Electric Point Machine Market Size, Share, Growth, and Industry Analysis, By Type (143 mm Stroke, 220 mm Stroke), By Application (Railway, Subway, High-speed Railway, Tram System) and Regional Insights and Forecast To 2032

Updated On: 22 April 2024

Electric Point Machine Market REPORT OVERVIEW

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global electric point machine market size was USD 391 million in 2022 and market is projected to touch USD 735.04 million by 2032 at CAGR 6.5% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, electric point machine experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The word electric point machine represents a tool that uses an electric motor to carry out the function of unlocking, operating, locking, and detecting the correct setting of the point switches. This function is similar to that carried out by an operator using a lever in a mechanically lever frame.

Innovation and electric point machine market growth expansion are being fueled by strategic alliances between point machine makers, train operators, and technology providers. The need for energy-efficient and environmentally friendly point machines is being driven by the increasing attention being paid to sustainability and environmental issues.

COVID-19 Impact: Temporary Shutdowns to Degrade Market Share 

The COVID-19 outbreak had an effect on the market, similar to it has on other industries. The outbreak curtailed expenditures in infrastructure development, temporarily halted train construction, and disrupted the world's supply chain. However, the need of electric point machine will increase as nations recuperate concerning the outbreak and restart their economic activity. As long as efficient and secure rail transportation is required, market expansion is expected to be fueled by investments in rail infrastructure.

LATEST TRENDS

"Demand for Effective Transportation Systems to Stimulate Market Development"

The worldwide growth of railway networks is a result of the increasing demand for effective transportation systems. To enable secure and efficient train operations, this expansion necessitates the setting up of machines. Advanced point machines have been created as a result of developments in automating and digital control systems. These devices provide greater operational capabilities, increased dependability, and decreased maintenance needs. A crucial component of railroad operations is safety. In order to provide safe track switching and reduce the possibility of derailments and accidents, point machines are essential.

Electric Point Machine Market SEGMENTATION

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• By Type

Based on type; the market is divided into 143 mm stroke, 220 mm stroke

143 mm stroke is the leading part of the type segment.

• By Application

Based on the application; the market is divided into railway, subway, high-speed railway, tram system

Railway is the leading part of the application segment.

DRIVING FACTORS

"Ongoing Developments to Aid Market Expansion  "

The electric point machine market landscape is being shaped by ongoing developments within machine, including the introduction of digital control structures, monitoring from afar, and predictive maintenance. The design, production, and use of point machines are significantly impacted by the strict safety requirements and standards enforced by regulatory organizations.

"Rapid Urbanization to Foster Industry Progress"

Rapid urbanization and infrastructure development are occurring in developing nations. As they engage in enlarging their rail networks, these regions present the point machine market with tremendous growth potential.

Point machine operations could be revolutionized by the application of both the Internet of Things, or IoT, and AI (Artificial Intelligence) technology together. Predictive analytics needs and smart point maintenance requirements. To fulfill the rising need for effective and environmentally friendly transportation, many existing rail networks need to be upgraded and modernized. For market players, replacing antiquated point machines with cutting-edge solutions offers a lucrative opportunity.

RESTRAINING FACTOR

"Involvement of Large Upfront Costs to Stop Market Evolution  "

The establishment of electric point machine entails large upfront costs, involving equipment acquisition, setup, and connections into current signaling systems. These expenditures can be a challenge for smaller rail companies with limited funds.

In order to maintain their best performance and dependability, electric point machine need routine maintenance. Lubrication, inspections, and component replacements are examples of maintenance procedures that can be time-consuming and expensive.

The manufacturing of point machines is subject to strict regulatory requirements and safety certifications. These rules must be complied with by manufacturers, which can be a challenging and time-consuming procedure.

Electric Point Machine Market REGIONAL INSIGHTS

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"North America to Support Market Advancement owing to Expenditures in Large Renovation Projects "

North America will be a sizable market for electric point machines because to its well-established rail infrastructure and continuous expenditures in large renovation projects.  The focus on cutting-edge signaling systems as well as security requirements in the region contributes to the electric point machine market share expansion.

Point machines have a mature business in North America, where there are substantial rail networks.  The demand for sophisticated point machine solutions is driven by the region's emphasis on high-speed rail communication, interoperability, and safety standards.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Siemens (Germany)
• Alstom (France)
• Vossloh (Germany)
• CG Power (India)
• Signal Aspects (U.S.)
• HANNING & KAHL (Germany)
• Globe Scott (India)
• Intertech Rail (U.S.)
• Kyosan (Japan)
• Hitachi (Japan)
• AZD Praha (Germany)
• VRS Railway Industry (Netherlands)
• CRSC (China)
• Wabtec (U.S.)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.