Market Research Report
Global Monorail Market Size study, by Type (Straddle Monorail, Suspended Monorail), by Propulsion (Electric Monorail Systems, Maglev Monorail Systems), by Size (Large Size, Medium Size, Compact Size) and Regional Forecasts 2019-2026
|Published by||Bizwit Research & Consulting LLP||Product code||916186|
Delivery time: 2-3 business days
|Global Monorail Market Size study, by Type (Straddle Monorail, Suspended Monorail), by Propulsion (Electric Monorail Systems, Maglev Monorail Systems), by Size (Large Size, Medium Size, Compact Size) and Regional Forecasts 2019-2026|
|Published: November 8, 2019||Content info:||
Global Monorail Market is valued at approximately USD 4.95 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 2.8% over the forecast period 2019-2026. A monorail is a train in which the track comprisecomprises of a single rail or beam, made up of either concrete or metal. A monorail is supported and guided by wheels mounted underneath the train, that are constantly in contact with the track. Usually, this train isare powered by electricity provided via a third rail mounted along the track. These trains are wider than the track thus, requires minimum space. Also, the trains consist of three or four boggies and can have up to eight boggies, each of them running on two single axle rubber tire boggies. The load bearing tires are acts as the boggie primary suspension. aAnd the secondary boggie suspension is provided by air springs and shock absorbers fitted among the boggie frame and the boggie bolster. Mainly, monorail finds its applications in medium capacity metros and airport transfer. Growing need for environment friendly transportation, increased demand for cost effective & efficient transportation for public services, increasing urbanization and increasing investment on monorail projects worldwide are the few factors responsible for high CAGR of the market around the world. For instance, In India, the Mumbai Metropolitan Region Development Authority (MMRDA) and a consortium of Larsen & Toubro and Scomi Engineering (LTSE) both are working together to implement the monorail project on build operate transfer (BOT) basis until 2029 with the estimated investment around Rs 24.6 billion (USD 501.9 million). Moreover, increasing technological developments and innovations led to change in monorail speeds and the distance it covers is one of the major factorfactors likely to create lucrative growth opportunity to the market in the upcoming years. However, low passengers carrying capacity and availability of alternate modes are few factorfactors anticipated to restraining the growth of global Monorail market during the forecast period.
The regional analysis of global Monorail Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the large number of proposed monorail projects, increasing demand for efficient passenger transportation service and rapid urbanization in the region. However, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below: