by [150+ Pages Report] As per the latest Research and survey report issued by Precedence Research, the global monorail system market size is expected to register revenues worth USD 180.48 billion by the end of 2027, growing at an exceptional CAGR of approximately 21.94% between 2020 and 2027.
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Growth Factors:
The global monorail systems market is largely driven by the rising demand for public transportation system and increasing infrastructure development in the emerging nations. Furthermore, rising traffic congestion and need for reliable and fast-transport system is also driving the market significantly. Monorails offer several advantages over the metro system such as space optimization in installation along with environment friendly means of commutation.
In addition, increasing traffic congestion especially in Asian countries has led the government to invest significantly on the monorail projects. For instance, China, India, Korea, Japan, and other ASEAN countries are largely focused on developing monorails for intra-city travel to reduce the travelling time and regulate the pollution in the region.
Report Scope of the Monorail System Market
| Report Highlights | Details |
| Market Size | USD 180.48 Billion by 2027 |
| Growth Rate | CAGR of 21.94% from 2020 to 2027 |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Base Year | 2021 |
| Forecast Period | 2021 to 2027 |
| Segments Covered | Type, Autonomy, Propulsion Type, Autonomous, Size, Geography |
| Companies Mentioned | Bombardier Corporation, CRRC Corporation Limited, Hitachi Rail, Ansaldo STS, BYD Company ltd, General Electric, Alstom S.A., Thales Group, SIEMENS AG, Mitsubishi Electric, ABB |
However, lack of research & development and innovation in the monorail system along with manufacturing cost and cost of installation for monorail hinder the market growth. Nevertheless, rising government initiatives for monorail rail expected to fuel the market growth during the forecast period.
Scope of the Report
A recent study by Precedence Research on the monorail system market offers a forecast for 2020 and 2027. The study analyzes crucial trends that are currently determining the growth of the monorail system market.
This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of monorail system. The study also provides the dynamics that are responsible for influencing the future status of the monorail system market over the forecast period.
A detailed assessment of the monorail system market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the monorail system market along with their product portfolio enhances the reliability of this comprehensive research study.
Report Highlights
- The Asia Pacific seeks to be the most opportunistic market during the forecast period. The significant growth of the region is majorly attributed to the rising urbanization, ever-increasing population, and rising investment on public transportation. In addition, need for environment-friendly mass transit system also propel the market growth prominently.
- North America and Europe are the noticeable market players that contribute significantly to the market revenue. Being technologically developed and significant initiative by the government to reduce the carbon footprint in the region monorail is the preferred choice for mass transit in the region.
- By propulsion type, electric monorails are the preferred choice over maglev monorail as they are more economical and suitable for intra-city travel. However, maglev trains have very high speed of more than 500 kilometers per hour that makes it unsuitable for short distance travel. Furthermore, it costs more in manufacturing and maintenance.
- GoA2 dominated the automation segment with magnificent revenue share in the global monorail system market. Benefits offered by the GoA2 grade of automation over other grades such as less cost of installation compared to GoA3 & GoA4. In addition, they are operated under surveillance that helps to prevent from accident. However, GoA3 & GoA4 are fully automated monorail grades that possess high level of safety & punctuality.
Competition Landscape
The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicle. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter. This chapter is priceless for report readers, as its enables them in gauging their growth potential in the market and implement key strategies for extending their market reach.
This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably. Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials and company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.
Some of the prominent players in the monorail system market include:
- Bombardier Corporation
- CRRC Corporation Limited
- Hitachi Rail
- Ansaldo STS
- BYD Company ltd
- General Electric
- Alstom S.A.
- Thales Group
- SIEMENS AG
- Mitsubishi Electric
- ABB
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Segments Covered in the Report
By Type
- Straddle Monorail
- Suspended Monorail
By Autonomy
- Semi-autonomous
- Completely Autonomous
- Manual
By Propulsion Type
- Electric Monorail
- Maglev Monorail
By Size
- Large
- Medium
- Compact
By Autonomous
- GoA0
- GoA1
- GoA2
- GoA3
- GoA4
Regional Segmentation
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
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Regional Analysis
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2019 to 2027. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global monorail system market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the monorail system market.
The report includes country-wise and region-wise market size for the period 2019-2027. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2027.
Why should you invest in this report?
If you are aiming to enter the global monorail system market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for monorail system are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Table of Contents
Chapter 1. Introduction
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Market Variables and Scope
Chapter 5. Market Dynamics Analysis and Trends
Chapter 6. Competitive Landscape
Chapter 7. Global Monorail System Market, By Product
Chapter 8. Global Monorail System Market, By Autonomy
Chapter 9. Global Monorail System Market, By Propulsion Type
Chapter 10. Global Monorail System Market, By Autonomous Type
Chapter 11. Global Monorail System Market, Regional Estimates and Trend Forecast
Chapter 12. Company Profiles
Chapter 13. Research Methodology
Chapter 14. Appendix
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