North America Track Geometry Measurement System Market Size, Share & Industry Trends Analysis Report By Component (Hardware, Software, and Services), By Operation (Contact and Contactless), By Railway Type, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Track Geometry Measurement System Market would witness market growth of 5.9% CAGR during the forecast period (2022-2028).
The use of track geometry measurement systems is growing rapidly. One of the most demanded and popular systems of TGMS is computerized track measuring equipment. During operation, construction, and repair projects of the railway track, these systems are used for monitoring, recording, and digitally indicating the track gauge, current track coordinates, and cross-level.
These systems take measurements of the track geometry parameters, and analyze the data similar to how a track measuring car does, and allow for a full-scale analysis of the track's current state and the prediction of future deterioration. According to the needs of the inspection equipment and the length of the rail tracks, several TGMS inspection systems and techniques are available in the market.
The track data's correctness and dependability are essential for long-term as well as immediate maintenance. The expansion of railways, along with rising investment in railway networks across several nations, is primarily fuelling the development of the track geometry measurement system market.
The rail transportation network in North America is very geographically specialized, with major train operators serving sizable regional sectors. Each company has its own infrastructure and, consequently, markets along the sectors it controls. With the consolidation of significant equipment and infrastructure assets over many decades, the railway system has resulted from sizeable capital investments. In the region Chicago (US), which is situated at the intersection of the Western, Eastern, and Canadian rail lines, is the biggest interlining center in North America, carrying about 10 million twenty equipment units (TEUs) annually. Such factors propel the growth of the regional track geometry measurement system market.
The US market dominated the North America 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 $900.4 Million by 2028. The Canada market is poised to grow at a CAGR of 8% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 7.7% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Track Geometry Measurement System Market is Estimated to reach $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).
Scope of the Study
Market Segments Covered in the Report:
By Railway Type
- Mass Transit Railways
- High-Speed Railways
- Heavy Haul Railways
- Light Railways
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Siemens AG
- Balfour Beatty Plc
- Bentley Systems, Inc.
- Egis Group
- Fugro N.V.
- Trimble, Inc.
- ENSCO, Inc.
- E.S.I.M. Group
- Plasser & Theurer
- MER MEC S.p.A. (Angel Company)
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