NEW YORK, Jan. 18, 2022 /PRNewswire/ -- According to the
research report "Railway Maintenance Machinery - Forecast and
Analysis Report 2021-2025," the market will witness a YOY
growth of 5.80% in 2021 while it witnesses a CAGR of 9% from 2020
to 2025. The report is segmented by products (work vehicles
and other small equipment), and geography (North America, Europe, APAC, South
America, and MEA).
Europe is the largest market
for railway maintenance machinery. Factors such as IoT-based remote
monitoring of trains and tracks are offering various growth
opportunities to the railway maintenance machinery market players
in the region. In addition, countries such as the UK, Germany and France have encouraged many railway
maintenance machinery vendors in the region to promote online
distance-learning degrees, further driving the market growth.
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additional highlights and key points on various market segments and
their impact in coming years.
Vendor Insights
Global railway maintenance machinery market is fragmented and
the vendors are deploying various organic and inorganic strategies
to compete in the market.
The growing competition in the market is compelling vendors to
adopt various growth strategies such as electrification and remote
monitoring of trains and infrastructure to improve the business
opportunities and focusing on fast-growing segments. Some vendors
are also adopting inorganic growth strategies such as M&As to
remain competitive in the market.
The report analyzes the market's competitive landscape and
offers information on several market vendors, including:
- Alamo Group Inc.
- American Equipment Co.
- China Railway Construction Corp. Ltd.
- GEATECH Group Srl
- Harsco Corp.
- Loram Maintenance of Way Inc.
- Plasser and Theurer Export von Bahnbaumaschinen GmbH
- ROBEL Bahnbaumaschinen GmbH
- Speno International SA
- Strukton Groep NV
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strategies adopted by vendors and their product
offerings, Read Free Sample
Report.
Geographical Market Analysis
Europe will provide maximum
growth opportunities in the railway maintenance machinery market
during the forecast period. According to our research report, the
region will contribute to 44% of the global market growth and is
expected to dominate the market through 2025. Europe will
generate growth across all the years of the forecast period between
2021 and 2025. The year-on-year growth during this period will vary
between 5.75% and 10.32%.
The UK, Germany, and
France are the major markets for
railway maintenance machinery in Europe. The availability of a large number of
railway routes in the region is boosting the railway maintenance
machinery market in the region. In addition, the European countries
are estimated to witness a growth in rail passenger transport
during the forecast period.
On the other hand, governments in developing countries are
undertaking initiatives to encourage environmental concerns and
switch the railways services towards electrification.
Key Segment Analysis
Track motor vehicles is one of the prominent sections of the
global railway maintenance machinery market for the past few years.
These are equipment are used for track maintenance because even a
small disruption in the railway track can lead to hindering the
railway services or the work progression on the work sites.
These types of track maintenance works are used for various
maintenance activities such as removing obstacles and cleaning
vegetations in the track and area of clearance gauge, fixing minor
damages to the fasteners.
Know more about this market's geographical
distribution along with the detailed analysis of the top
regions. https://www.technavio.com/report/railway-maintenance-machinery-market-industry-analysis
Key Market Drivers & Challenges:
The rise in the number of railway electrification projects is
one of the key drivers for the railway maintenance machinery market
share growth. Electronic trains are considered economically more
viable and sustainable than fuel-powered engines. Moreover,
governments of various countries are planning to boost the
electrification as there is a significant reduction in the emission
while transit compared to the diesel engines while faster
acceleration and deceleration. Therefore, the massive surge in
electrification and upgradation projects in the railways services
is estimated to elevate the global railway maintenance machinery
market during the forecast period.
The increased cost of equipment and availability of refurbished
products is a key challenge for the global railway maintenance
machinery market growth. There are multiple types of railway
maintenance machines tamping machines, rail handling machines and
stabilizing machines. Each of the machines has different price
variants depending on their usage and efficiency. Therefore, the
preferences of most of the countries towards manual inspection and
maintenance of railway networks is expected to hamper the railway
maintenance machinery market during the forecast period.
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highlights on market Drivers & Challenges affecting the railway
maintenance machinery market.
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Railway
Maintenance Machinery Market Scope
|
Report
Coverage
|
Details
|
Page
number
|
120
|
Base year
|
2020
|
Forecast
period
|
2021-2025
|
Growth momentum &
CAGR
|
Accelerate at a CAGR
of 9%
|
Market growth
2021-2025
|
$ 2.56
billion
|
Market
structure
|
Fragmented
|
YoY growth
(%)
|
5.80
|
Regional
analysis
|
Europe, North
America, APAC, South America, and MEA
|
Performing market
contribution
|
Europe at
44%
|
Key consumer
countries
|
UK, US, Germany,
France, China, and India
|
Competitive
landscape
|
Leading companies,
competitive strategies, consumer engagement scope
|
Companies
profiled
|
Alamo Group Inc.,
American Equipment Co., China Railway Construction Corp. Ltd.,
GEATECH Group Srl, Harsco Corp., Loram Maintenance of Way Inc.,
Plasser and Theurer Export von Bahnbaumaschinen GmbH, ROBEL
Bahnbaumaschinen GmbH, Speno International SA, and Strukton Groep
NV
|
Market
Dynamics
|
Parent market
analysis, Market growth inducers and obstacles, Fast-growing and
slow-growing segment analysis, COVID-19 impact and future consumer
dynamics, market condition analysis for the forecast
period,
|
Customization
purview
|
If our report has not
included the data that you are looking for, you can reach out to
our analysts and get segments customized.
|
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