BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Asia-Pacific railway maintenance machinery market size to grow at a steady CAGR of 8.4% during the forecast period between 2023 and 2029. Major factors for the expansion of Asia-Pacific railway maintenance machinery market include improvements in railway infrastructure, particularly in developing nations and increasing governments investment in repairing existing railway tracks to give a secure, safe, and efficient travel experience to the people. The increasing number of incidents and train derailments is propelling market expansion. Maintenance work on a regular basis assist in avoiding such incidents and reduce the loss of life and property damage. Maintenance work on a regular basis assist in avoiding such incidents and reduce the loss of life and property. In accordance with this, the increased use of electric trains in favor of gasoline-powered trains is spurring demand for railway maintenance equipment. Other factors, such as increasing urbanization and the implementation of favorable government regulations, are expected to propel the market forward. However, decline in machinery manufacturing amid COVID-19 and high machinery cost are anticipated to limit the growth of Asia-Pacific Railway Maintenance machinery market during the period in analysis.
Asia-Pacific Railway Maintenance Machinery Market – Overview
Railway maintenance is the procedure of keeping a railroad track operational. In railway maintenance, tampers, ballast regulators, dynamic track stabilizers, ballast cleaners, and ballast under cutters are utilized. They are primarily utilized inspecting, repairing, and maintaining railway rails to ensure smooth operation and extended operational life. They are also used to maintain the vertical and horizontal alignment of railway lines mechanically. The equipment can be employed on both ballast and non-ballast tracks to elevate the sleeper and pack the ballast, preventing abrasion, distortion, geometry change, and damage to various track components.
Asia-Pacific Railway Maintenance Machinery Market – Opportunity
Numerous manufacturers of railway maintenance equipment are integrating internet connectivity and the internet of things into their products. The equipment are more technologically advanced than conventional railway maintenance machines. An approach based on the Internet of Things (IoT) assists the railway industry in reducing downtime and completing more work. Using IoT technologies aids in tracking. Rail infrastructure and IoT technology have also been improved to make railway systems work more efficiently.
Asia-Pacific Railway Maintenance Machinery Market – By Product Type
Based on product type, Asia-Pacific railway maintenance machinery market is divided into Machinery Tamping Machine, Stabilizing Machinery, Rail Handling Machinery, and Ballast Cleaning Machine segments. The machinery tamping machine segment held the highest market share and is expected to continue leading the market during the period in analysis. Tamping machines are employed for railway and road maintenance. It is used to load track ballast beneath railway tracks. Tamping machines are economical because they work faster, reduce time and track maintenance costs, and boost track speed. The ballast cleaning machine holds the second highest market share. A ballast cleaning machine is used to remove debris and filth from the rails. The ballast cleaning equipment is utilized for railway road line projects such as switches, crossings, and plain tracks. The growing interest in installing multiple diesel-electric units and electric-powered diesel locomotives is likely to boost market growth. Several leading companies sell high-quality ballast cleaning machines.
Impact of COVID-19 on Asia-Pacific Railway Maintenance Machinery Market
COVID-19 had a detrimental effect on Asia-Pacific Railway maintenance machinery market because of the imposition of severe regulatory demands enforced by governments around the world especially across the Asia-Pacific region. The government imposes strong social distancing regulations to considerably slow the spread of the virus during the pandemic. There was a prohibition on all modes of transportation, including buses, trains, and flights, which hampered market growth. All freight and logistical services were ceased, which reduced track maintenance. However, the market is likely to recover as travel restrictions are relaxed and investment in better train infrastructure increases.
Asia-Pacific railway maintenance machinery market is fiercely competitive. Major companies in the market include China Railway Construction Corporation Limited, CREC, system7 rail holding GmbH, MER MEC S.p.A., Fluor Corporation, Beijing YHD Railway Equipment, TOKYO KEIKI, NINGENMURA COMPANY, Plasser India, SAMPYO GROUP, YUJIN Rollingstock Ltd., and Maquivías. To further enhance their market share, these players are primarily focused on the development of innovative and efficient products, new product releases, market initiatives, mergers and acquisitions, and other collaborative activities.
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