The Worldwide Track Geometry Measurement System Market is Projected to reach USD 4.4 Billion by 2028, at a CAGR of 6.2%

Published Date: 21-Feb-2023

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Track Geometry Measurement System Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Track Geometry Measurement System Market size is expected to reach $4.4 billion by 2028, rising at a market growth of 6.2% CAGR during the forecast period.

The Services segment is showcasing a CAGR of 6.8% during (2022 - 2028). For the purpose of subsequent analysis and planning of the operations on the track's periodic maintenance and repair, all collected data is analyzed in real-time, documented, and saved. By reviewing and examining the recorded data, judgments on construction and maintenance are made. For safe operations and cost-effective construction and maintenance, accurate and dependable track geometry data is necessary.

The Contact segment is leading the Global Track Geometry Measurement System Market by Operation in 2021 hereby, achieving a market value of $2.5 billion by 2028. A contact based TGMS utilizes sensors to determine a railroad track's shape and give data for evaluation and repair. The system can be implemented on either new or old railway lines and can be utilized on both high-speed and light railways. Systems that rely on contacts are also highly accurate and precise. The ease of operability and accurate data generation are the primary factors boosting the segment's growth.

The Heavy Haul Railways segment has shown the growth rate of 6.4% during (2022 - 2028). Heavy haul railways are expanding as a result of rising demand for assessing and improving the quality of tracks to reduce restoration times and maintenance costs. Freight or heavy haul railways employ TGMS to keep records of the track geometry and spot potential difficulties like cross-level problems, rail seat wear, and gauge widening. TGMS can also track the progress of the railway network's maintenance tasks. This data can also be shared with other relevant parties to improve coordination and decision-making across the whole railway network. Such benefits are boosting the growth of the segment.

The Asia Pacific market dominated the Global Track Geometry Measurement System Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.6 billion by 2028. The North America market is exhibiting a CAGR of 5.9% during (2022 - 2028). Additionally, The Europe market would showcase a CAGR of 5.5% during (2022 - 2028).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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).

Global Track Geometry Measurement System Market Segmentation

By Component

  • Hardware
  • Software
  • Services

By Operation

  • Contact
  • Contactless

By Railway Type

  • Mass Transit Railways
  • High-Speed Railways
  • Heavy Haul Railways
  • Light Railways

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • 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)

Unique Offerings from KBV Research

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  • The highest number of Market tables and figures
  • Subscription-based model available
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  • Assured post sales research support with 10% customization free

Related Reports:

North America Track Geometry Measurement System Market size & Opportunities 2022-2028

Europe Track Geometry Measurement System Market & Growth Forecast 2022-2028

Asia Pacific Track Geometry Measurement System Market Share & Industry Outlook to 2028

LAMEA Track Geometry Measurement System Market Growth, Trends & Forecasts 2022-2028

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