According to a new report, published by KBV research, The Global Track Laying Equipment Market size is expected to reach $818.5 million by 2030, rising at a market growth of 5.6% CAGR during the forecast period.
Track laying equipment significantly improves the efficiency of track installation processes. The precise placement of rails, ties, and ballast is the responsibility of these devices, which significantly decreases the time and labor required for manual installation. The efficiency gains contribute to faster project completion, enabling railways to operational sooner. One of the primary benefits of track laying equipment is its ability to provide precise and accurate track alignment. The advanced technologies integrated into these machines ensure tracks are laid precisely, minimizing deviations, and maintaining the desired geometry. This precision is crucial for trains' safe and smooth operation, reducing the risk of derailments and other operational issues.
The Heavy Rail segment is leading the Global Track Laying Equipment Market, By Application in 2022; thereby, achieving a market value of $519.5 million by 2030. Heavy rail is commonly associated with freight transportation, especially for transporting large volumes of goods over long distances. Expanding heavy freight rail networks necessitates deploying track laying equipment that can install and maintain robust tracks capable of supporting heavy freight trains. Many heavy rail systems are transitioning from traditional diesel-powered locomotives to electric trains to enhance efficiency and sustainability. This shift prompts the demand for track laying equipment supporting electrification initiatives, such as installing overhead catenary systems or third rail configurations.
The Renewal Equipment segment is experiencing a CAGR of 6.9% during (2023 - 2030). Renewal equipment addresses wear and tear in existing railway tracks, contributing to infrastructure longevity. By implementing timely maintenance and rehabilitation measures, renewal equipment helps extend the lifespan of tracks, reducing the frequency of major replacements and ensuring sustained functionality. Renewal equipment is designed for efficiency, enabling quick turnaround times for maintenance and rehabilitation projects. This rapid response is essential for minimizing disruptions to rail services. The ability to perform maintenance activities efficiently contributes to increased overall system availability.
Full Report: https://www.kbvresearch.com/track-laying-equipment-market/
The Asia Pacific region dominated the Global Track Laying Equipment Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $299.1 million by 2030. The Europe region is anticipating a CAGR of 5% during (2023 - 2030). Additionally, The North America region would register a CAGR of 5.4% during (2023 - 2030).
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