The global railway maintenance machinery market size reached USD 4.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 7.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
USD 4.8 Billion |
Market Forecast in 2032
|
USD 7.8 Billion |
Market Growth Rate (2024-2032) | 5.3% |
Railway maintenance machinery refers to the equipment used to monitor and fix damages on the railway tracks. Some of the commonly used machineries include tampers, ballast regulators, dynamic track stabilizers, ballast cleaners and undercutters. They are majorly used for inspecting, repairing and maintaining railway tracks to ensure smooth functioning and enhanced operational life of the railway tracks. They are also utilized for the mechanical maintenance of vertical and horizontal alignment of the railway tracks. The equipment can be utilized on both ballast and non-ballast tracks to lift the sleeper and pack the ballast to prevent abrasion, deformation, change of geometry and damage to various components of the tracks.
Significant improvement in the railway infrastructure, especially in developing economies, is one of the key factors driving the market growth. Governments are extensively investing in refurbishing the existing railway tracks to provide a secure, safe and efficient travel experience to the masses. Moreover, increasing instances of railway accidents and train derailment is also providing a thrust to the market growth. Periodic maintenance activities aid in preventing such incidents and minimizing the loss of lives and property. In line with this, the widespread adoption of electric trains in place of fuel-powered trains is also increasing the demand for railway maintenance machinery. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and artificial intelligence (AI) solutions, are acting as other growth-inducing factors. Railway maintenance organizations are using scalable and cloud-based systems for signaling, controlling, supervising and protecting railway systems. Other factors, including rapid urbanization, along with the implementation of favorable government policies, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global railway maintenance machinery market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on product type, application and sales type.
Breakup by Product Type:
Breakup by Application:
Breakup by Sales Type:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being American Equipment Company Inc (Fluor Corporation), China Railway Construction Corporation Limited, Geatech Group srl, Harsco Corporation, Loram Maintenance of Way Inc. (Coril Holdings Ltd.), MATISA Industrial Materials S.A, Plasser & Theurer, Speno International SA, Strukton and Teräspyörä-Steelwheel Oy.
Report Features | Details |
---|---|
Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | Billion USD |
Segment Coverage | Product Type, Application, Sales Type, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | American Equipment Company Inc (Fluor Corporation), China Railway Construction Corporation Limited, Geatech Group srl, Harsco Corporation, Loram Maintenance of Way Inc. (Coril Holdings Ltd.), MATISA Industrial Materials S.A, Plasser & Theurer, Speno International SA, Strukton and Teräspyörä-Steelwheel Oy |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global railway maintenance machinery market was valued at USD 4.8 Billion in 2023.
We expect the global railway maintenance machinery market to exhibit a CAGR of 5.3% during 2024-2032.
Continuous upgradation of existing railway infrastructures, along with the rising application of railway maintenance machinery to monitor and fix damages on the railway tracks, is primarily catalyzing the global railway maintenance machinery market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in transportation restrictions and delay in the logistics activities, thereby limiting the demand for railway maintenance machinery.
Based on the product type, the global railway maintenance machinery market can be segmented into tamping machine, stabilizing machinery, rail handling machinery, ballast cleaning machinery, and others. Among these, tamping machine currently holds the majority of the total market share.
Based on the application, the global railway maintenance machinery market has been divided into ballast track and non-ballast track, where ballast track currently exhibits a clear dominance in the market.
Based on the sales type, the global railway maintenance machinery market can be categorized into new sales and aftermarket. Currently, aftermarket sales account for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global railway maintenance machinery market include American Equipment Company Inc (Fluor Corporation), China Railway Construction Corporation Limited, Geatech Group srl, Harsco Corporation, Loram Maintenance of Way Inc. (Coril Holdings Ltd.), MATISA Industrial Materials S.A, Plasser & Theurer, Speno International SA, Strukton, Teräspyörä-Steelwheel Oy, etc.