Global Railway Maintenance Machinery Market 2018-2022| IoT-based Remote Monitoring Boosts Growth| Technavio
LONDON--(BUSINESS WIRE)--Oct 2, 2018--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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Technavio has published a new market research report on the global railway maintenance machinery market for the period 2018-2022. (Graphic: Business Wire)
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 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.
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.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: TRANSPORT RAIL MANUFACTURING ENGINEERING
SOURCE: Technavio Research
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PUB: 10/02/2018 12:50 PM/DISC: 10/02/2018 12:50 PM