The track geometry measurement system market is expected reach USD 3.51 Billion by 2022, at a CAGR of 7.88% between 2016 and 2022.

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The objective of this report is to define, describe, and forecast the market size and growth potential of the track geometry measurement system market across different segments such as measurement type (track gauge, twist, and others), operation type (no contact and contact), railway type (high speed, mass transit, heavy haul, light), and component. It also includes the forecast of the market size, in terms of value, with respect to four main geographies, namely, North America, Europe, APAC, and Rest of the World.

The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the market. It also profiles the key players operating in track geometry measurement system market. The base year considered for this report is 2015, and the forecast period for the market has been considered between 2016 and 2022. The growth of this market is driven by the factors such as increasing need for safety and security in railway transport and growing railway networks and metro lines. The diversified solutions and services such as asset management, rail track gauge inspection and diagnostics, data analysis and management in the railway transit system will create opportunities for the track geometry measurement system market.

The track geometry measurement system includes research and development; component providers such as R. Bance & Co., Ltd. (U.K.), Geismar (France); original design manufacturers such as Ensco, Inc. (U.S.), Fugro (Netherlands), MER MEC S.p.A. (Italy), Balfour Beatty (U.K.), and Egis (France); technology providers such as Plasser & Theurer (Austria), Ensco, Inc. (U.S.), MRX Technologies (Australia); and post-sales service providers such as Goldschmidt Thermit Group (Germany), Rail Vision Europe Ltd. (U.K.).

High-speed railways to lead the overall market

The market for high-speed railways is expected to hold the largest share of the overall market and projected to grow at the highest CAGR between 2016 and 2022. These rails are mostly intended for passenger travel and are considered as one of the safest modes of transportation. The high-speed railway projects have been progressing rapidly worldwide in recent years, creating opportunities for the TGMS market. This is proven to be an efficient transportation mode and stimulate further economic growth by connecting major cities.

The market for gauge measurement systems held the largest share in 2015

The gauge measurement type has a major foothold in the track geometry measurement system market. Track gauges actually vary by country and sometimes within countries as well. Gauge measurement is a basic and key parameter for track geometry measurement to avoid derailment as it decides which rolling stock is compatible with a particular track gauge. The extensive use of gauge measurement system to check this compatibility makes it the largest segment.

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