Railway infrastructure is one of Austria's top priority sectors in achieving carbon neutrality. According to the 2030 Mobility Master Plan developed by the Austrian Federal Ministry of Climate Action, Environment, Energy, Mobility, Innovation and Technology (BMK), the expansion to an even greater network of public transportation is crucial for the country to reduce its emission output further.
/PRNewswire/ The railway maintenance machinery market size is estimated to grow by USD 1,442.03 million. The growth momentum of the market will accelerate.
/PRNewswire/ According to the research report "Railway Maintenance Machinery - Forecast and Analysis Report 2021-2025," the market will witness a YOY growth.
/PRNewswire/ According to the research report "Railway Maintenance Machinery - Forecast and Analysis Report 2021-2025," the market will witness a YOY growth.
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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