Global Track Geometry Measurement System Market size will grow USD 5.48 Billion with a 6.53% CAGR from 2023 to 2032

Track Geometry Measurement System Market Overview

The global track geometry measurement system demonstrates steady growth in the future. The rapid development of rail systems is a key market driver, encouraging the uptake of track geometry measurement systems. Market Research Future (MRFR) confirms that the global Track Geometry Measurement System Market is poised to grow from USD 3.1 BN in 2022 to USD 5.48 BN by 2032, posting a 6.53% CAGR during the assessment period (2023-2032). 

The track geometry measurement system (TGMS) is an automated optoelectronic device used to measure the three-dimensional geometry of track layouts accurately crucial in designing & constructing railway infrastructure. It plays a major role in ensuring the safety and efficiency of railway operations. The growing need to ensure proper maintenance to minimize the risk of derailments or accidents creates significant market demand.

The increasing need for enhanced railway safety and upgrades in railway infrastructure positively influence market growth. Factors bolstering the market size include the increasing demand for efficient and safe railway operations. Additionally, the need for continuous track monitoring & maintenance and government initiatives to renovate railway infrastructure influence the market growth. 

Besides, technological advances and the spurting growth in railway infrastructure & rail manufacturing substantiate the market demand. Also, the growing adoption of advanced geometrical measurement devices escalates the track geometry measurement system market value. The growing demand for high-speed railways in key countries boosts TGMS market revenues. 

Get a PDF Sample Copy: https://www.marketresearchfuture.com/sample_request/7517

Major Players 

Players leading in the market are

• Ensco PLC
• Balfour Beatty PLC
• Fugro N.V.
• Bance & Co.
• Plasser & Theurer
• MERMEC S.p.A
• Egis Group
• Goldschmidt Thermit Group
• Siemens AG
• Deutzer Technische, Bentley Systems Inc.
• Kohle GmbH
• Vista Instrumentation LLC
• KZV, Spol. Sro
• ZG Optique SA
• Trimble Inc.
• Harsco Corporation
• Amberg Technologies AG
• Holland LP
• Rail Vision Europe

Global TGMS Market – Segments

The report is segmented into operation types, measurement types, components, and regions. The operation type segment is sub-segmented into contact and contactless. The measurement type segment is sub-segmented into gauge, curvature, twist cant & cant deficiency, vertical profile, alignment, and dynamic cross-level. 

The component segment is sub-segmented into software, navigation equipment, lighting equipment, communication equipment, power supply equipment, camera, sensor, and data storage & desktop. By region, the track geometry measurement system market is segmented into Europe, North America, APAC, and the rest of the world. 

Track Geometry Measurement System Market – Geographical Analysis

North America dominates the global track geometry measurement system market. Well-established railway infrastructure and stringent safety regulations create substantial market demand. Moreover, technological advancements and increased adoption of automated geometry measurement devices boost the regional market’s growth. Also, rapid urbanization, increasing rail transport investments, and infrastructure development initiatives influence market revenues. 

Buy Premium Research Report Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=7517

Global Track Geometry Measurement System Market – Competitive Analysis 

Highly competitive, the test & measurement equipment market appears fragmented with the strong presence of well-established players. To gain a larger competitive share, industry players adopt mergers & acquisitions, collaborations, and product/technology development strategies. 

Industry/ Innovation/ Related News

April 2023 — ENSCO Rail Inc. announced upgrades in its rail autonomous track geometry measurement system. ENSCO’s rail autonomous track geometry measurement system (ATGMS) is designed to increase network safety. The unmanned rail track geometry measurement system can be installed on locomotives, passenger trains or freight cars. ATGMS is mounted on revenue cars and doesn’t impact rail traffic flow, reducing operational costs. The system also offers significant operational efficiencies for data management and reporting. 

Related Reports:

E-Paper Display Market

Industrial Automation Market

Active Electronic Components Market

Public Cloud Market

Machine Control System market

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Tags: Track Geometry Measurement System Market Scope, Track Geometry Measurement System Market Trends, Track Geometry Measurement System Market share, Track Geometry Measurement System Market Size, Track Geometry Measurement System Market See Campaign: https://www.marketresearchfuture.com/reports/track-geometry-measurement-system-market-7517

Contact Information:

Contact: Market Research Future 99 Hudson Street,5Th Floor New York, New York 10013 United States of America Sales: +1 628 258 0071(US)   +44 2035 002 764(UK) Email: sales@marketresearchfuture.com

Tags:
Research Newswire, English