REPORT HIGHLIGHT
Rail Profile Grinder Market size was valued at USD 540.6 Million in 2022, expanding at a CAGR of 5.8% from 2023 to 2030.
A rail grinder (also known as a rail grinder) is a train or maintenance-of-way vehicle used to repair the profile and remove deformities from worn rails to increase their lifespan and the ride quality of trains that utilize the track. To extend the life of the rails being maintained for rail corrugation, rail grinders were created. By eliminating deformations and rust, rail grinding is a method used to stop the deformation on railroad tracks caused by use and friction. Continuous usage of railway tracks increases the likelihood of corrugation and general deterioration. When rail corrugation exists or is just starting to occur, rail grinders are used to grind the rails.
Rail Profile Grinder Market - Market Dynamics:
- Increasing railway network drives market growth
- Due to increased investments in the development of new rail networks, the market for rail profile grinders is anticipated to expand globally. Around the world, several nations are constructing railways to serve their expanding economies. The rail network is set to play a significant role in sustainable and affordable solutions as the demand for transportation is expected to increase quickly. Rail is one of the most energy-efficient means of transport for both freight and people, according to the International Energy Agency (IEA). Short-distance air travel is anticipated to be replaced by high-speed rail, while conventional and freight rail can be added to other forms of transportation to provide effective mobility. Urban and high-speed rail infrastructures have rapidly expanded in recent years, laying the groundwork for clean, convenient transit both inside and between cities. For instance, according to the Association of American Railroads, America's freight railroads, the vast majority of which are privately owned, spent $780 billion between 1980 and 2022 on capital expenses and maintenance costs for locomotives, freight cars, tracks, bridges, tunnels, and other infrastructure and equipment, averaging well over $23 billion annually over the past five years. Between 1980 and 2022, that equates to 39 percent of every dollar in income. Thus, the aforementioned stats drive the market growth during the forecast period.
Rail Profile Grinder Market - Key Insights:
- As per the analysis shared by our research analyst, the global Rail Profile Grinder market is estimated to grow annually at a CAGR of around 5.8% over the forecast period (2023-2030)
- The Rail Profile Grinder industry is projected to grow at a significant rate owing to rapid urbanization and expanding railway networks.
- Based on the engine, the combustion segment is expected to lead the market over the forecast period.
- Based on region, the Asia Pacific is expected to dominate the market over the forecast period.
Rail Profile Grinder Market- Segmentation Analysis:
- The Global Rail Profile Grinder Market is segmented based on engine, rail type, end user and Region.
- Based on the engine, the global Rail Profile Grinder market is segmented into combustion, electric and hydraulic. The combustion segment is expected to lead the market over the forecast period. For polishing surface damage, welded junctions, and side trimming of the rails, use an internal combustion rail profile grinder. Rail profile grinders powered by combustion engines have several benefits, including good grinding quality, simple operation, and great operational efficiency. These grinders are perfect for keeping railroad tracks in good condition, especially in outlying places.
Rail Profile Grinder Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to dominate the market over the forecast period. The growth in the region is attributed to the railway expansion and rapid urbanization. Numerous nations in the Asia-Pacific region have made significant investments to develop their rail networks. Examples of significant railway development programs include China's high-speed rail network, India's dedicated freight lanes, and infrastructure projects in Southeast Asian nations. Rail profile grinders are required to maintain and guarantee the security of these networks when new lines are constructed. For instance, according to the National Development and Reform Commission, the 16-station railway will travel 555km (345 miles) across eastern China and cost 180 billion yuan (US$26 billion). It will connect Shanghai with towns in the provinces of Jiangsu and Anhui. Additionally, the need for commuter and metro rail systems has surged as a result of the rapid urbanization of nations like China and India. To maintain operating effectiveness and ensure passenger safety, these urban rail networks need regular maintenance, including profile grinding.
Rail Profile Grinder Market- Competitive Landscape:
The key players operating in the market are: FCS srl, Geismar, Goldschmidt Holding GmbH, Harsco Corporation, Jinzhou Tiegong Railway Maintenance Machinery Co., Ltd, Kennards Hire, Konepaja Mankinen Oy, Loram Maintenance of Way, Inc., Noor Engineering Works, Pandrol (Groupe Delachaux), Pouget rail, Racine Railroad, ROBEL Bahnbaumaschinen GmbH, Safetrack Baavhammar AB, Shandong China Coal Industrial & Mining Supplies Group Co., Ltd, Shenyang Lubang Railway Maintenance Machinery Co., Ltd., SPENO International SA, STANLEY Infrastructure, and Xiangyang Lianjie Mechanical & Electrical Co., Ltd. among many others.
Recent Developments:
In September 2022, the 60-stone rail grinder will be delivered to Saudi Railway Company (SAR) under a nearly $31 million deal, according to an announcement made by Harsco Corporation. In addition, starting in 2022, Harsco Rail will offer two years of grinding services to fulfill the client's current demands.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL RAIL PROFILE GRINDER MARKET KEY PLAYERS
- Harsco Corporation
- Geismar
- Goldschmidt Holding GmbH
- FCS srl
- Jinzhou Tiegong Railway Maintenance Machinery Co., Ltd
- Kennards Hire
- Konepaja Mankinen Oy
- Loram Maintenance of Way, Inc.
- Noor Engineering Works
- Pandrol (Groupe Delachaux)
- Racine Railroad
- Pouget rail
- ROBEL Bahnbaumaschinen GmbH
- Safetrack Baavhammar AB
- Shandong China Coal Industrial & Mining Supplies Group Co., Ltd
- Shenyang Lubang Railway Maintenance Machinery Co., Ltd.
- STANLEY Infrastructure
- SPENO International SA
GLOBAL RAIL PROFILE GRINDER MARKET, BY ENGINE
- Combustion
- Petrol/Gasoline
- Diesel
- Electric
- Hydraulic
GLOBAL RAIL PROFILE GRINDER MARKET, BY RAIL TYPE
- Standard Rail
- Head Hardened Rail
- Heavy Haul Rail
- Tongue Rail
- Crane Rail
GLOBAL RAIL PROFILE GRINDER MARKET, BY END USER
- Passenger & Freight Transportation
- Mining
- Construction
- Others
GLOBAL RAIL PROFILE GRINDER MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA