The global track digital axle counter market size was valued at $3,45,200.2 thousand in 2022 and is projected to reach $9,03,527.2 thousand by 2032, registering a CAGR of 10.1% from 2023 to 2032. Track digital axle counters are railway signaling equipment, which primarily consists of axle sensors, and evaluator along with some other devices. The axle sensor senses the passing of wheels on the track and the evaluator, along with other devices, counts and analyses the data. Track digital axle counter helps in precisely analyzing the presence of the train in a section.
Track digital counter is a relatively newer technology used for the signaling for the railways. Prior to this technology, track circuits were prevalent. Track circuits are susceptible to adverse weather conditions, such as snow, rain, and extreme temperatures. Accumulation of snow or water on the track can interfere with ability of the circuit to detect trains accurately. In addition, traditional track circuits can only provide train detection at specific points along the track. Such vulnerabilities have been addressed in digital axle counters, as they are easy to install, and process a large volume of information which is useful for the train controllers. Owing to the superiority of digital axle counters over other comparable technologies, it propels its demand among rail operators. Furthermore, the expansion of railway infrastructure in various countries caters to the increase in requirement of efficient and affordable transportation of goods as well as passengers over short and longer distances.
However, the high initial cost of digital axle trackers and complex maintenance hinder the growth of the market. Furthermore, advancement in technology pertaining to digital axle counters is anticipated to provide lucrative opportunities for the growth of the track digital axle counter market.
Moreover, the price of oil & gas and the price of raw materials have experienced increased volatility globally, due to an economic downfall in major countries mainly driven by Ukraine-Russia war. This has led to slow-paced growth of the track digital axle counter market and its related industries.
The track digital axle counter market is segmented on the basis of component, application, and region. On the basis of component, the market is bifurcated into wayside axle counter, and on-rail axle counter. On the basis of application, it is bifurcated into railway, and urban rail transit. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, the UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
In-depth track digital axle counter market analysis is conducted by constructing market estimations for key market segments between 2022 and 2032.
Extensive analysis of the track digital axle counter market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The track digital axle counter market revenue and volume forecast analysis from 2023 to 2032 is included in the report.
The key players within the track digital axle counter market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the track digital axle counter industry.
Track digital counter is a relatively newer technology used for the signaling for the railways. Prior to this technology, track circuits were prevalent. Track circuits are susceptible to adverse weather conditions, such as snow, rain, and extreme temperatures. Accumulation of snow or water on the track can interfere with ability of the circuit to detect trains accurately. In addition, traditional track circuits can only provide train detection at specific points along the track. Such vulnerabilities have been addressed in digital axle counters, as they are easy to install, and process a large volume of information which is useful for the train controllers. Owing to the superiority of digital axle counters over other comparable technologies, it propels its demand among rail operators. Furthermore, the expansion of railway infrastructure in various countries caters to the increase in requirement of efficient and affordable transportation of goods as well as passengers over short and longer distances.
However, the high initial cost of digital axle trackers and complex maintenance hinder the growth of the market. Furthermore, advancement in technology pertaining to digital axle counters is anticipated to provide lucrative opportunities for the growth of the track digital axle counter market.
Moreover, the price of oil & gas and the price of raw materials have experienced increased volatility globally, due to an economic downfall in major countries mainly driven by Ukraine-Russia war. This has led to slow-paced growth of the track digital axle counter market and its related industries.
The track digital axle counter market is segmented on the basis of component, application, and region. On the basis of component, the market is bifurcated into wayside axle counter, and on-rail axle counter. On the basis of application, it is bifurcated into railway, and urban rail transit. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, the UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competition Analysis
Key companies profiled in the track digital axle counter market report include ALTPRO, CLEARSY, Eldyne Electro Systems Pvt. Ltd., Frauscher Sensor Technology Group, Schaltbau Holding AG, Voestalpine AG, Siemens AG, Thales Group, Applied Electro Magnetics, G.G.Tronics India Pvt. Ltd., HBL Power Systems Ltd, Kernex Microsystems (India) Ltd., Central Electronics Ltd., Scheidt and Bachmann GmbH, Alstom SA (Alstom Transport India Limited), Medha Servo Drives Private Limited, Lab to Market Innovations Private Limited, Ircon International Limited, Argenia Railway Technologies, and Nippon Signal Co., Ltd. (Nippon Signal India Private Limited). The major players that operate in the global market are constantly innovating their offerings and collaborating with railway companies to sustain the stiff competition in the market.Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging track digital axle counter market trends.In-depth track digital axle counter market analysis is conducted by constructing market estimations for key market segments between 2022 and 2032.
Extensive analysis of the track digital axle counter market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The track digital axle counter market revenue and volume forecast analysis from 2023 to 2032 is included in the report.
The key players within the track digital axle counter market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the track digital axle counter industry.
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Key Market Segments
By Component
- Wayside Axle Counter
- On-rail Axle Counter
- Type
- Single Section Digital Axle Counter
- Multi Section Digital Axle Counter
By Application
- Railway
- Type
- Heavy Rail
- Light Rail
- Urban Rail Transit
- Type
- Metro
- Trams
By Region
- North America
- U.S.
- Canada
- Mexcio
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- ALTPRO
- Schaltbau Holding AG
- Siemens AG
- Eldyne Electro Systems Pvt. Ltd.
- Voestalpine AG
- Applied Electro Magnetics
- CLEARSY
- Scheidt and Bachmann GmbH
- Alstom SA (Alstom Transport India Limited)
- Medha Servo Drives Private Limited
- Ircon International Limited
- Lab to Market Innovations Private Limited
- Thales Group
- G.G.Tronics India Pvt. Ltd.
- Central Electronics Ltd.
- HBL Power Systems Ltd
- Argenia Railway Technologies
- Kernex Microsystems (India) Ltd.
- Frauscher Sensor Technology Group
- Nippon Signal Co., Ltd. (Nippon Signal India Private Limited)
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: TRACK DIGITAL AXLE COUNTER MARKET, BY COMPONENT
CHAPTER 5: TRACK DIGITAL AXLE COUNTER MARKET, BY APPLICATION
CHAPTER 6: TRACK DIGITAL AXLE COUNTER MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the track digital axle counter market was valued at $345.2 million in 2022, and is estimated to reach $903.5 million by 2032, growing at a CAGR of 10.1% from 2023 to 2032. A track digital axle counter is a railway signaling system designed to detect and count the number of axles on passing trains. This system ensures accurate and reliable information about the occupancy of a specific section of railway track.Key factors driving the growth of the track digital axle counter market include growth in railway infrastructure, rise in safety concerns, and superiority of digital axle counters. Railway safety is a paramount concern in the transportation industry, and the implementation of advanced technologies has played a crucial role in achieving and maintaining a high level of safety standards. One such technology making significant contributions to railway safety is the digital axle counter (DAC). Digital Axle Counters provide highly accurate train detection, reducing the risk of signalling errors and enhancing the overall safety of railway operations. Moreover, it helps in reducing Signal Passing at Danger (SPAD). SPAD incidents, where a train passes a stop signal, pose a significant threat to safety. DACs contribute to the prevention of SPAD incidents by ensuring precise information about the location of trains on the track. For example, the implementation of track circuiting works, provision of block-proving axle counters, data loggers, and other systems, is expected to help Indian Railways eliminate or greatly reduce the probability of train collisions and consequent deaths. Block proving by axle counters is anticipated to prevent collisions in the block sections due to some parted load being left out. Axle counters eliminate or greatly reduce human intervention in railway signalling; thereby, making train transport safer. Thus, rise in safety concerns among railways have driven the demand for digital axle counters.
Moreover, frequent development of new technologies has become an unsaid norm across industries. In railway sector the implementation of industry 4.0 technologies which includes IoT, AI, ML, and others have played an important role in making rail transport safer. Furthermore, Lab to Market Innovations Private Limited, an India-based innovating company in the railway sector is a leader in Fibre Brag Grating (FBG) sensing technology, which it uses in its digital axle counter offering. Moreover, iniTECH Industrial, a solution provider associated with GE Vernova and specializing in train system integration, has devised a communication solution. This solution facilitates the integration of axle counters, including those from Frauscher, into central monitoring and diagnostic systems based on CIMPLICITY. This integration is expected to help in improving the abilities of railway authorities to proactively detect any problems, and resolve them before they happen, from their central control room. It is anticipated to help in increasing safety, delivering more reliable on-time service, and achieve greater operations efficiency. Thus, owing to such benefits of integrating advanced and latest technologies with digital axle counters are anticipated to provide lucrative growth opportunities to the market players.
The track digital axle counter market is segmented on the basis of component, application, and region. On the basis of component, the market is bifurcated into wayside axle counter, and on-rail axle counter. On the basis of application, it is bifurcated into railway, and urban rail transit. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, the UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competitive analysis and profiles of the major players in the track digital axle counter market are provided in the report. Major companies in the report include ALTPRO, CLEARSY, Eldyne Electro Systems Pvt. Ltd., Frauscher Sensor Technology Group, Schaltbau Holding AG, Voestalpine AG, Siemens AG, Thales Group, Applied Electro Magnetics, G.G.Tronics India Pvt. Ltd., Kernex Microsystems (India) Ltd., HBL Power Systems Ltd, Central Electronics Ltd., Scheidt and Bachmann GmbH, Alstom SA (Alstom Transport India Limited), Medha Servo Drives Private Limited, Lab to Market Innovations Private Limited, Ircon International Limited, Argenia Railway Technologies, and Nippon Signal Co., Ltd. (Nippon Signal India Private Limited). Major players to remain competitive offer a wide range of innovative track digital axle counters. Moreover, in December 2021, ProRail, the entity responsible for managing rail infrastructure in the Netherlands, granted Thales an eight-year contract to supply the generic axle counter system for railway lines equipped with ERTMS (European Rail Traffic Management System). The European Rail Traffic Management System is the system of standards for the management and interoperation of signaling for railways by the European Union.
Key Market Insights
By component, the on-rail axle counter segment was the highest revenue contributor to the market and is estimated to reach $8,09,159.9 thousand by 2032, with a CAGR of 10.1%.By application, the railway segment dominated the global market. However, the urban rail transit segment is expected to be the fastest-growing segment with a CAGR of 10.4% during the forecast period.
Based on region, Europe garnered the largest revenue share in 2022, and Asia-Pacific is anticipated to grow at the highest CAGR of 12.2% during the forecast period.
Companies Mentioned
- ALTPRO
- Schaltbau Holding AG
- Siemens AG
- Eldyne Electro Systems Pvt. Ltd.
- Voestalpine AG
- Applied Electro Magnetics
- CLEARSY
- Scheidt and Bachmann GmbH
- Alstom SA (Alstom Transport India Limited)
- Medha Servo Drives Private Limited
- Ircon International Limited
- Lab to Market Innovations Private Limited
- Thales Group
- G.G.Tronics India Pvt. Ltd.
- Central Electronics Ltd.
- HBL Power Systems Ltd
- Argenia Railway Technologies
- Kernex Microsystems (India) Ltd.
- Frauscher Sensor Technology Group
- Nippon Signal Co., Ltd. (Nippon Signal India Private Limited)
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | October 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 345200.2 thousand |
| Forecasted Market Value ( USD | $ 903527.2 thousand |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 20 |
