Track Geometry Measurement System Market Research Report – Forecast 2027

Track Geometry Measurement System Market Research Report, by Operation Type (Contact, Contactless), Measurement Type (Gauge, Twist, Cant and Cant Deficiency, Vertical Profile, Curvature, Alignment, Dynamic Cross-Level, Others), Component (Software, Lighting Equipment, Navigation Equipment, Communication Equipment, Power Supply Equipment, Sensor, Camera, Data Storage & Desktop) — Forecast till 2027

ID: MRFR/SEM/6048-HCR | February 2021 | Region: Global | 100 pages         

Track Geometry Measurement System Market

Track Geometry Measurement System Market is expected to grow from USD 2.51 billion in 2017 to USD 3.62 billion by 2023, at a CAGR of 6.53% during the forecast period.

Segmentation

Based on Operation Type Contact Contactless
Based on Measurement Type Gauge Twist Cant and Cant Deficiency Vertical Profile Curvature Alignment Dynamic Cross-Level
Based on the Component Software Lighting Equipment Navigation Equipment Communication Equipment Power Supply Equipment Sensor Camera Data Storage & Desktop

Key Players

  • Balfour Beatty PLC(UK)
  • Ensco PLC (UK)
  • Fugro N.V. (Netherlands)
  • Plasser & Theurer (Austria)
  • R. Bance & Co. (UK)
  • MERMEC S.p.A (Italy)
  • Goldschmidt Thermit Group (Germany)
  • Egis Group (France)
  • Siemens AG (Germany)
  • Bentley Systems
  • Inc. (US)
  • Deutzer Technische Kohle GmbH (Germany)
  • KZV
  • Spol. Sro (Czech Republic)
  • Vista Instrumentation LLC (US)
  • ZG Optique SA (Switzerland)
  • Harsco Corporation (US)
  • Trimble Inc. (US)
  • Amberg Technologies AG (Switzerland)
  • Rail Vision Europe (UK)
  • and Holland LP (US)

Drivers

  • Stringent standards and regulations with regards to railway tracks. Growing popularity of contactless track geometry measurement.
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Track Geometry Measurement System Market synopsis


Track Geometry Measurement System Market is expected to grow from USD 2.51 billion in 2017 to USD 3.62 billion by 2023, at a CAGR of 6.53% during the forecast period. The Track Geometry measurement systems are utilized in evaluating the condition of the railway tracks. The varied inspection systems and approaches were introduced into the market according to the requirements of the inspection facilities and expanse of the rail tracks. The accuracy and reliability of the track data are highly crucial for immediate or long-term maintenance. The development and increasing investment in railway systems in several countries are likely to propel the overall growth of the Track Geometry Measurement System industry.


Harsh climatic conditions and hazardous situations are the primary challenges in performing the evaluation procedures. However, the advent of automated maintenance and evaluation cars and laser-equipped measuring systems are capable of operating with minimal human assistance while providing precise data and transferring the imperfections or any deformations in the tracks to the concerned department. The real-time data transfer with no GPS interruptions and precision is further propelling the overall growth of the Track Geometry Measurement System industry.


COVID 19 Analysis:


The US-based market player ENSCO rail track geometry systems were continuously operating throughout the pandemic with the advanced Track Geometry systems that don’t require much human assistance. The reduction in workforce has affected the Track Geometry Measurement System market growth. However, the advancing technologies and novel methodologies in altering the general construction have impacted the overall growth of the Track Geometry Measurement system.


Since transporting industrial and infrastructural materials were held up during the pandemic, the disruption has also slightly impacted the overall growth of the Track Geometry Measurement System industry.


Market Dynamics:


Market Drivers:


The increasing adaptation of the contactless track measurement system which is capable of identifying over 50 different types of defects in the rail tracks is stimulating the overall growth of the Track Geometry Measurement System industry. The contactless optical imaging technology is utilized in measuring the third rail, third rail height, gauging, and other parameters with supreme efficiency and accuracy.


Governmental organizations are increasingly investing in the development of the safety of railway systems. The UK government has recently confirmed their funding for the High-Speed Rail and System Integration. A fund of EURO 11 million is promised for the project which is aimed to be combined with EURO 13 million provided by Leeds City Region Enterprise. Such investments are for the development of trains, tracks, power systems, signal interaction facilities, and other primary operations.


Market Opportunities:


The construction of the high-speed railway systems and the digitalization of the railway mode of transportation are generally increasing the overall growth of the Track Geometry Measurement System industry in recent times. With the rising number of accidents in the railways, governmental organizations are propelled to adopt the digitalization of railway systems to ensure safety. Such up gradations are more likely to increase the Track Geometry Measurement System market growth.


The requirement for security and safety in the railway mode of transportation are increasing in recent times with the rising railway accidents. The recent reports show that the derailing of defective tracks and other railway-related deformations have caused numerous accidents in recent times, especially in the countries like the United States. Such factors are presenting lucrative opportunities for the overall growth of the Track Geometry Measurement System industry.


Market Restraints:


The raw materials required for the construction of track geometry systems, which are generally integrated with advanced technologies and modules. The real-time data processing and laser precision technologies require components such as measuring trolleys, surveying apparatuses are generally fluctuating in their prices with the economic condition of the regions.


The slower infrastructural development in the developing countries and underdeveloped countries is also hindering the overall growth of the Track Geometry Measurement System industry.


Market Challenges:


Scheduled planning, unforeseen urgent repairs, and maintenance, harsh climatic conditions, rodents are considered as the major challenges in the Track Geometry Measurement System industry.


Lack of proactive track inspection tools which are capable of providing data with precision in real-time at an affordable range is also considered as the primary challenge for the Track Geometry Measurement System market growth.


Cumulative Growth Analysis:


Several technological developments in the Track Geometry Measurement System industry are the primary driving factors for the Track Geometry Measurement System industry. The laser-based Rail corrugation Measuring systems are highly adapted for high-speed trains. The corrugation of the tracks is measured to reduce the noise created during transportation. Generally, the noise increases by about 7 dB. The Rail Corrugation Measurement Systems generally assess the tracks on a section basis which helps in efficient replacement planning. The increasing railway accidents due to the causes such as defective tracks, derailments, unprotected railroad crossings, stalled cars on the tracks have stimulated the overall growth of the Track Geometry Measurement System industry. Improper maintenance of the tracks can lead to frequent derailment of the trains. Such factors are fueling the Track Geometry Measurement System market growth.


Value Chain Analysis:


The Ride Quality Measurement System works with inertial technology that helps in evaluating parameters and computing them at various suspension levels. Features such as real-time monitoring and measuring with high precision at high speeds have also increased the demand for the Ride Quality Measurement System. The advanced signal processing system integrated into the system and the essential sensors integrated with the system are capable of locating the rough ride locations, battered joints, engine burns, crushed railheads, and other abnormalities. The basic parameters have helped the engineers in calculating the quality indexes. This factor complies with the regulations set by the Ride Quality in agreement with many international regulations UIC 518. On the other hand, the cloud-based Track geometry systems are efficient in estimating the abnormalities in the tracks and immediately transfer the data to the driver to control their speed accordingly.


Thus the developments in the Track Geometry industry and the rising number of railway accidents and similar hazards have propelled the overall growth of the Track Geometry Measurement industry in recent years.


Segment Overview:


Based on Operation Type:



  • Contact

  • Contactless


Based on Measurement Type:



  • Gauge

  • Twist

  • Cant and Cant Deficiency

  • Vertical Profile

  • Curvature

  • Alignment

  • Dynamic Cross-Level


Based on the Component:



  • Software

  • Lighting Equipment

  • Navigation Equipment

  • Communication Equipment

  • Power Supply Equipment

  • Sensor

  • Camera

  • Data Storage & Desktop


Regional Analysis:


Several countries are investing in technologies that tend to reduce their carbon footprint. European countries are increasingly adopting technologies in energy generation and investing in electric vehicles that reduce the carbon footprint. Such changing attitude of the developing countries is increasing the necessity of railway transport which thereby increases the Track geometry measurement system market demand. On the other hand, the European government has increased its Regional Development Fund in recent times to increase the 715km long Madrid-Lisbon High-speed line. Such developments in Europe have projected the Track Geometry Measurement System market value in recent years. Europe is expected to dominate the Track Geometry market share in the forecast period owing to the expansion of their warehouse capacity, which is related to the automotive manufacturers.


Asia-pacific regions are also expected to dominate the Track Geometry Measurement System market share owing to the rapid growth in the railway's infrastructure. Mass transit systems across various countries such as China, India, and other railway connections and improved infrastructure have propelled the Track Geometry Measurement System market growth in the Asia-pacific region.


Competitive Landscape:



  • Balfour Beatty PLC(UK)

  • Ensco PLC (UK)

  • Fugro N.V. (Netherlands)

  • Plasser & Theurer (Austria)

  • R. Bance & Co. (UK)

  • MERMEC S.p.An (Italy)

  • Goldschmidt Thermit Group (Germany)

  • Egis Group (France)

  • Siemens AG (Germany)

  • Bentley Systems, Inc. (US)

  • Deutzer Technische Kohle GmbH (Germany)

  • KJV

  • Spol. Sro (Czech Republic)

  • Vista Instrumentation LLC (US)

  • ZG Optique SA (Switzerland)

  • Harsco Corporation (US)

  • Trimble Inc. (US)

  • Amberg Technologies AG (Switzerland)

  • Rail Vision Europe (UK)


Recent Developments:


The ballast tracks are commonly seen in many parts of the world. However, the ballast tracks are found to be inefficient in supporting the heavier and faster trains that run in several parts of Australia. The engineers have observed that these ballast tracks need to be developed for transporting infrastructure and the designs must be optimized according to the requirements. The Geocomposites are used to balance the confining pressure on the rail track. The upper sub-ballast layer is confined with the energy-absorbing recycled tires. This novel solution is found to be efficient as it increases the stability and resilience of the track structure.


In recent times, a cloud-based track geometry system is developed that is capable of capturing the abnormalities of the tracks. Additionally, the challenge that rises with the signaling problems restricts the driver from estimating the location of the abnormality in real-time. The information gathered by the Cloud-based Track geometry systems can be shared with the other drivers and thereby warn them to reduce the speed at the location sharing.


Report Overview:


This report has covered:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segment Overview

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 3.62 Billion
  CAGR   6.53%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Operation Type, Measurement Type, Component
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Balfour Beatty PLC(UK), Ensco PLC (UK), Fugro N.V. (Netherlands), Plasser & Theurer (Austria), R. Bance & Co. (UK), MERMEC S.p.A (Italy), Goldschmidt Thermit Group (Germany), Egis Group (France), Siemens AG (Germany), Bentley Systems, Inc. (US), Deutzer Technische Kohle GmbH (Germany), KZV, Spol. Sro (Czech Republic), Vista Instrumentation LLC (US), ZG Optique SA (Switzerland), Harsco Corporation (US), Trimble Inc. (US), Amberg Technologies AG (Switzerland), Rail Vision Europe (UK), and Holland LP (US)
  Key Market Opportunities   Continuous growth in railways infrastructure including high-speed rails and mass transit system across various countries.
  Key Market Drivers

  • Stringent standards and regulations with regards to railway tracks.
  • Growing popularity of contactless track geometry measurement.


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    Frequently Asked Questions (FAQ) :

    The market’s futuristic valuation will be USD 4.35 billion by 2023,

    The key drivers of the market are mentioned as advancement of wireless technology in equipment monitoring solutions, rising adoption of IoT based cost-effective equipment monitoring systems.

    General Electric Company (US), Emerson Electric Co. (US), Schneider Electric SE (France), Honeywell International Inc. (US) are the key players who are constantly influencing the market’s growth.

    The major key players are constantly creating strategies such as strategic partnerships, mergers, acquisitions, and product launch to enhance their product offerings and the market reach overseas.

    North America, Europe, Asia-Pacific, and the rest of the world.