Los Angeles, January 7, 2020 -QY Research has recently published a report titled, “Global Track Laying Equipment Industry Research Report, Growth Trends and Competitive Analysis 2019-2025” for a forecasted period of 6 years, i.e. between 2019 to 2025. The global Track Laying Equipment market was valued at US$ 416.3 Mn in 2018 and it is likely to reach a US$ 561.3 Mn by 2025. The Track Laying Equipment market is anticipated to exhibit a moderate CAGR of 4.2% from 2019 to 2025.
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The global Track Laying Equipment Market Study: Key Trends
● Railways offering affordable fares with improved commute and convenience facilities along with flourishing tourism in emerging nations is expected to significantly fuel the growth of the global Track Laying Equipment market over the forecasted period
● In developing countries increasing tourism has fueled the growth of railway networks prompting the need of new operational lines by connecting major tourist destinations with reliable and economical transportation on long distant routes, playing a pivotal role in the development of the railway sector
● Increasing trade in developing economies and increasing investment by governments to improve railway lines and to increase freight corridors is expected to propel the demand for the Track laying Equipment. For instance, in 2019 the Indian Railway Ministry announced that the Railways is working on three freight railway corridors on two major routes of Delhi-Mumbai and Delhi-Howrah. Such investments and initiatives from governments are likely to foster the growth of the market
Metro Trains Offer Ease and Convenience: The application segment of the market is categorized into the Urban rail and heavy rail. The urban rail dominated the application segment due to the introduction of metro trains for easing the daily commute of the passengers. This is likely to augment the growth of the Urban Rail segment.
The product type segment is segmented into renewal Equipment and New Construction Equipment. New construction equipment held the largest market in the type segment.
Established Railway Sector to Offer Growth Opportunity in Europe
The established railway sector in Europe with advanced technology and modern train infrastructure is likely to present a lucrative growth opportunity in the future. Huge demand for track laying Equipment due to rapidly developing railway sector in the Asia-Pacific and the procurement of low-cost equipment at a significantly affordable rate from China is expected to boost the growth of the Track Laying Equipment market.
Developing Novel Equipment and Technologies - Key Players Major Strategy
Key players operating in the market are Harsco, CREC, Matisa, Geismar, Salcef Group S.p.A, Weihua, Kirow, and Plasser & Theurer. The market players are involved in offering world-class railway infrastructure and management services. They are also keen to develop novel equipment and technologies, to provide advanced vehicles and equipment to grab new growth opportunities.
The companies are involved in building strategic collaborations to expand geographical presence by undertaking mergers and acquisitions.
For instance, In 2018 Harsco announced the acquisition of ALTEK Group a U.K. based manufacturer of aluminum producers and manufacturers.
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