Track Laying Equipment Market Size (2024 - 2029)

Track Laying Equipment Market Analysis

The Track Laying Equipment Market size is estimated at USD 678.43 million in 2024, and is expected to reach USD 918.65 million by 2029, growing at a CAGR of 6.25% during the forecast period (2024-2029).

In the long term, increasing consumer preference toward availing public transportation medium, expanding the rail freight sector, and the rising investments to improve rail transportation infrastructure are expected to serve as significant determinants for the growth of the track-laying equipment market worldwide. The increasing demand for cargo transportation through rails and the growing number of rail passengers will lead to the requirement to construct new railway lines, positively contributing to the growth of the track-laying equipment market.

• According to the National Railway Administration of China, the rail freight turnover in China was 3.59 trillion-ton kilometers in 2022 compared to 3.32 trillion-ton kilometers in 2021, representing a 17.7% Y-o-Y growth between 2021 and 2022.
• According to the Organization for Economic Co-Operation and Development, in France, the volume of passenger rail transport reached 117,852 million passenger kilometers in 2022, compared to 86,419 million passenger kilometers in 2021, recording a Y-o-Y growth of 36.3% between 2021 and 2022.

The government's aggressive push toward enhancing the rail transportation sector and the subsequent investment to improve the existing railway lines worldwide will further foster the demand for advanced track-laying equipment to be deployed on sites. Various emerging countries in Europe deploy track-laying equipment to successfully install or maintain railway tracks faster. This equipment is crucial for reducing the turn-around time for project completion and also helps automate heavy-load work for construction workers.

• In April 2024, the Kingdom of Saudi Arabia and the Kuwaiti Government announced their plan to construct a 60-km high-speed rail network connecting Riyadh and Kuwait City by 2028. The deployment of track-laying equipment for the construction of such a large railway project will become essential for its timely completion.
• In March 2023, the United States Federal Transit Administration (FTA) announced that it is recommending 11 major rail projects receive a share of USD 4.45 billion allocated to public transport construction projects in the fiscal 2024 budget request to Congress.

In the coming years, rapid enhancement in automated track-laying equipment technology and the rising investments by both the public and private sectors to enhance the rail transportation infrastructure are expected to positively impact the market for track-laying equipment. Moreover, manufacturers operating in the ecosystem are expected to invest hefty sums to constantly upgrade their product portfolio to enhance their brand presence and cater to customers worldwide.

Track Laying Equipment Industry Segmentation

Track-laying equipment refers to heavy machinery deployed to install new railroad tracks or replace and maintain existing railway tracks. The track-laying equipment market consists of a wide range of companies involved in designing, manufacturing, and selling track-laying machines to end users.

The track-laying equipment market is segmented by type, application, lifting capacity, and geography. By type, the market is segmented into new construction equipment and renewal equipment. By application, the market is segmented into heavy rail and urban rail. By lifting capacity, the market is segmented into up to 9 tonnes, 9-12 tonnes, and more than 12 tonnes. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.

The report offers market size and forecasts for track laying equipment in value (USD) for all the above segments.