Global Monorail Systems Market Outlook to 2023: Global Size, Share, Trends, Manufacturers
Market Research Future has published a half-cooked research report on the Global Monorail Systems Market. Monorail systems are essentially a single rail track operation for passengers. Market Research Future has observed the growth of the global monorails systems market for the forecast period from 2016 to 2022. MRFR has observed the growth of the market at a sluggish 2.70% during the review period. Monorails largely have applications in medium capacity metros and in airport transfers. Used for passenger and freight applications, monorails are often wider than the rail guide that supports them. Monorail systems are also often separate from other traffic and are often elevated.
Rapid urbanization and the presence of large volumes of the population in urban areas has increased the demand for affordable, and efficient modes of transportation in the public sector. Monorails offer a mode of transport which is efficient and cost-effective, this driving the global monorail systems market. The growing applications electric monorail systems will likely provide the market with a significant boost as these systems are energy efficient, reliable and environment friendly. Although monorails are not new transport, ongoing technological advancement has increased monorail speeds and allows them to cover greater distances. Monorail systems are the optimal choice with regards to space over metros and other public modes of transportation. The increasing need for sustainable transportation to reduce the increasing traffic congestion in large cities is expected to drive the market significantly over the forecast period. Monorails are being used to connect airport terminals and to connect large shopping centers to parking lots. The low cost of installation of such systems is expected to drive the market rapidly.
Market Segmentation
The global monorail systems market has been segmented on the basis of monorail type, propulsion type, size, and region. Monorail type has been segmented into straddle, and suspended. Straddle monorail systems have landed the largest share in the market due to this type of monorail system being easy to install and inexpensive for track-line construction. Moreover, the straddle monorail system is safe, reliable and easy to maintain.
Propulsion type has been segmented to include electric and magnetic levitation. The electric segment is at the forefront of the market due to the growing environmental consciousness across the globe. Electric monorail systems are energy efficient, and reliable.
Size has been largely segmented into large, medium and compact.
Regional Analysis
Among the various key regions that have been covered in MRFR's report, the Asia Pacific regional market is anticipated to capture the leadership position in the global market. The region has rapid infrastructural development taking place, and the increasing demand for efficient passenger modes of transport in emerging economies is growing rapidly. The APAC is heavily populated and is rapidly developing smart cities as well as looking to install prudent transport modes to reduce traffic problems. Countries like India and China are embracing monorail systems as a way to provide transport and decongestion of heavy traffic in metro cities. China has invested in the development of several monorail systems. Other countries in the region where monorail systems are expected to be developed include Korea and Thailand. Europe and North America follow the Asia Pacific in terms of market size.
Key Players
Hitachi, Ltd., Aerobus International, Inc., Urbanaut Monorail Technology, Bombardier Inc., CSR Corporation Limited, Mitsubishi Heavy Industries Ltd., Scomi Engineering Bhd, Woojin Industrial System, Intamin Bahntechnik, and Siemens AG are among the leading market players that are operating in the competitive landscape of the monorail systems market. MRFR has analyzed these players and identified their various market strategies in the report.
Rapid urbanization and the presence of large volumes of the population in urban areas has increased the demand for affordable, and efficient modes of transportation in the public sector. Monorails offer a mode of transport which is efficient and cost-effective, this driving the global monorail systems market. The growing applications electric monorail systems will likely provide the market with a significant boost as these systems are energy efficient, reliable and environment friendly. Although monorails are not new transport, ongoing technological advancement has increased monorail speeds and allows them to cover greater distances. Monorail systems are the optimal choice with regards to space over metros and other public modes of transportation. The increasing need for sustainable transportation to reduce the increasing traffic congestion in large cities is expected to drive the market significantly over the forecast period. Monorails are being used to connect airport terminals and to connect large shopping centers to parking lots. The low cost of installation of such systems is expected to drive the market rapidly.
Market Segmentation
The global monorail systems market has been segmented on the basis of monorail type, propulsion type, size, and region. Monorail type has been segmented into straddle, and suspended. Straddle monorail systems have landed the largest share in the market due to this type of monorail system being easy to install and inexpensive for track-line construction. Moreover, the straddle monorail system is safe, reliable and easy to maintain.
Propulsion type has been segmented to include electric and magnetic levitation. The electric segment is at the forefront of the market due to the growing environmental consciousness across the globe. Electric monorail systems are energy efficient, and reliable.
Size has been largely segmented into large, medium and compact.
Regional Analysis
Among the various key regions that have been covered in MRFR's report, the Asia Pacific regional market is anticipated to capture the leadership position in the global market. The region has rapid infrastructural development taking place, and the increasing demand for efficient passenger modes of transport in emerging economies is growing rapidly. The APAC is heavily populated and is rapidly developing smart cities as well as looking to install prudent transport modes to reduce traffic problems. Countries like India and China are embracing monorail systems as a way to provide transport and decongestion of heavy traffic in metro cities. China has invested in the development of several monorail systems. Other countries in the region where monorail systems are expected to be developed include Korea and Thailand. Europe and North America follow the Asia Pacific in terms of market size.
Key Players
Hitachi, Ltd., Aerobus International, Inc., Urbanaut Monorail Technology, Bombardier Inc., CSR Corporation Limited, Mitsubishi Heavy Industries Ltd., Scomi Engineering Bhd, Woojin Industrial System, Intamin Bahntechnik, and Siemens AG are among the leading market players that are operating in the competitive landscape of the monorail systems market. MRFR has analyzed these players and identified their various market strategies in the report.
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