Global Railway Track Alignment Design Services Market Size By Rail Type (Heavy Rail, HSR (High Speed Rail), Metros, Light Rail, Rapid Bud Transit), And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Railway Track Alignment Design Services Market Size By Rail Type (Heavy Rail, HSR (High Speed Rail), Metros, Light Rail, Rapid Bud Transit), And Forecast
Railway Track Alignment Design Services Market Size And Forecast
Railway Track Alignment Design Services Market size was valued at USD 5,200.75 Million in 2021 and is projected to reach USD 6,758.75 Million by 2030, growing at a CAGR of 3.03% from 2023 to 2030.
The introduction of the Hyperloop will create substantial opportunities in the railway track alignment design services market. The Global Railway Track Alignment Design Services Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Railway Track Alignment Design Services Market Definition
Getting the rail track alignment design right is key to making any rail project a success. A well-designed alignment can really draw in passengers and transportation companies because it leads to better, more efficient train schedules. The World Bank reported back in 2017 that there were around 1500 rail infrastructure projects happening or planned globally, adding up to over $2 trillion and covering about 140,000 km! Of those, a big chunk (around 30%, or 57,000 km) are major heavy rail projects. What's more, most of these rail projects – almost 85% of the ones underway or coming up – are happening in middle and low-income countries, with Asian countries making up more than half of that number.
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Global Railway Track Alignment Design Services Market Overview
Railway freight services brings several advantages over the conventional transport modes such as road and air freight services due to its cost saving and reliable nature. However, over the past couple of decades the reliability of the rail transport has been volatile due to the adverse environmental conditions and rapid atmospheric changes. The bad weathers and heavy snow falls across the European economies have been impacted in terms of overall rail transport activities. That has somehow restricted the rail infrastructure growth across the respective countries.
But things are really taking off in Asia and the Middle East! Their economies are booming, and they're responsible for over half of the world's railway construction these days. Rail alignment design services are super important in making all this happen. And get this – the Hyperloop is going to create even more opportunities in the railway track alignment design market! Hyperloop Transportation Technologies (HTT) was the first to jump on board. You've probably heard about their big project in Abu Dhabi, connecting it with Al Ain and Dubai. Founded by Dirk Ahlborn and Bibop Gresta, HTT is currently developing four different prototypes, and the first section should be up and running by 2023. They're also working on other projects in Hamburg, Germany, the Great Lakes region of North America, and even Toulouse, France, where they started building a test tunnel back in 2017.
Global Railway Track Alignment Design Services Market Segmentation Analysis
The Global Railway Track Alignment Design Services Market is segmented based on Rail Type, and Geography.
Railway Track Alignment Design Services Market, By Rail Type
Heavy Rail
HSR (High Speed Rail)
Metros
Light Rail
Rapid Bud Transit
Autonomous Vehicles on Dedicated Lanes
Hyperloop
To Get a Summarized Market Report By Rail Type-
When we look at different Rail Types, the market breaks down into categories like Heavy Rail, HSR, Metros, Light Rail, Rapid Bus Transit, Autonomous Vehicles on Dedicated Lanes, and even the futuristic Hyperloop. In 2021, Heavy Rail was the dominant player, grabbing the largest slice of the pie at 39.81%, which translates to a whopping USD 2,070.56 Million. Experts think it will continue to grow at a rate of 2.16% over the coming years. HSR (High Speed Rail) came in second place, with a market value of USD 1,268.47 Million back in 2021, and is expected to pick up speed with a CAGR of 4.18%. Interestingly, though still emerging, Hyperloop is predicted to grow the fastest, boasting a CAGR of 6.24%!
So, heavy rail – you might know it as the subway, rapid transit, or rapid rail – is basically an electric train that has its own dedicated tracks. It's built to move tons of people at once! The American Public Transportation Association (APTA) says heavy rail is electric, can handle a heavy load of passengers, and is super speedy. It's almost always separated from regular traffic, either up high on elevated tracks (think Chicago!), down below in subway tunnels (like you see in New York City), or just on its own fenced-off tracks on the ground. Thanks to modern power and smart signals, these trains can really zip and get up to speed fast. But, a heavy rail system needs a pretty big city to work, usually with a population somewhere between 3 and 15 million.
Railway Track Alignment Design Services Market, By Geography
Asia-Pacific
Europe
North America
Latin America
Middle East & Africa
When we look at the Global Railway Track Alignment Design Services Market by Geography, we see it broken down into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. Asia-Pacific really stands out, grabbing over 50% of the market share in 2021 and predicted to keep growing the fastest. Specifically, China is a powerhouse in Asia Pacific, currently building a huge chunk of rail infrastructure, including a whopping 37% of all heavy rail, 61% of high-speed rail, 66% of metro rail, and 21% of light rail! To get even more specific, here's how those larger regions break downAsia Pacific (China, India, Japan, Rest of APAC), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), North America (US, Canada, Mexico), Latin America (Brazil, Argentina, Rest of LATAM), and Middle East & Africa (UAE, Saudi Arabia, South Africa, Rest of MEA).
Key Players
The major players in the market are COWI AVS, WSP, SNC-Lavalin Group, Aurecon Group Pty. Ltd., Bricsys NV., CGS Labs, Mott MacDonald, Hyperloop Transportation Technologies, Transpod, and Others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with Type benchmarking and SWOT analysis.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the segment that is majorly leading in the Global Railway Track Alignment Design Services Market. We cover the major impacting factors that are responsible for driving the industry growth in the given geography.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Railway Track Alignment Design Services Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
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