Overview of the global automatic brake pad inspection system market
According to Technavio’s market research report, the rising need for predictive maintenance from the railway sector will be one of the major factors that will have a positive impact on the growth of the global automatic brake pad inspection system market during the forecast period. Owing to the availability of real-time updates for brake pad working and the enhanced operational flexibility, there is a growing usage of automated brake pad inspection systems. The availability of real-time data in the processes reduces the time required for maintenance by 50-60% and also increases the efficiency of brake pads. Moreover, these systems also have advantages such as issuing alerts on missing brake pads, information on brake pad thickness, calculating the wear rate, and predicting the replacement time of the brake pad. This will drive the demand and adoption of automatic brake pad inspection systems in the railway sector, fueling the market’s growth prospects. Our market research analysts predict that this market will grow at a CAGR of more than 9% by 2022.
In terms of geography, EMEA will be the major revenue contributor to the automatic brake pad inspection system market throughout the forecast period. Growing investments in new railway lines in Europe and the increase in number of urban rail projects in the Middle East, will propel the demand for automatic brake pad inspection systems in the region.
Competitive landscape and key vendors
The automatic brake pad inspection system market comprises of established vendors. The vendors in this market are categorized based on product offering, presence and focus, and market development activities. Also, to retain their market shares, the automatic brake pad inspection system manufacturers are focusing on enhancing their services and are providing customized solutions based on the railway maintenance necessities.
The leading vendors in the market are –
The other prominent vendors in the market are imc MeBsysteme, Australian Rail Technology, CIM (MECHAN), IEM, JLI Vision, KLD Labs, Lynx Engineering Consultants (Lynxrail), Rail Vision Europe, Resonate Group (DeltaRail), SBB, SELVISTIC (SelectraVision), Spectris (HBM), and Kistler.
Segmentation by product and analysis of the automatic brake pad inspection system market
The hardware segment accounted for the major share of the automatic brake pad inspection system market. This segment consists of machine vision systems, such as camera sensors, frame grabbers, and optics. Vendors are offering innovative and cost-effective means to use cameras for efficient railway inspection. Moreover, the development of smart and thermal cameras with enhanced features will also drive the market’s growth in this segment during the forecast period.
Segmentation by end-user and analysis of the automatic brake pad inspection system market
Third party service providers
According to this market research report, state-owned railways will be the primary end-user to the automatic brake pad inspection system market until 2021. Governments spend significantly on the maintenance and service of railways, which drives the market’s growth in this segment. Vendors enter into long-term contracts with governments for supplying inspection systems and components.
Key questions answered in the report include
What will the market size and the growth rate be in 2022?
What are the key factors driving the global automatic brake pad inspection system market?
What are the key market trends impacting the growth of the global automatic brake pad inspection system market?
What are the challenges to market growth?
Who are the key vendors in the global automatic brake pad inspection system market?
What are the market opportunities and threats faced by the vendors in the global automatic brake pad inspection system market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global automatic brake pad inspection system market?
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