Global Railway Maintenance Machinery Market to Reach $7.61 Billion by 2031: Allied Market Research
September 23, 2022
Exponential growth in global population along with the rise in urbanization, increase in traffic congestion of roads, delay in time for the transportation of goods, and prevalence of better, cheaper, and safer mode of transport in railways are expected to drive the growth of the global railway maintenance machinery market. Presence of social distancing restrictions and stoppage of train various train services during the pandemic had a negative impact on the growth of the global market.
/EIN News/ -- Portland,OR, Sept. 23, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global railway maintenance machinery market generated $3.94 billion in 2021, and is projected to reach $7.61 billion by 2031, growing at a CAGR of 6.6% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
Download Free Sample Report (240 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/8504
Report coverage & details:
|Market Size in 2021||$3.94 billion|
|Market Size in 2031||$7.61 billion|
|No. of Pages in Report||240|
|Segments Covered||Product Type, Application, Sales Type, And Region.|
|Drivers||Exponential growth in global population|
|Increase in traffic congestion of roads in densely populated countries|
|Opportunities||Delay in time for the transportation of goods|
|Rise in investment for the development of railway infrastructure|
- The COVID-19 pandemic has had a negative impact on the growth of the global railway maintenance market, owing to the presence of stringent regulatory mandates as imposed by the governments of various countries around the world.
- Strict social distancing restrictions are imposed by the government so as to significantly curb the spread of the virus during the pandemic.
- There was ban on all sorts of transportation, including buses, railways, and flight, which adversely impacted the growth of the market.
- In addition, all sorts of transportation and logistics services were halted, in turn reduced the maintenance of tracks. However, the market is expected to recoup with eased travelling restrictions and increase in investment for better railway infrastructure.
The report offers detailed segmentation of the global railway maintenance machinery market based on product type, application, sales type, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on product type, the tamping machine market held the largest market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The report also analyses other segments of the market such as stabilizing machinery, rail handling machinery, ballast cleaning machine, and others.
Based on application, the ballast track segment held the dominating market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The non-ballast track segment, on the other hand, is expected to cite the fastest CAGR of 7.0% during the forecast period.
Based on sales type, the aftermarket sales segment held the largest market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 6.8% during the forecast period.
Based on region, the market across Europe held the largest market share in 2021, holding two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 8.9% during the forecast period.
The key players analyzed in the global railway maintenance machinery market report include China Railway Construction Corporation Limited (CRCC High-Tech Equipment Corporation Limited.), CRRC Corporation Limited, System7 Rail Holding GmbH, Harsco Corporation, MER MEC S.p.A., Geatech Group Srl, Plasser & Theurer, Export von Bahnbaumaschinen, Gesellschaft m.b.H., SinaraTransport Vehicles, Fluor Corporation (American Equipment Company, Inc.), and Coril Holdings Ltd. (Loram Maintenance of Way, Inc.).
The report analyzes these key players in the global railway maintenance machinery market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
Trending Reports in Railway Maintenance Machinery Industry (Book Now with 10% Discount):
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on Blog: https://www.marketinshort.com