/PRNewswire/ According to the research report "Railway Maintenance Machinery - Forecast and Analysis Report 2021-2025," the market will witness a YOY growth.
The Worldwide Railway Maintenance Machinery Industry is Expected to Reach $5 5 Billion by 2027 prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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NEW YORK, May 13, 2021 /PRNewswire/
Technavio has announced its latest market research report titled Railway Maintenance Machinery Market by Product and Geography - Forecast and Analysis 2021-2025
The railway maintenance machinery market is poised to grow by USD 2.56 billion between 2021-2025, progressing at a CAGR of almost 9% during the forecast period.
Electric trains are economically more viable and sustainable than fuel-powered trains, due to which there is an increase in railway electrification projects globally. Significant reduction in the emission while transit and faster acceleration and deceleration of the engines compared with the diesel engines are the key drivers for the growth of the electric engines. The governments of various countries are planning to increase the electrification of railways during the forecast period. For instance, the Government of India approved the complete electrification of railways by 2021-2022. Many other countrie
Loram Maintenance of Way, Inc. is excited to announce the acquisition of the railroad services divisions of Montana Hydraulics, LLC. The products and services acquired will be managed under Loram Technologies, Inc., a wholly owned subsidiary of Loram.
Montana Hydraulics’ railroad division provided qualified technicians to perform field services for ballast cars, hydraulic dump cars, and air dump cars as well as repair, maintain, and manufacture maintenance of way equipment. The purchase also included Montana Hydraulics’ bi-directional ballast plows, Grizzly side dump conversions, and Bobcat tarp systems.
“We are confident the additions to Loram Technologies will help continue our mission to enhance customer focus and accelerate growth within our current offerings of GateSync® and Solaris® products and services in the markets we serve,” said Greg Grissom, President of Loram Technologies, Inc.