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The No Contact Based Track Geometry Measurements System Market is Expected to Witness Significant Growth During Forecast 2024


track geometry measurement system market

The Track Geometry Measurement System Market is expected to be valued at USD 2.8 billion in 2019 and is likely to reach USD 3.7 billion by 2024, at a CAGR of 6.00% during the forecast period. The use of track geometry measurement systems by the companies operating in the railway industry for complying with various standards and regulations is among the key factors driving the TGMS market. Moreover, the high popularity of no contact track geometry measurement system is another factor expected to considerably boost the growth of the said market in the coming years.
Report Objectives
The following are the major objectives of the study.
  • To describe and forecast the track geometry measurement system market, in terms of value, by measurement type, operation type, railway type, and component
  • To describe and forecast the track geometry measurement system market, in terms of value, by region—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To describe and forecast the track video inspection system market
  • To provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
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The TGMS market, by operation type, is segmented into no contact and contact based track geometry measurement systems. The no contact based TGMS market is expected to witness significant growth during the forecast period. The major benefit of this operation type is that it is suitable for high and low speed. Also, it ensures high accuracy with the help of advanced technologies such as imaging technologies and optical laser sensors. Therefore, this type of operation method is gaining popularity for track geometry measurement.
Key players in the TGMS market include ENSCO (US), Fugro (Netherlands), MER MEC (Italy), Balfour Beatty (UK), Plasser & Theurer (Austria), Siemens (Germany), R. Bance & Co. (UK), Bentley Systems (US), Goldschmidt Thermit Group (Germany), and Egis (France). ENSCO is a well-known player in the TGMS market. The company has over 45 years of experience in providing solutions for the railway industry. 
APAC is expected to hold the largest share of the TGMS market in 2019. China, India, and Australia are the key countries contributing to the growth of the TGMS market in APAC. Europe is expected to account for the second-largest share of the TGMS market throughout the forecast period. High-speed railways and mass transit railways are the key application areas of track geometry measurement systems in this region.
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