Construction is a labor-intensive industry since workers are the primary units on construction sites, which can substantially impact project productivity and the quality of construction work. Most of the existing research has focused primarily on construction labor productivity. However, with emerging tools and technologies, equipment is the main driver of productivity for some construction activities, which are equipment-intensive. Therefore, this study aims to identify and analyze the significant factors affecting equipment productivity in the track laying activity using a relative importance index (RII) method. A structured questionnaire survey method was used to collect the data from the experts involved in the rail-track laying activity. A total of 119 valid responses were collected using a face-to-face interview technique. Then, Cronbach alpha was performed to check the overall reliability of the collected data. Finally, the findings of the study provided the ranking of the factors influencing equipment productivity in the rail-track laying activity. The top seven significant factors are labor experience, weather condition, availability of material, total daily overtime, crew size, total volume, and equipment movement, with an RII value of 0.963, 0.958, 0.953, 0.951, 0.948, 0.929, and 0.911, respectively. The result of the study can be helpful to contractors and officials in understanding the factors’ importance and their influence on productivity for the rail-track activity.