Focus On Improving Quality and Safety of Existing Rail Networks to Propel Market
The railway sector around the world has expanded at a staggering pace since the Industrial Revolution and as per current observable trends, is showing small signs of slowing down. Over the past few decades, the demand for tailor-made railway systems integrated with advanced technologies has experienced a considerable growth due to which, the railway sector around the globe is staring at a bright future. The significant rise in the number of mining activities around the world, particularly in the developing regions has played an important role in generating demand for railway and freight transportation systems. The positive growth of the railway sector is expected to have a direct impact on the expansion of the tamping machine market.
The demand for tamping machines is expected to grow at a steady pace during the forecast period, as efforts to maximize safety, upgrade the quality of existing railway systems, and prevent railway accidents are in full swing. Governments across the world are investing a notable amount of resources to revamp the existing railway infrastructure and using it as a building block for the future-generation of railway projects. Tamping machines are increasingly being used across the world for the construction of new railway lines and track maintenance activities. With the rise in the number of railway projects in the pipeline mainly in Europe and the Asia Pacific, players operating in the tamping machine market are anticipated to capitalize on these opportunities to generate more revenues.
The rise in the number of railway projects across the world, consistent growth of the mining sector, along with fast-paced industrialization in developing regions, growing emphasis on upgrading the existing railway infrastructure, and construction of new railway lines are some of the leading factors that are likely to steer the global tamping machine market past ~US$ 600 Mn mark by the end of 2027.
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Adoption of Tamping Machines on Rise as Governments Focus on Railway Maintenance Projects during COVID-19
As the COVID-19 pandemic continues to compel governments across the world to impose stringent restrictions on transportation and vehicular movement, railway activity across the world, particularly within the passenger segment, is expected to decline by a considerable margin. However, the inactivity in the passenger train has emerged as a golden opportunity for railway engineers and government authorities to complete pending or scheduled maintenance tasks without causing any inconvenience to the regular schedule.
In addition, several governments are increasingly capitalizing on the lockdown period to complete maintenance of the rail network. Thus, as governments continue to focus on using the current window for maintenance, the adoption of rental or contractual tamping machines is expected to grow at a healthy pace during the COVID-19 pandemic. This is projected to fuel the expansion of the tamping machine market during the forecast period.
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Over the past few years, lean tamping has emerged as a promising tamping technique that is expected to be on the performance-driven maintenance technique. In the current scenario, although the adoption of the lean tamping technique is at the nascent stage, it is projected to gain traction in the upcoming years, owing to the number of short-term and long-term benefits. The demand for leaning tamping is expected to gain momentum, as it sweeps away the need for manual inspection. In addition, as the inspection train’s data is utilized by the tamping machine directly, this process is also likely to improve precision. At the back of these factors, the tamping machine market is anticipated to witness steady growth during the assessment period.
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