Global railway maintenance machinery market is expected to increase to 5.98 Billion USD by 2022

Author: QYResearch  |   Published Date: 2018-05-16   |   Views: 257

Publisher: QYResearch

Published Date: 2018-05-16


QYResearch analysts predict that the global Railway Maintenance Machinery market is expected to reach $5984.14 million by 2022 from $3.90 billion in 2016, growing at a CAGR of 7.39 % from 2016 to 2022. Major factors driving growth of this market include the increasing mileage of Railways opened to traffic, the upgrading of railway system demands higher requirements and increasing market demand in emerging economies, growth impetus of Labor cost, and shift towards maintenance machine systems. However, high cost of instruments, lack of reimbursement especially in emerging economies, and lack of technicians are expected to restrain the growth of this market.

Asia-Pacific market is expected to become the fastest growing market, increasing product availability is the key point. Asia-Pacific is poised to grow at the highest CAGR during the forecast period owing to rising mileage of Railways opened to traffic, increasing disposable income in this region, and rising focus of prominent players on the APAC market increasing product availability.

At the perspective of key manufacturers, Plasser & Theurer owns the highest market share of Global Railway Maintenance Machinery, and its production was 223 units and the market share was 5% in 2012, and it has reached be 334 units and 4.6% in 2017. Which totally presents that, the whole global market concentration level is not high. With the development of railway, the market will be keeping grow in the future, huge profits would also offer to leading manufacturers as soon as they possess the advanced technology of Railway Maintenance Machinery.

The product average price declined in the past few years due to the technology development, the average price will keep this trend in the few future years due to increasing mature manufacturing technology and lowing cost of raw materials. Strong market competition is resulting in annual 1-6 percent price erosion. 

The Global Railway Maintenance Machinery Market Research Report 2017 report released by QYResearch provides a basic overview of the Railway Maintenance Machinery industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans as well as manufacturing processes and cost structures.

The report then focuses on major industry players in Global, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the Railway Maintenance Machinery industry development trends and marketing channels were analyzed. Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.

Click to view the full report:https://www.qyresearch.com/index/detail/183412/global-railway-maintenance-machinery-market
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