Track Geometry Measurement System Market Railway Type (High Speed, Mass Transit, Heavy Haul, Light), Component and Geography - Global Forecast to 2022

The report "Track Geometry Measurement System Market by Measurement Type (Gauge, Twist, Vertical Profile), Operation Type (No Contact & Contact Based), Railway Type (High Speed, Mass Transit, Heavy Haul, Light), Component, and Geography - Global Forecast to 2022", is expected be valued at USD 3.51 Billion by 2022, at a CAGR of 7.88% between 2016 and 2022. The growth of this market is driven by the factors such as increasing need for safety and security in railway transport and growing railway networks and metro lines.

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The objective of this report is to define, describe, and forecast the market size and growth potential of the track geometry measurement system market across different segments such as measurement type (track gauge, twist, and others), operation type (no contact and contact), railway type (high speed, mass transit, heavy haul, light), and component. It also includes the forecast of the market size, in terms of value, with respect to four main geographies, 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. The base year considered for this report is 2015, and the forecast period for the market has been considered between 2016 and 2022. The growth of this market is driven by the factors such as increasing need for safety and security in railway transport and growing railway networks and metro lines. The diversified solutions and services such as asset management, rail track gauge inspection and diagnostics, data analysis and management in the railway transit system will create opportunities for the track geometry measurement system market.

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.

The market for track gauge measurement type is estimated to hold the largest share of the track geometry measurement system market in 2015. All passenger rail types, including high-speed or light and freight rails on a particular network, must have wheelsets that are compatible with the track gauge to avoid derailment; hence, track gauge is a very important parameter during track geometry measurement. Track gauges generally vary by country and sometimes within countries as well.

On the basis of railway type, the high-speed railways segment is expected to register the highest growth during the forecast period. High-speed rail is the form of rail transport that operates significantly faster than traditional rail, using an integrated system of specialized rolling stocks and dedicated railway tracks. This type of rail is mostly intended for passenger travel and is considered as one of the safest modes of transportation. These trains normally operate on the railway track having standard track gauge. Various 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.

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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