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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.
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Major Players
Players leading in the market are
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.
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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.
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