The Europe Track Geometry Measurement System Market would witness market growth of 5.5% CAGR during the forecast period (2022-2028).
The development of evaluation cars and automated maintenance, as well as the rise of measurement systems with lasers, makes it possible to operate with minimum human help.
These also provide exact data and communicate any faults or deformations present in the tracks to the relevant department. The use of track geometry measurement systems is also expanding due to the real-time data delivery through GPS that is precise and uninterrupted. The requirement to integrate various track geometry measuring solutions in order to comply with a diverse range of rail industry norms and legislation is one of the key factors driving the adoption of TGMS.
Other factors propelling the TGMS market include the implementation of the system for track maintenance as well as the expanding network of high-speed and metro trains. Additionally, because of the high rate of acceptance, TGMS manufacturers have improved the accuracy, durability, and compactness of these systems, which is anticipated to boost their sales even more.
Many nations are making investments in technologies that have the potential to lessen their carbon impact. The need for railroad transportation is growing as a result of these developing nations' shifting attitudes, which in turn raises the demand for track geometry measurement systems. In addition, the European Union has recently boosted its Regional Development Fund in order to expand the 715 km long high-speed line between Madrid and Lisbon. The demand for track geometry measurement system has recently increased due to such advancements in Europe.
The Germany market dominated the Europe Track Geometry Measurement System Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $291.6 Million by 2028. The UK market is anticipated to grow at a CAGR of 4.7% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 6.3% during (2022 - 2028).
Based on Component, the market is segmented into Hardware, Software, and Services. Based on Operation, the market is segmented into Contact and Contactless. Based on Railway Type, the market is segmented into Mass Transit Railways, High-Speed Railways, Heavy Haul Railways, and Light Railways. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Track Geometry Measurement System Market will Hit $4.4 Billion by 2028, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Balfour Beatty Plc, Bentley Systems, Inc., Egis Group, Fugro N.V., Trimble, Inc., ENSCO, Inc., E.S.I.M. Group, Plasser & Theurer, and MER MEC S.p.A. (Angel Company).
By Component
By Operation
By Railway Type
By Country
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