Railway Infrastructure Maintenance Services Global Market 2024 - Industry Analysis, Future Trends, Segmentation And Key Players
Overview and Scope
Railway infrastructure maintenance
services refer to a range of activities and tasks to ensure the safe,
efficient, and reliable operation of railway infrastructure components. These
services encompass the inspection, repair, upkeep, and rehabilitation of
various railway network elements, including tracks, bridges, tunnels, signaling
systems, and overhead lines. Railway infrastructure maintenance services are
essential for preserving the integrity and functionality of railway assets,
minimizing the risk of accidents, and ensuring the smooth operation of train
services.
Sizing and Forecast
The railway infrastructure
maintenance services market size has grown steadily in recent years. It will
grow from $107.94 billion in 2023 to $112.61 billion in 2024 at a compound
annual growth rate (CAGR) of 4.3%. The growth in the historic period can be
attributed to government investments in the development of railway systems,
especially in emerging economies, stringent regulatory standards, growing
demand for renewal and upgrade of railway components, increasing focus on
routine and corrective maintenance activities, growing need for contractors,
suppliers, and maintenance teams to support the railway infrastructure
maintenance services.
The railway infrastructure
maintenance services market size is expected to see steady growth in the next
few years. It will grow to $135.22 billion in 2028 at a compound annual growth
rate (CAGR) of 4.7%. The growth in the
forecast period can be attributed to expansion of rail networks, increasing
demand for maintenance and refurbishment services, growing government
investments in railway systems, ongoing railway infrastructure development
projects, increasing need for maintenance and refurbishment of railway tracks,
signaling systems, bridges and tunnels. Major trends in the forecast period
include adoption of advanced technologies like the internet of things (IoT),
widespread adoption of digital technologies, technological advancement,
adoption of predictive maintenance analytics, enhancing operational efficiency
and proactive maintenance practices through advanced technologies.
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Segmentation & Regional
Insights
The railway infrastructure
maintenance services market covered in this report is segmented –
1) By Type: Track
Maintenance Services, Signaling Maintenance Services, Railway Civils
Maintenance, Other Types
2) By Deployment Type: On-Premise, Cloud
3) By Application: Renewal,
Maintenance
Asia-Pacific was the largest
region in the railway infrastructure maintenance services market in 2023. The
regions covered in the railway infrastructure maintenance services market
report are Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
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Major Driver Impacting Market
Growth
The expansion of rail networks is
expected to propel the growth of the railway infrastructure maintenance
services market going forward. Rail networks refer to the interconnected system
of railway tracks, infrastructure, and related services that facilitate the
operation of trains, metros, or trams. The expansion of rail networks is due to
accommodating growing transportation needs, alleviating traffic congestion, and
reducing environmental impact. Railway infrastructure maintenance services are
essential to ensure rail networks' safe, efficient, and reliable operation by
addressing wear and damage and ensuring compliance with safety standards. For
instance, in March 2024, according to a report published by Eurostat, a
Luxembourg-based statistical office of the European Union, the European Union
in 2022 recorded the highest proportion of electrified railway lines at 96.7%,
followed by Belgium (88.0%) and Sweden (75.0%), all exceeding the EU average of
56.9%. Further, the Czech Republic boasted the densest railway networks in the
European Union, with 123.3 meters of railway line per square kilometer.
Therefore, the expansion of rail networks is driving the growth of the railway
infrastructure maintenance services market.
Key Industry Players
Major companies operating in the
railway infrastructure maintenance services market are China Railway Construction Corp., Siemens AG,
Deutsche Bahn AG, Russian Railways, BNSF Railway Company, Union Pacific Corp.,
SNCF Voyageurs, Alstom Holdings, CSX Corp., FS Group, Canadian National Railway
Company, Norfolk Southern Corp., East Japan Railway Company, Network Rail
Limited, Central Japan Railway Company, Bombardier Inc., West Japan Railway
Company, Stadler Rail AG, Hyundai Rotem Co., Aurizon Ltd., Škoda Transportation
AS, ProRail, Australian Rail Track Corporation, Talgo SA, TranSystems Corp.
The railway infrastructure
maintenance services market report table of contents includes:
1. Executive Summary
2. Railway Infrastructure
Maintenance Services Market Characteristics
3. Railway Infrastructure
Maintenance Services Market Trends And Strategies
4. Railway Infrastructure
Maintenance Services Market - Macro Economic Scenario
5. Global Railway Infrastructure
Maintenance Services Market Size and Growth
................................
32. Global Railway Infrastructure
Maintenance Services Market Competitive Benchmarking
33. Global Railway Infrastructure
Maintenance Services Market Competitive Dashboard
34. Key Mergers And Acquisitions
In The Railway Infrastructure Maintenance Services Market
35. Railway Infrastructure
Maintenance Services Market Future Outlook and Potential Analysis
36. Appendix
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