PUBLISHER: Allied Market Research | PRODUCT CODE: 1397010
PUBLISHER: Allied Market Research | PRODUCT CODE: 1397010
The global track digital axle counter market size was valued at $3,45,200.2 thousand in 2022 and is projected to reach $9,03,527.2 thousand by 2032, registering a CAGR of 10.1% from 2023 to 2032. Track digital axle counters are railway signaling equipment, which primarily consists of axle sensors, and evaluator along with some other devices. The axle sensor senses the passing of wheels on the track and the evaluator, along with other devices, counts and analyses the data. Track digital axle counter helps in precisely analyzing the presence of the train in a section.
Track digital counter is a relatively newer technology used for the signaling for the railways. Prior to this technology, track circuits were prevalent. Track circuits are susceptible to adverse weather conditions, such as snow, rain, and extreme temperatures. Accumulation of snow or water on the track can interfere with ability of the circuit to detect trains accurately. In addition, traditional track circuits can only provide train detection at specific points along the track. Such vulnerabilities have been addressed in digital axle counters, as they are easy to install, and process a large volume of information which is useful for the train controllers. Owing to the superiority of digital axle counters over other comparable technologies, it propels its demand among rail operators. Furthermore, the expansion of railway infrastructure in various countries caters to the increase in requirement of efficient and affordable transportation of goods as well as passengers over short and longer distances.
However, the high initial cost of digital axle trackers and complex maintenance hinder the growth of the market. Furthermore, advancement in technology pertaining to digital axle counters is anticipated to provide lucrative opportunities for the growth of the track digital axle counter market.
Moreover, the price of oil & gas and the price of raw materials have experienced increased volatility globally, due to an economic downfall in major countries mainly driven by Ukraine-Russia war. This has led to slow-paced growth of the track digital axle counter market and its related industries.
The track digital axle counter market is segmented on the basis of component, application, and region. On the basis of component, the market is bifurcated into wayside axle counter, and on-rail axle counter. On the basis of application, it is bifurcated into railway, and urban rail transit. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, the UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competition Analysis
Key companies profiled in the track digital axle counter market report include ALTPRO, CLEARSY, Eldyne Electro Systems Pvt. Ltd., Frauscher Sensor Technology Group, Schaltbau Holding AG, Voestalpine AG, Siemens AG, Thales Group, Applied Electro Magnetics, G.G.Tronics India Pvt. Ltd., HBL Power Systems Ltd, Kernex Microsystems (India) Ltd., Central Electronics Ltd., Scheidt and Bachmann GmbH, Alstom SA (Alstom Transport India Limited), Medha Servo Drives Private Limited, Lab to Market Innovations Private Limited, Ircon International Limited, Argenia Railway Technologies, and Nippon Signal Co., Ltd. (Nippon Signal India Private Limited). The major players that operate in the global market are constantly innovating their offerings and collaborating with railway companies to sustain the stiff competition in the market.
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