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Global Railway Maintenance Machinery Market 2020-2024
The analyst has been monitoring the global railway maintenance machinery market and it is poised to grow by USD 2.44 bn during 2020-2024, progressing at a CAGR of 10% during the forecast period. Our reports on global railway maintenance machinery market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by increasing number of railway electrification projects.In addition, iot-based remote monitoring of train and tracks is anticipated to boost the growth of the global railway maintenance machinery market as well.
Market Segmentation
The global railway maintenance machinery market is segmented as below:
Product:
o Work Vehicles
o Small Equipment
Geographic Segmentation:
o Europe
o North America
o APAC
o South America
o MEA
Key Trends for global railway maintenance machinery market growth
This study identifies iot-based remote monitoring of train and tracks as the prime reasons driving the global railway maintenance machinery market growth during the next few years.
Prominent vendors in global railway maintenance machinery market
We provide a detailed analysis of around 25 vendors operating in the global railway maintenance machinery market, including some of the vendors such as American Equipment Co., CRCC High-Tech Equipment Corp. Ltd., GEATECH Group Srl, Harsco Corp., Loram Maintenance of Way Inc., Plasser & Theurer Export von Bahnbaumaschinen GmbH, ROBEL Bahnbaumaschinen GmbH, RPM Group, Speno International SA and Strukton .
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.