The market has been expanding due to the rising demand for fast and effective rail networks. In order to improve traffic congestion, the governments of many emerging nations are also making significant investments in the extension of their railway networks, which is increasing the demand for track laying machinery. In addition, technical developments such automated track laying machines are anticipated to further accelerate market growth.
The growing need for railway networks in both developed and emerging nations has resulted in a major growth in the need for track laying equipment. Governments have invested in the expansion of the railroad industry because it offers a safe, effective, and affordable form of transportation. Additionally, the need for new equipment is being driven by the expansion of rail freight services because it improves operational effectiveness.
Utilizing track laying machinery improves operational efficiency and reduces the need for manual labour. These tools are able to carry out tasks more accurately and in less time. Additionally, because these machines are fitted with safety features like automatic speed limiters and sensors, using them lowers the likelihood of accidents.
A mechanical tool called a track laying machine is used to lay, maintain, and repair railroad rails. When compared to human labour, these machines can complete tasks more quickly and accurately because they are often operated by qualified employees. They frequently have safety systems that help lower the likelihood of accidents, like automated speed limiters and sensors.
The market for track laying equipment is anticipated to expand at a CAGR of 5.5% from 2021 to 2031.
The increased need for new railroad tracks, particularly in growing nations like China and India, is responsible for this expansion. Additionally, the market is seeing a growth in the number of infrastructure owners and railway operators that are purchasing new track laying machinery to boost their operating effectiveness.
One of the main factors limiting the market's growth is the high cost of track laying equipment and the shortage of competent workers to operate it.
Additionally, the lengthy lead periods necessary to purchase these machines may hinder market expansion. Additionally, some regulatory measures, such as environmental rules, may have a negative impact on market expansion. However, it is anticipated that there will be prospects for expansion in the near future due to the growing demand for railway networks.
Alstom, Siemens AG, Hitachi Ltd., GE Transportation, China Railway Construction Corporation Limited, and Bombardier Inc. are a few of the industry leaders in track laying equipment. To get a competitive advantage in the market, these businesses are putting their efforts into creating cutting-edge technologies for their goods.
The New Construction Equipment segment to form major portion of the market
Due to the rising need for new railway tracks in developing nations, the new construction equipment category is anticipated to see the largest growth throughout the projection period. This is a result of an increase in government programs including urban transit plans and plans for rail connectivity. Due to the requirement for track upkeep and repairs, the renewal equipment market is also anticipated to expand.
Heavy Rail Segment segment segment to be on top of the market
As there is an increasing need for high-speed and effective railway networks, the heavy rail segment is anticipated to experience the largest growth during the projection period. Due to the increase in projects for urban transportation that call for track laying equipment, the urban rail segment is also anticipated to experience significant development.
Asia Pacific to dominate the market
Due to the increasing need for railway networks in nations like China and India, Asia Pacific is anticipated to experience the fastest growth throughout the forecast period. This is due to an increase in government activities including urban transport plans and rail connectivity plans. Due to the existence of big companies, North America and Europe are also anticipated to experience significant development.
Covid-19 Impact & Market Status
Due to constraints on travel and mobility, the COVID-19 pandemic has had a detrimental impact on the market and decreased demand. In addition, lockdowns and factory shutdowns have caused disruption in the supply chains of manufacturers. However, when governments loosen regulations and permit greater mobility, the industry is anticipated to recover quickly.Additionally, the pandemic has led to a decline in global trade and economic activity, which has also had an impact on the track laying equipment market. The overall impact of the COVID-19 pandemic on the track laying equipment market has been negative, with a decrease in demand and disruptions in production and supply chains. However, as the world begins to recover from the pandemic and economic activity increases, it is likely that the demand for track laying equipment will also begin to recover.
Latest Innovations in the Global Track Laying Equipment Market: A Snapshot
- Alstom purchased Bombardier Transportation in 2019, demonstrating its commitment to bolstering its position in the global rail industry.
- For high speed railways, Siemens AG unveiled a new track laying device called the "Speed."
- The "Flexible Tracklaying System," a new track laying device from Hitachi Ltd., has been launched and is intended for both new construction and track renewal projects.
- The use of automation and remote control technology to improve efficiency and safety during track laying operations.
- The development of track laying machines with increased payload capacity to reduce the number of passes required to lay track.
- The use of specialized track laying equipment for specific applications, such as high-speed rail or urban transit systems.
Track Laying Equipment Market Scope.
|Forecast Unit||Value (USD)|
|Growth Rate||CAGR of 5.5% during 2021-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Alstom, Siemens AG, Hitachi Ltd., GE Transportation, China Railway Construction Corporation Limited, and Bombardier Inc.|
Key Segment of Track Laying Equipment Market
By Type Overview 2021-2031, (USD Billion)
• New Construction Equipment
• Renewal Equipment
By Application Overview 2021-2031, (USD Billion)
• Heavy Rail
• Urban Rail
By Region Overview 2021-2031, (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa