Dublin, Nov. 01, 2021 (GLOBE NEWSWIRE) -- The "Track Geometry Measurement System Market - Market Size & Forecasting (2017-2028)" report has been added to ResearchAndMarkets.com's offering.
The Track Geometry Measurement System (TGMS) market is expected to be worth USD 358.58 million and it is expected to grow at a CAGR of 3.7% over the forecast period.
The Track Geometry Measurement System (TGMS) market report describes the opportunities and competitive conditions for Track Geometry Measurement System (TGMS) market for national and global business. Estimates of the market size and projections were given on the basis of a comprehensive research methodology adapted to the demand conditions for Track Geometry Measurement System (TGMS) market.
The report is an all-inclusive global research study of the Track Geometry Measurement System (TGMS) market that takes account of growth factors, recent developments, innovations, opportunities and the competitive landscape.
Historical Perspective for Track Geometry Measurement System (TGMS) market was studied in order to provide accurate growth estimates. Primary variables affecting the growth of the demand for the Track Geometry Measurement System (TGMS) market were also studied with potential gravity. The market has been segmented in major regions to understand the global development and demand patterns of this market.
The Asia Pacific region is projected to hold major market share of the track geometry measurement system (TGMS) market over the forecast period. Because of the continuous growth in railway infrastructure, including high-speed rails and mass transit systems across different countries, including China and India, there has been an increase in the region's demand for equipment for track geometry measurement systems.
The major companies profiled in the report include MER MEC S.p.A., Ensco Inc., MRX Technologies, Plasser & Theurer, R. Bance & Co. Ltd., Bentley Systems Inc., Goldschmidt Thermit Group, Balfour Beatty, Fugro, and others. These companies have adopted product development, expansion, and merger strategies to consolidate market position amidst intense competition.
In-depth Market Analysis:
Economic environment is a crucial factor that any main player needs to know about. The study sheds light on the global Track Geometry Measurement System (TGMS) market 's competitive scenario for understanding the competition at both domestic and global level.
For immediate and long-term maintenance planning, the Track Geometry Measurement System (TGMS) offers accurate and trustworthy track data. The device may be installed on almost any rail-bound vehicle and delivers all of the information required for effective track asset management. These track measures can be used in any weather situation. The system provides the results in the form of real-time strip charts and exception reports.
Market Segmentation:
- Based on the product type, the track geometry measurement system market has been segmented as track geometry trolley, track geometry inspection vehicle (TGIV), and autonomous track geometry measurement system (ATGMS). The track geometry inspection vehicle (TGIV) segment is expected to grow significantly over the forecast period. It has been expected to grow at a CAGR of 3.9% during the forecast period.
- Based on the operation type, this market is divided into no contact and contact. The no contact segment is expected to see substantial growth over the forecast period. The operation type segment was valued USD 188.95 Million in 2020.
- Based on the railway type, this market is segmented as high-speed railways, mass transit railways, heavy haul railways, and light railways. The high-speed railways segment is expected to see substantial growth over the forecast period. It is projected to grow at a CAGR of 3.3% during the forecast period.
- By region, the global track geometry measurement system (TGMS) market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific track geometry measurement system market is expected to grow at a CAGR of 4.6% during the COVID-19 period.
Impact Factor Analysis
Drivers
- Increasing Demand for Track Geometry Measurement Systems (TGMS) from High-Speed Railways and Mass Transit Railways
- Increasing Need for Security and Safety in Railway Transportation
Restraints
- Lack of Proper Infrastructure for the Installation of Track Geometry Measurement System
Opportunities
- The Adoption of Track Geometry Measurement Systems for Track Maintenance
Challenges
- Data Protection and Management
Companies Mentioned
- Hitachi Corporation
- Siemens AG
- Harsco Corporation
- Balfour Beatty plc.
- Furgo Inc.
- Egis Group
- Mermec Inc.
- Ensco Inc.
- Plasser & Theurer.
- R Bance & Co Ltd
- Bentley System Inc.
- Goldschmidt Thermit Group
- Holland Lp.
- Amberg Technologies
- Zg Optique Sa.
For more information about this report visit https://www.researchandmarkets.com/r/d68num
