According to the MarketsandMarkets forecast, the
track geometry measurement system (TGMS) market is expected be worth USD
3.51 Billion by 2022, at a CAGR of 7.88% between 2016 and 2022. The
major drivers for the market include increasing need for safety and
security in railway transport and growing railway networks and metro
lines. In addition, deployment of intelligent and cost-effective
techniques in railway drive the growth of this market.
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The scope of this report covers the track geometry
measurement system market on the basis of measurement type (track gauge,
twist, and others), operation type (no contact and contact), railway
type (high speed, mass transit, heavy haul, light), and component, and
geography. 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 the track
geometry measurement system market.
High-speed railways to lead the overall market
The market for high-speed railways is expected to
hold the largest share of the overall market and projected to grow at
the highest CAGR between 2016 and 2022. These rails are mostly intended
for passenger travel and are considered as one of the safest modes of
transportation. The high-speed railway projects have been progressing
rapidly worldwide in recent years, creating opportunities for the TGMS
market. This is proven to be an efficient transportation mode and
stimulate further economic growth by connecting major cities.
The market for gauge measurement systems held the largest share in 2015
The gauge measurement type has a major foothold in
the track geometry measurement system market. Track gauges actually vary
by country and sometimes within countries as well. Gauge measurement is
a basic and key parameter for track geometry measurement to avoid
derailment as it decides which rolling stock is compatible with a
particular track gauge. The extensive use of gauge measurement system to
check this compatibility makes it the largest segment.
APAC held the largest share of the track geometry measurement system market in 2015
APAC held the largest share of the track geometry
measurement system market in 2015 because of various railway
developments in the countries such as China, Australia, and India, among
others. China is the major contributor for this region. As of 2015,
China 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.
Some of the major players in this market are Ensco,
Inc. (U.S.), Fugro (Netherlands), MER MEC S.p.A. (Italy), Balfour Beatty
(U.K.), Egis (France), Plasser & Theurer (Austria), MRX
Technologies (Australia), R. Bance & Co., Ltd. (U.K.), Bentley
Systems, Inc. (U.S.), and Goldschmidt Thermit Group (Germany), among
others.
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