The global track geometry measurement system market is estimated to reach a valuation of US$ 3.4 billion in 2023, with a projected CAGR of 6.3% from 2023 to 2033. By 2033, the market is expected to be worth US$ 6.3 billion. The presence of numerous standards and regulations within the railway sector and the necessity of track geometry measurement systems (TGMS) to adhere to those standards is expected to drive market expansion.
The measurement of track geometry holds significant importance in the rail industry as it aids in maintenance planning and ensures track safety assessments, in turn fuelling the demand for the same.
| Attribute | Details |
|---|---|
| Track Geometry Measurement System Market Estimated Value (2023) | US$ 3.4 billion |
| Track Geometry Measurement System Market Estimated Value (2033) | US$ 6.3 billion |
| Track Geometry Measurement System Market Value CAGR (2023 to 2033) | 6.3% |
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According to the FMI analysis, the market for track geometry measurement systems garnered revenue of about US$ 2.4 billion in 2018, with a CAGR of 7.1% from 2018 to 2022.
The outlook for the track geometry measurement system industry from 2023 to 2033 is projected to exhibit significant growth compared to the period from 2018 to 2022.
This anticipated growth can be attributed to several factors, including the increasing emphasis on railway safety and efficiency, the need to comply with evolving industry standards and regulations, and the rising demand for advanced maintenance planning tools.
Adopting TGMS solutions is expected to expand as railway authorities and operators recognize their crucial role in ensuring track safety and optimizing maintenance operations.
Technological advancements, such as integrating artificial intelligence and data analytics into TGMS systems, are likely to further drive market growth by enhancing measurement accuracy and efficiency.
Overall, the 2023 to 2033 timeframe presents a promising landscape for the market, with an anticipated growth rate of 6.3%, reaching US$ 6.3 billion by 2033.
Principal Consultant
The China track geometry measurement system market is witnessing a surge in growth driven by several factors fostering the country's projected market size of US$ 1.6 billion, growing at a 7.7% rate from 2023 to 2033. The rapid expansion of China's extensive high-speed rail network, renowned for its extensive coverage, has created a strong demand for precise track measurements to ensure safety and operational efficiency.
The government's prioritization of railway infrastructure development and modernization initiatives has further fueled investments in TGMS solutions. Compliance with stringent safety standards and regulations has also led to an increased need for accurate track geometry measurements.
The integration of advanced technologies, including artificial intelligence and data analytics, has played a significant role in improving measurement accuracy and efficiency.
These factors collectively contribute to the surging growth of the China track geometry measurement system market, positioning it for continued expansion and innovation in the foreseeable future.
The growth outlook for the track geometry measurement system industry in the United States is highly favorable. With ongoing investments in railway infrastructure, the expansion of high-speed rail projects, and a strong emphasis on safety regulations, the demand for accurate track geometry measurements is increasing.
The integration of advanced technologies, such as artificial intelligence and data analytics, is driving improved measurement accuracy and efficiency in TGMS solutions.
The growing recognition of the benefits of proactive maintenance and the need to optimize operational performance are driving the adoption of TGMS in the United States, where the country is predicted to get hold of US$ 920.8 million share by 2033 at 5.1% CAGR from 2023 to 2033.
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The no-contact sub-segment is poised to experience significant growth of 6.2% during the forecasted period. The no-contact sub-segment is expected to be the top operation type in the track geometry measurement system industry as it offers higher measurement accuracy compared to contact-based methods.
By utilizing advanced technologies such as laser scanning and LiDAR, the no-contact approach can capture precise and detailed track geometry data, ensuring better assessment of track conditions.
The no-contact sub-segment minimizes the need for physical contact with the track, reducing wear and tear on both the measurement equipment and the track itself. This leads to lower maintenance costs and extends the lifespan of the infrastructure.
The no-contact approach improves safety by reducing the risks associated with personnel working directly on the tracks. Eliminating the need for workers to be present during measurements helps mitigate potential accidents or disruptions to rail operations.
The hardware sub-segment is poised to lead the industry by component in the track geometry measurement system industry as it plays a pivotal role in enabling accurate and reliable data collection for track geometry measurements.
As per the FMI study, this sub-segment is expected to secure a 6.1% CAGR from 2023 to 2033 owing to the advancements in sensor technologies, which have improved the precision and efficiency of these components, driving their prominence in the industry.
The growing demand for integrated TGMS solutions further emphasizes the need for robust and advanced hardware.
The hardware sub-segment benefits from a continuous market demand due to the periodic upgrades and replacements required for these components, ensuring its sustained leadership in the TGMS industry.
The track geometry measurement system industry exhibits a high level of competition, where market growth and expanding opportunities attract both established players and new entrants, leading to a diverse range of companies offering TGMS solutions.
Technological advancements and innovation play a crucial role in gaining a competitive edge, with companies striving to develop cutting-edge TGMS systems that offer improved accuracy, efficiency, and integration capabilities.
Customer preferences and requirements also drive competition as companies aim to meet evolving demands and provide tailored solutions.
Market players engage in extensive research and development efforts, strategic partnerships, and marketing initiatives to establish their position and differentiate themselves in this competitive landscape.
Recent Developments in the Market:
The global market share is estimated to make a revenue of around US$ 3.4 billion in 2023.
Total sales are projected to create US$ 6.3 billion revenue opportunity by 2033.
Sales of such systems in China could increase at 7.7% per year rate through 2033.
Use of measurement systems over the mass transit railway tracks accounts more than 30% market share.
Advancement in LiDAR technology has boosted this segment to follow 6.2% CAGR through 2033.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Railway Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Railway Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Railway Type, 2023 to 2033
5.3.1. High-Speed Railways
5.3.2. Conventional Railway
5.3.3. Heavy Haul Railways
5.3.4. Light Railways
5.4. Y-o-Y Growth Trend Analysis By Railway Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Railway Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Operation Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Operation Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Operation Type, 2023 to 2033
6.3.1. Contact
6.3.2. No Contact
6.4. Y-o-Y Growth Trend Analysis By Operation Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Operation Type, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Component, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033
7.3.1. Hardware
7.3.1.1. Navigation Equipment
7.3.1.2. Communication Equipment
7.3.1.3. Camera
7.3.1.4. Sensor
7.3.1.5. Others
7.3.2. Software
7.3.3. Services
7.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. MEA
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Railway Type
9.2.3. By Operation Type
9.2.4. By Component
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Railway Type
9.3.3. By Operation Type
9.3.4. By Component
9.4. Key Takeaways
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Railway Type
10.2.3. By Operation Type
10.2.4. By Component
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Railway Type
10.3.3. By Operation Type
10.3.4. By Component
10.4. Key Takeaways
11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. UK
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Europe
11.2.2. By Railway Type
11.2.3. By Operation Type
11.2.4. By Component
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Railway Type
11.3.3. By Operation Type
11.3.4. By Component
11.4. Key Takeaways
12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.1.4. Singapore
12.2.1.5. Thailand
12.2.1.6. Indonesia
12.2.1.7. Australia
12.2.1.8. New Zealand
12.2.1.9. Rest of Asia Pacific
12.2.2. By Railway Type
12.2.3. By Operation Type
12.2.4. By Component
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Railway Type
12.3.3. By Operation Type
12.3.4. By Component
12.4. Key Takeaways
13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. GCC Countries
13.2.1.2. South Africa
13.2.1.3. Israel
13.2.1.4. Rest of MEA
13.2.2. By Railway Type
13.2.3. By Operation Type
13.2.4. By Component
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Railway Type
13.3.3. By Operation Type
13.3.4. By Component
13.4. Key Takeaways
14. Key Countries Market Analysis
14.1. USA
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2022
14.1.2.1. By Railway Type
14.1.2.2. By Operation Type
14.1.2.3. By Component
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2022
14.2.2.1. By Railway Type
14.2.2.2. By Operation Type
14.2.2.3. By Component
14.3. Brazil
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2022
14.3.2.1. By Railway Type
14.3.2.2. By Operation Type
14.3.2.3. By Component
14.4. Mexico
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2022
14.4.2.1. By Railway Type
14.4.2.2. By Operation Type
14.4.2.3. By Component
14.5. Germany
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2022
14.5.2.1. By Railway Type
14.5.2.2. By Operation Type
14.5.2.3. By Component
14.6. UK
14.6.1. Pricing Analysis
14.6.2. Market Share Analysis, 2022
14.6.2.1. By Railway Type
14.6.2.2. By Operation Type
14.6.2.3. By Component
14.7. France
14.7.1. Pricing Analysis
14.7.2. Market Share Analysis, 2022
14.7.2.1. By Railway Type
14.7.2.2. By Operation Type
14.7.2.3. By Component
14.8. Spain
14.8.1. Pricing Analysis
14.8.2. Market Share Analysis, 2022
14.8.2.1. By Railway Type
14.8.2.2. By Operation Type
14.8.2.3. By Component
14.9. Italy
14.9.1. Pricing Analysis
14.9.2. Market Share Analysis, 2022
14.9.2.1. By Railway Type
14.9.2.2. By Operation Type
14.9.2.3. By Component
14.10. China
14.10.1. Pricing Analysis
14.10.2. Market Share Analysis, 2022
14.10.2.1. By Railway Type
14.10.2.2. By Operation Type
14.10.2.3. By Component
14.11. Japan
14.11.1. Pricing Analysis
14.11.2. Market Share Analysis, 2022
14.11.2.1. By Railway Type
14.11.2.2. By Operation Type
14.11.2.3. By Component
14.12. South Korea
14.12.1. Pricing Analysis
14.12.2. Market Share Analysis, 2022
14.12.2.1. By Railway Type
14.12.2.2. By Operation Type
14.12.2.3. By Component
14.13. Singapore
14.13.1. Pricing Analysis
14.13.2. Market Share Analysis, 2022
14.13.2.1. By Railway Type
14.13.2.2. By Operation Type
14.13.2.3. By Component
14.14. Thailand
14.14.1. Pricing Analysis
14.14.2. Market Share Analysis, 2022
14.14.2.1. By Railway Type
14.14.2.2. By Operation Type
14.14.2.3. By Component
14.15. Indonesia
14.15.1. Pricing Analysis
14.15.2. Market Share Analysis, 2022
14.15.2.1. By Railway Type
14.15.2.2. By Operation Type
14.15.2.3. By Component
14.16. Australia
14.16.1. Pricing Analysis
14.16.2. Market Share Analysis, 2022
14.16.2.1. By Railway Type
14.16.2.2. By Operation Type
14.16.2.3. By Component
14.17. New Zealand
14.17.1. Pricing Analysis
14.17.2. Market Share Analysis, 2022
14.17.2.1. By Railway Type
14.17.2.2. By Operation Type
14.17.2.3. By Component
14.18. GCC Countries
14.18.1. Pricing Analysis
14.18.2. Market Share Analysis, 2022
14.18.2.1. By Railway Type
14.18.2.2. By Operation Type
14.18.2.3. By Component
14.19. South Africa
14.19.1. Pricing Analysis
14.19.2. Market Share Analysis, 2022
14.19.2.1. By Railway Type
14.19.2.2. By Operation Type
14.19.2.3. By Component
14.20. Israel
14.20.1. Pricing Analysis
14.20.2. Market Share Analysis, 2022
14.20.2.1. By Railway Type
14.20.2.2. By Operation Type
14.20.2.3. By Component
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Railway Type
15.3.3. By Operation Type
15.3.4. By Component
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. Balfour Beatty
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.2. BENTLEY SYSTEMS, INCORPORATED
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.3. Deutzer Technische Kohle GmbH
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.4. Fugro
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.5. Goldschmidt Thermit GmbH
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.6. MERMEC Inc.
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.7. Plasser & Theurer
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.8. R.Bance & Co Ltd
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.9. Siemens
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.10. Vista Instrumentation LLC
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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Track Geometry Measurement System Market
