The Asia Pacific Track Geometry Measurement System Market would witness market growth of 6.6% CAGR during the forecast period (2022-2028).
The necessity for long-distance rail travel is already rising in many nations. This rise is anticipated to continue as the high-speed rail networks continue to grow in regions like Asia. Commercial high-speed railway lines are anticipated to move at speeds of up to 300 km/h, enabling these trains to cover up to 1,000 km in only 5 to 7-hour travel. Similarly, high-speed lines are also being constructed for express freight.
According to predictions made by rail experts, these infrastructures will generate significant earnings that will encourage investments in the industry to help cover the costs of construction and relieve pressure on public budgets. Additionally, the demand for transportation is changing at a rapid rate as a result of lifestyle changes and demographic evolution.
Moreover, owing to the increased public expenditure on health care services, the number of elderly people (particularly those aged 80 or older) is continually rising in industrialized countries. Since the elderly use trains more frequently, especially for long-distance travel and in cities, this will propel the pace of railway expansion, which in turn, will benefit the market.
The ballast tracks can be frequently observed all around the Australia. However, it has been discovered that the ballast tracks are ineffective at carrying heavier and quicker trains that travel through various sections of the nation. According to the engineers' observations, these ballast tracks need to be redesigned and optimized for the transportation of infrastructure. As a result, the national government has initiated widescale renovation projects that need inspection and measurement tools, and hence raise the demand for TGMS. Such vast advancements in the railway sector across the region are promoting the growth of the track geometry measurement system market.
The China market dominated the Asia Pacific Track Geometry Measurement System Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $469.4 Million by 2028. The Japan market is estimated to grow a CAGR of 6% during (2022 - 2028). Additionally, The India market would experience a CAGR of 7.2% during (2022 - 2028).
Based on Component, the market is segmented into Hardware, Software, and Services. Based on Operation, the market is segmented into Contact and Contactless. Based on Railway Type, the market is segmented into Mass Transit Railways, High-Speed Railways, Heavy Haul Railways, and Light Railways. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Balfour Beatty Plc, Bentley Systems, Inc., Egis Group, Fugro N.V., Trimble, Inc., ENSCO, Inc., E.S.I.M. Group, Plasser & Theurer, and MER MEC S.p.A. (Angel Company).
The necessity for long-distance rail travel is already rising in many nations. This rise is anticipated to continue as the high-speed rail networks continue to grow in regions like Asia. Commercial high-speed railway lines are anticipated to move at speeds of up to 300 km/h, enabling these trains to cover up to 1,000 km in only 5 to 7-hour travel. Similarly, high-speed lines are also being constructed for express freight.
According to predictions made by rail experts, these infrastructures will generate significant earnings that will encourage investments in the industry to help cover the costs of construction and relieve pressure on public budgets. Additionally, the demand for transportation is changing at a rapid rate as a result of lifestyle changes and demographic evolution.
Moreover, owing to the increased public expenditure on health care services, the number of elderly people (particularly those aged 80 or older) is continually rising in industrialized countries. Since the elderly use trains more frequently, especially for long-distance travel and in cities, this will propel the pace of railway expansion, which in turn, will benefit the market.
The ballast tracks can be frequently observed all around the Australia. However, it has been discovered that the ballast tracks are ineffective at carrying heavier and quicker trains that travel through various sections of the nation. According to the engineers' observations, these ballast tracks need to be redesigned and optimized for the transportation of infrastructure. As a result, the national government has initiated widescale renovation projects that need inspection and measurement tools, and hence raise the demand for TGMS. Such vast advancements in the railway sector across the region are promoting the growth of the track geometry measurement system market.
The China market dominated the Asia Pacific Track Geometry Measurement System Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $469.4 Million by 2028. The Japan market is estimated to grow a CAGR of 6% during (2022 - 2028). Additionally, The India market would experience a CAGR of 7.2% during (2022 - 2028).
Based on Component, the market is segmented into Hardware, Software, and Services. Based on Operation, the market is segmented into Contact and Contactless. Based on Railway Type, the market is segmented into Mass Transit Railways, High-Speed Railways, Heavy Haul Railways, and Light Railways. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Balfour Beatty Plc, Bentley Systems, Inc., Egis Group, Fugro N.V., Trimble, Inc., ENSCO, Inc., E.S.I.M. Group, Plasser & Theurer, and MER MEC S.p.A. (Angel Company).
Scope of the Study
Market Segments Covered in the Report:
By Component
- Hardware
- Software
- Services
By Operation
- Contact
- Contactless
By Railway Type
- Mass Transit Railways
- High-Speed Railways
- Heavy Haul Railways
- Light Railways
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Siemens AG
- Balfour Beatty Plc
- Bentley Systems, Inc
- Egis Group
- Fugro N.V
- Trimble, Inc
- ENSCO, Inc
- E.S.I.M. Group
- Plasser & Theurer
- MER MEC S.p.A. (Angel Company)
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Track Geometry Measurement System Market, by Component
1.4.2 Asia Pacific Track Geometry Measurement System Market, by Operation
1.4.3 Asia Pacific Track Geometry Measurement System Market, by Railway Type
1.4.4 Asia Pacific Track Geometry Measurement System Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Asia Pacific Track Geometry Measurement System Market by Component
3.1 Asia Pacific Hardware Market by Country
3.2 Asia Pacific Software Market by Country
3.3 Asia Pacific Services Market by Country
Chapter 4. Asia Pacific Track Geometry Measurement System Market by Operation
4.1 Asia Pacific Contact Market by Country
4.2 Asia Pacific Contactless Market by Country
Chapter 5. Asia Pacific Track Geometry Measurement System Market by Railway Type
5.1 Asia Pacific Mass Transit Railways Market by Country
5.2 Asia Pacific High-Speed Railways Market by Country
5.3 Asia Pacific Heavy Haul Railways Market by Country
5.4 Asia Pacific Light Railways Market by Country
Chapter 6. Asia Pacific Track Geometry Measurement System Market by Country
6.1 China Track Geometry Measurement System Market
6.1.1 China Track Geometry Measurement System Market by Component
6.1.2 China Track Geometry Measurement System Market by Operation
6.1.3 China Track Geometry Measurement System Market by Railway Type
6.2 Japan Track Geometry Measurement System Market
6.2.1 Japan Track Geometry Measurement System Market by Component
6.2.2 Japan Track Geometry Measurement System Market by Operation
6.2.3 Japan Track Geometry Measurement System Market by Railway Type
6.3 India Track Geometry Measurement System Market
6.3.1 India Track Geometry Measurement System Market by Component
6.3.2 India Track Geometry Measurement System Market by Operation
6.3.3 India Track Geometry Measurement System Market by Railway Type
6.4 South Korea Track Geometry Measurement System Market
6.4.1 South Korea Track Geometry Measurement System Market by Component
6.4.2 South Korea Track Geometry Measurement System Market by Operation
6.4.3 South Korea Track Geometry Measurement System Market by Railway Type
6.5 Singapore Track Geometry Measurement System Market
6.5.1 Singapore Track Geometry Measurement System Market by Component
6.5.2 Singapore Track Geometry Measurement System Market by Operation
6.5.3 Singapore Track Geometry Measurement System Market by Railway Type
6.6 Malaysia Track Geometry Measurement System Market
6.6.1 Malaysia Track Geometry Measurement System Market by Component
6.6.2 Malaysia Track Geometry Measurement System Market by Operation
6.6.3 Malaysia Track Geometry Measurement System Market by Railway Type
6.7 Rest of Asia Pacific Track Geometry Measurement System Market
6.7.1 Rest of Asia Pacific Track Geometry Measurement System Market by Component
6.7.2 Rest of Asia Pacific Track Geometry Measurement System Market by Operation
6.7.3 Rest of Asia Pacific Track Geometry Measurement System Market by Railway Type
Chapter 7. Company Profiles
7.1 Siemens AG
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
7.1.5.1 Partnerships, Collaborations, and Agreements:
7.1.6 SWOT Analysis
7.2 Balfour Beatty Plc
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.3 Bentley Systems, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 Recent strategies and developments:
7.3.5.1 Acquisition and Mergers:
7.4 Egis Group
7.4.1 Company Overview
7.4.2 Financial Analysis
7.5 Fugro N.V.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expenses
7.6 Trimble, Inc.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expense
7.7 ENSCO, Inc.
7.7.1 Company Overview
7.7.2 Recent strategies and developments:
7.7.2.1 Acquisition and Mergers:
7.8 E.S.I.M. Group
7.8.1 Company Overview
7.9 Plasser & Theurer
7.9.1 Company Overview
7.10. MER MEC S.p.A. (Angel Company)
7.10.1 Company Overview
Companies Mentioned
- Siemens AG
- Balfour Beatty Plc
- Bentley Systems, Inc.
- Egis Group
- Fugro N.V.
- Trimble, Inc.
- ENSCO, Inc.
- E.S.I.M. Group
- Plasser & Theurer
- MER MEC S.p.A. (Angel Company)
Methodology
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