231 Users Online
Track Geometry Measurement System Market Segmented By Measurement Type (Gauge, Twist, Cant and Cant Deficiency, Vertical Profile, Curvature, Alignment, Dynamic Cross-Level, Dipped Joints).
According to Persistence Market Research, the global market for track geometry measurement systems will most likely reach US$ 3.3 billion by 2023, growing at a rate of 4.9% 2023 to 2033. The market is projected to reach US$ 5.3 billion by 2033.
Railway tracks are evaluated for their condition using track geometry measurement systems. As a result, these systems reduce the risk of accidents and prevent unnecessary wear and tear on trains by detecting defective tracks or areas that need maintenance.
A track irregularity such as misaligned tracks, cross-level, etc., can also be detected and monitored by them. In addition, turnouts and switches can be evaluated using track geometry measurement systems, which can help them last longer and stay safe.
Trains, commuters, and freight trains can all use these systems, which increase efficiency and durability. Additionally, such systems improve passenger's comfort and reduce noise caused by train movements by monitoring rail tracks.
Rail transportation is safer, more reliable, and more efficient through the use of track geometry measurement systems. These systems are also necessary to reduce rail transportation's maintenance costs.
|
Report Attributes |
Details |
|
Track Geometry Measurement System Market Size (2023) |
US$ 3.3 billion |
|
Track Geometry Measurement System Projected Market Value (2033) |
US$ 5.3 billion |
|
Track Geometry Measurement System Market CAGR (2023 to 2033) |
4.9% |
FREE Report Sample is Available
In-depth report coverage is now just a few seconds away
Get FREE Report Sample
According to Persistence Market Research (PMR), track geometry measurement systems are expected to grow at a 4.9% CAGR from 2023 to 2033. Over the historical period of 2018 to 2022, the market recorded a 5.6% CAGR.
With high-speed railway lines serving a wide area, the railway network provides several benefits, such as a reduction in travel time, lower fuel consumption, and low greenhouse gas emissions when compared to other transportation modes. A large portion of the government's funding for high-speed railway expansion in developing regions can also be attributed to these factors.
Track data from the TGMS can be used for short- and long-term conservation scheduling to prevent any damage. As time progresses, the global track geometry measurement system market will be driven by the increasing demand for efficient and effective railway track management systems.
A growing need for smart technologies to maintain track efficiency and support fast expansion of high-speed rail lines will likely grow demand for a global track geometry measurement system market.
Make This Report Your Own
Take Advantage of Intelligence Tailored to your Business Objective
Get a Customized VersionRapid Growth of 5G Networks and the Need for Open-Source Drivers to Support Track Geometry Measurement System Deployment
Track geometry system development is accelerating due to the widespread adoption of contactless track measurement systems, capable of detecting more than 55 kinds of faults.
Measurements are performed with maximum precision and efficiency using contactless optical imaging technology related to third rail heights, gauging, third rails, and other parameters.
The government is actively supporting the development of safe railroad systems by funding and supporting them. The digitalization of railway transportation and the construction of high-speed railways has resulted in substantial growth of track geometry in recent years.
Due to the rise in railway accidents, governmental institutions are digitizing railway systems as a result of the rise in railway accidents. These changes are transforming the track geometry systems market. With the increasing number of railway accidents, safety, and security have become increasingly important in railway modes of transportation.
Which Region Contribute to Track Geometry Measurement System Market?
Uptake of High-speed Railways System Projects to drive demand for Track Geometry Measurement Systems in the Asia Pacific
According to PMR, Asia Pacific region is expected to dominate the market for track geometry measurement systems in the global market. Track geometry measurement system sales in Asia Pacific are expected to reach US$ 1.3 billion by 2033. According to the forecast, the market will likely accumulate a market share of 24.6%.
Due to the development of railways in different countries like China, Australia, and India, the Asia Pacific region is experiencing significant growth. Rapid metro rail development in different countries drives the market for track geometry measurement.
A CAGR of 5.8% is predicted for the Chinese market between 2023 and 2033 with a valuation of US$ 453.7 million by the end of 2033. In accordance with data from the International Energy Agency, Indian passenger movements on standard rail account for about 39% of global movements. China accounts for 27%, while Japan accounts for 11%. Within the projection years, these nations are expected to positively impact the track geometry measurement systems market in the APAC region.
What is the Growth Rate of Track Geometry Measurement Systems in North America?
According to the forecast, North America will accumulate a revenue share of 40.2% for track geometry measurement systems. The region's TGMS market is expected to grow significantly as regulatory safety requirements rise in the rail transportation sector. These regions are likely to experience growth in demand in the coming years as demand for technologies increases and large market players establish themselves in these regions.
A significant increase in artificial intelligence technologies and automated track inspection systems is causing the market for track geometry measurement systems to grow significantly in these regions. According to forecasts, the United States will hold a share of 18.5% during the forecast period. The market will grow at a CAGR of 3.8% by the end of 2033.
Sales Team
Client Partner
Which Operation Type drives the Track Geometry Measurement System Market?
No Contact Operation is Set to Increase Demand for Track Geometry Measurement System
According to market projections, the no contact market will grow at a CAGR of 4.8% by 2033. TGMS based on no contact will grow significantly during the forecast period. As a result of its high and low-speed capabilities, this operation type offers a number of advantages. A high level of accuracy is also assured through the use of advanced technologies, including optical laser sensors and imaging technologies.
Besides measuring long sections of track, it's great for measuring large networks of railway tracks. As a compact and lightweight system, inertial-based TGMS can provide an accurate measurement of rail track geometry under a variety of operating conditions. Rail track geometry measurement systems based on inertial techniques are expanding the market for no-contact TGMS.
By Measurement Type, Which Segment of the Track Geometry Measurement Systems Market is Likely to Show the Fastest Growth?
Vertical Profile will continue to grow as Track Geometry Systems Continue to Improve
The vertical profile segment will dominate the track geometry measurement system market. The market is expected to grow at a CAGR of 4.7% from 2023 to 2033. Geometry measurement systems aimed at measuring the vertical profile of a growing surface can provide information about its characteristics. These tools are commonly used in the manufacture of semiconductor wafers and other surfaces that require an accurate vertical profile.
At every stage of the growth process, the systems are typically able to measure the vertical profile of the substrate. In addition to measuring surface roughness and grain size, they also measure other parameters. This data allows the process parameters to be adjusted in order to achieve the desired vertical profile based on the data collected from these systems. All these factors are expected to significantly expand the market in the coming years.
Manufacturers of track geometry measurement systems are forming strategic partnerships with technology companies. Through the expansion of its product range, technological capabilities, and market presence, the company hopes to increase its market share. Combining the strengths of these companies could lead to innovative products.
The performance of several companies' products is enhanced through research and development. The launch of new products also serves as a means of gaining a competitive edge.
|
Attribute |
Details |
|
Forecast Period |
2023 to 2033 |
|
Historical Data Available for |
2018 to 2022 |
|
Market Analysis |
US$ billion for Value |
|
Key Countries Covered |
|
|
Key Market Segments Covered |
|
|
Key Companies Profiled |
|
|
Pricing |
Available upon Request |
By Measurement Type
By Operation Type
By Railway Type
By Component
By Region
According to estimates, the global track geometry measurement system market was worth US$ 3.1 billion by 2022.
Track geometry measurement system cables are expected to generate US$ 3.3 billion in revenue in 2023.
Globally, the market for track geometry measurement systems is expected to reach US$ 5.3 billion by 2033.
The track geometry measurement system market is expected to grow at a CAGR of 4.9% during the forecast period.
According to a PMR, track geometry measurement system sales grew 5.6% between 2018 and 2022.
No contact will account for a significant revenue of 4.8% CAGR by 2033.
Japan's track geometry measurement system is forecast to grow at a CAGR of 4.4% over the forecast period.
