Global rail inspection car market was valued at 1938 Million US$ in 2018 and is projected to reach 2737 Million US$ by 2024
Rail inspection car is an automated track inspection vehicle on a rail transport system used to test several geometric parameters of the track without obstructing normal railroad operations. Rail Inspection Car emerged in the 1920s when rail traffic became sufficiently dense that manual and visual inspections were no longer practical.
Global rail inspection car market
was valued at 1938 Million US$ in 2018 and is projected to reach 2737 Million US$ by 2024, at a CAGR of 5.92% during the forecast period. The major drivers for the market include increasing need for safety and security in railway transport and growing railway networks and metro lines. In addition, deployment of intelligent and cost-effective techniques in railway drive the growth of this market.
On the basis of railway type, the high-speed railways segment is expected to register the highest growth during the forecast period. High-speed rail is the form of rail transport that operates significantly faster than traditional rail, using an integrated system of specialized rolling stocks and dedicated railway tracks. This type of rail is mostly intended for passenger travel and is considered as one of the safest modes of transportation. These trains normally operate on the railway track having standard track gauge. Various high-speed railway projects have been progressing rapidly worldwide in recent years, creating opportunities for the TGMS market. This is proven to be an efficient transportation mode and stimulate further economic growth by connecting major cities.
Key players in global Rail inspection car market include: Japan Railway Track Consultants, ENSCO, Plasser & Theurer, MERMEC, MRX Technologies, Harsco Rail, CRRC Corporation, TOKIMEC, R. Bance & Co etc.