic as transportation and logistic services were halted and therefore the maintenance of tracks was reduced. Moreover, the new sales and aftermarket sales of railway maintenance machinery was also declined during the period.

Exponential population growth coupled with rapid urbanization has resulted in increase in traffic congestion on roads. As a result, transportation of goods by road from one place to another has become difficult as their delivery is delayed.  Hence, railways serve as a better, cheaper, and safer mode of transport. Moreover, rise in government investment on railway infrastructure development in the emerging economies, such as India and Brazil, fuels the railway maintenance machinery market growth.

Railway-Maintenance-Machinery-Market,-2021-2030

In addition, various countries across the globe are continuously spending on expanding railway lines for providing better logistics and transportation performance. In January 2020, the Canadian Government planned to invest $2.92 billion on expanding railway infrastructure projects. Moreover, surge in demand for secure, safe, and efficient transportation railway systems is likely to develop the market growth. Furthermore, rise in road accidents leads to adoption of railway system to reduce the transportation through roads, which is expected to provide growth for the railway maintenance machinery market share. For instance, according to the World Health Organization (WHO), around 1.25 million deaths are registered every year due to road accidents. In addition, for most of the countries, road traffic crashes cost around 3% of their GDP. Hence, railways are considered a better option for secure, safe, and efficient transportation systems which is anticipated to drive the market growth.

Railway Maintenance Machinery Market
By Product Type

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Tamping machine segment held the largest share in the railway maintenance machinery market

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During the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. This led to decline in manufacturing of various equipment used for railway maintenance machinery as well as their demand in the market, thereby restraining the growth of the railway maintenance machinery industry. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of railway maintenance machinery companies at their full-scale capacities that helped manufacturing of new railway maintenance machines, which further helped the railway maintenance machinery market to recover by end of 2021.

Railway Maintenance Machinery Market
By Application

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Ballast track segment held the largest share in the railway maintenance machinery market

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Moreover, upsurge in adoption of internet of things (IoT) technology in railway maintenance industry due to features associated with systems such as scalability, availability for 24/7, and cloud-based systems drives the growth of the railway maintenance machinery market. However, railway maintenance machines are heavy machines coupled with high costs, which may hinder the development of the market in some developing countries and in economies with poor economic background. Conversely, technological advancements in the railway maintenance machinery is anticipated to provide lucrative opportunities for market growth.

Railway Maintenance Machinery Market
By Sales Type

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Aftermarket sales segment held the largest share in the railway maintenance machinery market

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The railway maintenance machinery market is segmented into product type, application, sales type and region. According to product type, the market is fragmented into tamping machine, stabilizing machinery, rail handling machinery, ballast cleaning machine, and others. As per application, the global 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 market has been analyzed across North America (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).

On the basis of product type, in 2021, the tamping machine segment dominated the market in terms of revenue. However, the others segment is expected to witness growth at the highest CAGR during the forecast period. As per application, in 2021, the ballast track segment led the railway maintenance machinery market, and the non-ballast track is expected to exhibit highest CAGR in the near future. By sales type, the aftermarket sales segment led the market in 2021, in terms of revenue and is anticipated to register highest CAGR during the forecast period. Region wise, Europe garnered the highest revenue in 2021; however, LAMEA is anticipated to register highest CAGR during the forecast period.

Railway Maintenance Machinery Market
By Region

2031
Europe 
North America
Asia-Pacific
LAMEA

Europe region held the largest share in the railway maintenance machinery market

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COMPETITION ANALYSIS

The major players profiled in the railway maintenance machinery market report include China Railway Construction Corporation Limited (CRCC High-Tech Equipment Corporation Limited.), CRRC Corporation Limited, System7 Rail Holding GmbH, Harsco Corporation, MER MEC S.p.A., Geatech Group Srl, Plasser & Theurer, Export von Bahnbaumaschinen, Gesellschaft m.b.H., SinaraTransport Vehicles, Fluor Corporation (American Equipment Company, Inc.), and Coril Holdings Ltd. (Loram Maintenance of Way, Inc.). Major companies in the market have adopted product launch, partnership, business expansion, and acquisition as their key developmental strategies to offer better products and services to customers in the market.

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 to identify the prevailing railway maintenance machinery market forecast.
  • 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 opportunity.
  • 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.

Railway Maintenance Machinery Market Report Highlights

Aspects Details
Product Type
  • Tamping machine
  • Stabilizing machinery
  • Rail handling machinery
  • Ballast cleaning machine
  • Others
Application
  • Ballast track
  • Non-ballast Track
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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The railway maintenance machinery is used for smooth and effective operation of railway tracks. Tamping machine, stabilizing machinery, and rail handling machinery are some of the railway maintenance machineries used in the railway industry.

An increase in government spending on new railway construction projects is anticipated to drive the growth of the railway maintenance machinery market. For instance, the German government plans to spend $125 billion on expanding railway infrastructure by 2030. In addition, rise in number of railway electrification projects globally is expected to boost the growth of the market. During 2015 to 2020, total 204 railway projects consisting of 30,490 RKM (rail KM) have been sanctioned by the Indian government for reducing carbon emission.

Major players are adopting agreements and product launches as key developmental strategies to improve their product portfolio, and thereby drive the growth of the market. For instance, in March 2020, Harsco Corporation signed a 3-year agreement with Network Rail, the largest infrastructure manager of railway network in the UK. The $25 million agreement aimed to provide mobile maintenance train services and improve the strategic relationship with infrastructure companies in the UK.

Moreover, rise in adoption of internet of things (IoT), cloud-based system, and internet systems in railway maintenance machinery owing to features such as continuous support, high-speed services, and scalability fuels the growth of the railway maintenance machinery market. By using IoT in railway maintenance machinery, it improves the maintenance services of the track system.

Machines used for maintenance of railway systems are getting technologically advanced. However, implementation of these systems could be expensive for railway departments of some countries owing to the use of advanced technology. Conversely, technological innovation in railway maintenance machinery is expected to provide lucrative opportunities for the railway maintenance machinery manufacturers.

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FREQUENTLY ASKED QUESTIONS?

A. 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.

A. The forecast period considered for the global railway maintenance machinery market is 2022 to 2031, wherein, 2021 is the base year, 2022 is the estimated year, and 2031 is the forecast year.

A. Latest version of global railway maintenance machinery market report can be obtained on demand from the website.

A. The base year considered in the global railway maintenance machinery market report is 2021.

A. The top companies holding the market share in the global 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.).

A. The top ten market players are selected based on two key attributes - competitive strength and market positioning

A. The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.

A. By product type, the tamping machine segment is the highest share holder of railway maintenance machinery market.

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