Global Railway Maintenance Machinery Market 2018-2022| IoT-based Remote Monitoring Boosts Growth| Technavio

The global railway maintenance machinery market research report by Technavio predicts the market to post a CAGR of more than 9% during the period 2018-2022.

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A key driver for the global railway maintenance machinery market is the increasing number of railway electrification projects. Electric trains are more economical when compared with fuel-powered trains. Thus, there is an increase in the number of railway electrification projects across the globe. The major factors promoting the growth of electric engines are the significant reduction in the emission while transiting and the faster acceleration and deceleration of the engines when compared with diesel engines.

This global railway maintenance machinery market research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2018-2022. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the IoT-based remote monitoring of train and tracks will be one of the key trends in the global railway maintenance machinery market:

Global railway maintenance machinery market: IoT-based remote monitoring of train and tracks

The growing adoption of Internet and IoT across several industries has proven beneficial as it helps in increasing the operational efficiency of the entire business process. Each railway network consists of several components including stations and staff and these components must work coherently for the efficient functioning of the railway network. The adoption of IoT technologies with analytics helps in managing these components efficiently.

“One of the key benefits offered by the adoption of IoT in the global railway maintenance machinery market is preventive maintenance. The increasing adoption of IoT allows the deployment of sensors across trains and tracks. These sensors send data points to the cloud in real time to adopt a more proactive stance toward railway maintenance,” says a senior analyst at Technavio for research on engineering tools.

Global railway maintenance machinery market: Segmentation analysis

This railway maintenance machinery market analysis report segments the market by product (work vehicles and SE), by application (ballast track and ballastless track), and geography (the Americas, APAC, and EMEA).

The work vehicles segment held the largest railway maintenance machinery market share in 2017, accounting for over 78% of the market. This product segment is expected to dominate the global market throughout the forecast period.

EMEA led the market in 2017 with approximately 49% of the market share, followed by the Americas and APAC, respectively. EMEA is expected to dominate the market throughout the period 2018-2022.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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