Overview and Scope
Railroad construction includes track laying and ballasting, which includes putting the railway sleepers and tracks down on the track bed. It involves grading, drainage, and placing of rails, crossties, and ballast.
Sizing and Forecast
The rail road construction market size has grown strongly in recent years. It will grow from $215.28 billion in 2023 to $228.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to industrialization and economic development, expansion of trade routes, government investments in infrastructure, resource transportation for extractive industries, military and strategic considerations..
The rail road construction market size is expected to see strong growth in the next few years. It will grow to $279.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to continued urbanization and population growth, globalization and international trade growth, focus on sustainable transportation, infrastructure modernization and upgrades, energy and resource transport.. Major trends in the forecast period include modernization of existing rail infrastructure, railway safety enhancements, public-private partnerships (ppps), global connectivity initiatives, innovations in materials and construction methods..
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The rail road construction market covered in this report is segmented –
1) By Train Type: Metro, Light Rail, Bullet Train or High-Speed Rail (HSR)
2) By Construction Type: New Construction, Renovation
3) By Application: Urban, Rural
Asia-Pacific was the largest region in the rail road construction market in 2023. The regions covered in the rail road construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing demand for rail freight transport is expected to propel the growth of the railroad construction market going forward. Rail freight is the movement of commodities on trains by rail, as opposed to air, ocean, or road transit which allows a larger volume of cargo to be delivered over longer distances. The growth in railroad freight can boost railroad construction as a greater number of trains will be needed to increase rail freight transport. For instance, according to Eurostat, a statistical office of the European Union (EU), rail freight transport in the EU increased in 2021 by 8.7% compared to 2020. Therefore, the growing demand for rail freight transport is driving the growth of the railroad construction market.
Key Industry Players
Major companies operating in the railroad construction market are focused on innovating versatile excavators such as crawler-based excavators to provide an efficient solution for railroads. A crawler-based excavator is a type of excavator equipped with a set of tracks or crawler tracks instead of wheels. For instance, in October 2022, Mecalac, a US-based manufacturer of compact construction equipment, launched its 136MRail rail-road excavator in the North American market. The versatile crawler-based excavator, with factory-integrated hi-rail, is designed for Class 1 railroads, light rail, and industrial rail operations. The 136MRail, based on Mecalac’s compact skid excavator concept, combines the functions of an excavator with exceptional lifting, towing, and loading capabilities. Equipped with various attachments, it can perform a wide range of tasks on and off the rail, making it suitable for light to medium service and maintenance jobs.
The rail road construction market report table of contents includes:
1. Executive Summary
2. Rail Road Construction Characteristics
3. Rail Road Construction Trends And Strategies
4. Rail Road Construction – Macro Economic Scenario
5. Global Rail Road Construction Size and Growth
…..
32. Global Rail Road Construction Competitive Benchmarking
33. Global Rail Road Construction Competitive Dashboard
34. Key Mergers And Acquisitions In The Rail Road Construction
35. Rail Road Construction Future Outlook and Potential Analysis
36. Appendix
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