The global tamping machine market is anticipated to reach the volume of 92,696 (in units) by 2027. The tamping machine market is projected to expand at a CAGR of 5% from 2019 to 2027 in terms of volume.
Growth of the tamping machine market can be attributed to rising adoption of tamping machines for railway track geometry degradation, which has triggered their demand globally. Over the forecast period, Europe is anticipated to emerge as the leading tamping machine market, followed by Asia Pacific and North America.
Rising Adoption of Tamping Machines for Railway Track Geometry Degradation
Maintenance of tracks is one of the key requirements for a viable railroad system across the world. Maintaining aging railway networks with a robust and economic maintenance strategy is a crucial task for the government of any country. Thus, railway authorities and governments of various countries are adopting tamping machines to maintain railway tracks, by utilizing data on the network track geometry with available records of maintenance performed.
This is one of the factors driving the tamping machine market. Furthermore, tamping machines help railway authorities to analyze the quality, conditions, and variations of track geometry, in order to check the possible parameters to lessen the consequent stress of increased volume of traffic and frequency of trains. This in turn is accelerating the growth of the tamping machine market across the world. Thus, rising adoption of tamping machines for railway track geometry degradation is expected to have a significant impact on the tamping machine market.
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Tamping Machine: Market Segmentation
The global tamping machine market has been segmented in terms of product type, application, and region. Based on product type, the tamping machine market has been classified into track tamping machines, points and crossing tamping machines, and multi-purpose tamping machines (MPT). Among applications, new railway lines construction segment dominated the global tamping machine market in 2018.
Tamping Machine Market: Regional Outlook
In terms of region, the global tamping machine market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is anticipated to lead the tamping machine market during the forecast period. Germany is estimated to hold a notable share of the market in the Europe region and the market in the country is projected to expand at a CAGR of 5.7% during the forecast period in terms of volume.
Asia Pacific is expected to hold a significant share of the global tamping machine market, accounting for a substantial share in 2019, with India, China, and Japan being the major markets in the region. The tamping machine market in North America, Middle East & Africa, and South America is also projected to increase moderately over the forecast period.
The report provides in-depth segment analysis of the global tamping machine market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the tamping machine market.
Tamping Machine Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global tamping machine market. Key players profiled in the report include CRCC High-Tech Equipment Co., Ltd., Gemac Engineering Machinery Co Ltd, Harsco Corporation, Kalugaputmash, MATISA MATÉRIEL INDUSTRIEL S.A., New Sorema Ferroviaria SpA, Plasser & Theurer, Robel Bahnbaumaschinen Gmbh, Strukton, The Sinara Group, and Loram Maintenance of Way, Inc.