Track Digital Axle Counter Market Expected to Reach $903.5 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Track Digital Axle Counter Market," The track digital axle counter market size was valued at $345.2 million in 2022, and is estimated to reach $903.5 million by 2032, growing at a CAGR of 10.1% from 2023 to 2032.

Track digital axle counter is a newer railway signaling technology that analyses the occupancy on a section of track by a train and signals accordingly. There are primarily two component types of track digital axle counter; wayside axle counter, and on-rail axle counter, these types are categorized as two segments in the report. Out of these two segments, the on-rail digital axle counter segment accounted for a higher market share in 2022, and is expected to grow with a higher CAGR during the forecast period.

On-rail digital axle counter is further categorized into single-section and multi-section. Multi-section digital axle counter is an advanced signaling solution that extends the capabilities of axle counting to multiple lines within a station or yard. Single-section digital axle counter is a signaling system designed to detect the presence or absence of axles on a single track.

Moreover, on the basis of the application of track digital axle counter, the market is categorized as railway and urban rail transit. The railway segment registered a high market share in 2022, in terms of revenue. Railways play a pivotal role in the progress of any nation, serving as a cost-effective and time-efficient mode of transportation for both goods and passengers.

Countries such as the U.S., China, and India boast extensive and bustling rail networks, with India's railway system experiencing notable growth. This is expected to be a major factor in the growth of this segment. However, the urban rail transit segment which includes railways meant for inter-city transportation is expected to dominate the track digital axle counter market forecast by growing with a higher CAGR during the analysis period.

The market is mainly driven by growth in railway infrastructure, especially in developing and developed countries. Moreover, railway safety is a paramount concern in the transportation industry, and the implementation of advanced technologies including digital axle counter is playing a crucial role in achieving and maintaining a high level of safety standards; thereby, driving the market demand. In addition, Digital Axle Counters (DACs) are superior to various advantages over similar other yet older technologies such as track circuits. DACs are known for their high precision, which accurately counts the number of axles passing over sensors. However, high upfront cost of specialized digital axle counters is expected to restrain the track digital axle counter market growth in the coming years.

In 2022, Europe dominated the track digital axle counter market, in terms of revenue, followed by Asia-Pacific and North America. Moreover, the market in Asia-Pacific is anticipated to grow with a higher CAGR during the forecast period. Growth in industrial sectors and high rate of urbanization in countries, such as China, India, Malaysia, and Indonesia have been an instrumental factor for the high market growth in Asia-Pacific.

Various key players in the track digital axle counter market offer innovative digital axle counters. Such as Lab to Market Innovations Private Limited, an India-based innovating company in the railway sector is a leader in Fibre Brag Grating (FBG) sensing technology, which it uses in its digital axle counter offering. In addition, companies such as Thales, Fraucher, Siemens, and others also offer a variety of digital axle counters.

However, various businesses in the track digital axle counter market are expected to witness a slow growth rate in the coming year, owing to the economic downturn in major countries driven by the Ukraine-Russia war. The inflation has already led to higher prices of materials used in the railways expansion, eventually hindering market growth.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging track digital axle counter market trends and dynamics. 
• Depending on the component, the on-rail counter segment dominated the track digital axle counter market, in terms of revenue in 2022 and the same segment is projected to grow at a significant CAGR during the forecast period.
• By application, the railway segment dominated the track digital axle counter market share in terms of revenue generated in 2022. However, the urban rail transit segment is anticipated to grow with a higher CAGR during the forecast period.
• Asia-Pacific is projected to register the highest growth rate in the coming years.
• The key players within the track digital axle counter market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the track digital axle counter industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market. 
• In-depth track digital axle counter market analysis is conducted by constructing estimations for the key segments between 2023 and 2032.