Dublin, April 05, 2023 (GLOBE NEWSWIRE) -- The "Global Track Geometry Measurement System Market Size, Share & Industry Trends Analysis Report By Component, By Operation, By Railway Type, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
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.
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)
Track geometry measurement systems (TGMS) are one of the most crucial techniques in the railway industry for evaluating track maintenance scheduling and safety. It is highly understood that derailments of tracks, which can cause catastrophic damage, can be prevented by routinely measuring and assessing track geometry.
For example, vehicle and track contact derailments like spreading gauge, rail rollover, and wheel climb are primarily caused by the geometry of the track. Additionally, certain track geometry circumstances can also cause derailments like broken rail, damaged fasteners, and derailments caused by thermal misalignment. Therefore, TGMS gives the primary ability to guarantee that the geometry condition of tracks is within acceptable bounds for safe operations.
Vibrations and the impact of fast trains have a significant impact on track geometry. In addition to the gauge suffering severe wear and tear, the alignment and cross-level are also compromised because of vibrations. This propels the need for predictive track maintenance and as a result due to the increased frequency of checks and the necessity for faster and more accurate measurements, track geometry measurement equipment is increasingly required.
Track geometry mainly focuses on the qualities and interactions of lines, curves, surfaces, and points in a railroad track's three-dimensional (3D) location. In addition, track design, building, and maintenance measurements are also referred to as track geometry. Track gauge, alignment, height, curvature, and track surface are all governed by regional statutory standards, speed caps, and other laws.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 208 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $2901.2 Million |
| Forecasted Market Value (USD) by 2028 | $4362.5 Million |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Market Growth Factors
Rising adoption of contactless TGMS and TGMS in general
The adoption of the contactless TGMS is growing as it can detect more than 50 different kinds of flaws in train tracks. With exceptional efficiency and accuracy, the third rail, gauging, third rail height, and other parameters are measured with the help of contactless optical imaging technology. Additionally, many governmental agencies are spending more money on improving the security of railroad systems. Such improvements are more likely to boost the growth of the track geometry measurement system market.
Growing need for improving the safety of tracks
The railway mode of transportation is one of the most significant modes for goods and passengers worldwide. All industries focus highly on the need for rail transportation's security and safety. The increased adoption of track geometry measuring systems is anticipated to be majorly driven by the growing requirement for an efficient and effective railroad track management system.
Many government authorities are also concentrating on constructing light rail infrastructure, like metro trains, along with expanding the railway networks to connect previously unconnected population centers to meet the escalating need for public transportation in numerous countries. These elements generate a profitable potential for the overall expansion of the track geometry measurement system market.
Market Restraining Factors
Fluctuating prices of TGMS equipment and privatization levels in different nations
A high number of raw materials are needed to build track geometry systems, which are frequently coupled with cutting-edge technologies and modules. For example, measurement carts and surveying equipment are needed for the real-time processing of data and laser precision technologies.
However, these items' costs typically change depending on the local economy. Additionally, the slower rate of infrastructure development in developing and undeveloped nations also influence the pace of TGMS implementation. Hence, all these elements are working together to hamper the growth of the track geometry measurement system market.
Scope of the Study
Market Segments Covered in the Report:
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
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/fkasd
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