The European region was the highest revenue contributor in the global railway management system market in 2016, due to its advanced technical aspects, high adoption of IoT, and well equipped with enormous railway infrastructure. Furthermore, the urban transport and highly developed infrastructure in the key countries, such as France, Germany, UK, and Italy, have lured the key vendors into investing in technological development of railway management solutions of these regions. The LAMEA railway management systems market is expected to grow at the highest rate during the forecast period, owing to the unprecedented increase in demand for technological upgrade of railway infrastructure in Africa and South America.
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In 2016 the railway traffic management systems segment accounted for the highest share in the market, and is expected to witness highest growth rate from 2017 to 2023, owing to high demand for rail traffic management such as traffic control, scheduling & planning, routing, signaling, and monitoring. This offers efficient solutions to increase time utilization and network capabilities. Furthermore, it regulates the traffic, offers solutions for disaster management over the network, and reduces possible delays in the operation.
Based on application, the ballast track segment held the dominating market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The non-ballast track segment, on the other hand, is expected to cite the fastest CAGR of 7.0% during the forecast period.
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Based on sales type, the aftermarket sales segment held the largest market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 6.8% during the forecast period.
Based on product type, the tamping machine market held the largest market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The report also analyses other segments of the market such as stabilizing machinery, rail handling machinery, ballast cleaning machine, and others.
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Based on region, the market across Europe held the largest market share in 2021, holding two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 8.9% during the forecast period.
The key players include China Railway Construction Corporation Limited (CRCC High-Tech Equipment Corporation Limited.), CRRC Corporation Limited, System7 Rail Holding GmbH, Harsco Corporation, MER MEC S.p.A., Geatech Group Srl, Plasser & Theurer, Export von Bahnbaumaschinen, Gesellschaft m.b.H., SinaraTransport Vehicles, Fluor Corporation (American Equipment Company, Inc.), and Coril Holdings Ltd. (Loram Maintenance of Way, Inc.).
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Key Findings of the Railway Management System Market:
- The services segment accounted for the highest share in the global railway management system industry in 2016, growing at a CAGR of 16.1% from 2017 to 2023.
- The railway management system solutions market is projected to grow at the highest growth rate of 17.2%.
- The European market generated the highest share of $8,233 million, in terms of revenue, in 2016.
- The railway traffic management system segment accounted for the highest share of revenue in 2016, and is expected to witness the highest growth rate during the forecast period.
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