The track geometry measurement system (TGMS) market is expected to be worth USD 3.51 billion by 2022, at a CAGR of 7.88% between 2016 and 2022. Cost-effective maintenance of tracks and operational safety require accurate and reliable track geometry data. Geometry parameters are calculated in real time, and statistical reports are generated so that maintenance work can be carried out for the track irregularities, if any. However, slow infrastructural growth can be a factor hindering the growth of the market.
"The market for high-speed railways is likely to grow at the highest rate during the forecast period"
The high-speed rail is mostly intended for passenger travel and is considered as one of the safest modes of transportation. Various high-speed railway projects have been progressing rapidly worldwide in recent years, creating opportunities for the TGMS market. These are proven to be an efficient transportation mode and stimulate further economic growth by connecting major cities.
"Track geometry measurement system market in APAC to grow at the highest CAGR"
The APAC region holds growth potential for the market in the near future and is expected to grow at the highest rate during the forecast period. The major reason for this is the rapid expansion of high-speed rails, mass transit systems, and subways in the APAC countries in the recent years. In China, the high-speed rail service was introduced in 2007, and as of 2016, it has the world's longest high-speed railway network. In addition, the rapid expansions in metro systems in the countries such as India and Australia are creating growth prospects in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people. The break-up of the profile of primary participants has been given below:
- By Company Type: Tier 1 – 25 %, Tier 2 – 35%, and Tier 3 – 40%
- By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
- By Region: Europe– 43%, APAC – 29%, North America – 14%, and RoW – 14%
The key players in the track geometry measurement system market profiled in the report are as follows:
1. Ensco, Inc. (U.S.)
2. Fugro (Netherlands)
3. MER MEC S.p.A. (Italy)
4. Balfour Beatty (U.K.)
5. Egis (France)
6. Plasser & Theurer (Austria)
7. MRX Technologies (Australia)
8. R. Bance & Co., Ltd. (U.K.)
9. Bentley Systems, Inc. (U.S.)
10. Goldschmidt Thermit Group (Germany)
The study covers the track geometry measurement system market across different segments such as measurement type, operation type, railway type, and component. It also includes the forecast of the market size, in terms of value, with respect to four main geographical regions, namely, North America, Europe, APAC, and Rest of the World. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the market. It also profiles the key players operating in track geometry measurement system market. It also describes the overall value chain of the track geometry measurement system market and Porter's five forces.
Reasons to Buy the Report:
1. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
2. This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product launches and developments, partnerships, and mergers and acquisitions in the TGMS market.
Download the full report: https://www.reportbuyer.com/product/4364902/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: firstname.lastname@example.org Tel: +44 208 816 85 48 Website: www.reportbuyer.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/track-geometry-measurement-system-market-by-measurement-type-operation-type-railway-type-component-and-geography---global-forecast-to-2022-300367903.html