Monorail Systems Market - 2019 Trends, Size, Growth Insight, Share, Emerging Technologies, Share, Competitive, Regional, And Global Industry Forecast To 2023

Monorail Systems Market to grow at 2.70% CAGR and reach remarkable market value during 2019 and 2023 due to Rapid urbanization and the presence of large volumes of the population in urban areas has increased demand for affordable, and efficient modes of transportation in the public sector.

Monorail Systems Market is segmented by Monorail Type (Straddle and Suspended), Propulsion Type (Electric and Magnetic levitation), Size (Large, Medium, and Compact), and by Region - Global Industry Forecast to 2022. Monorails offer a mode of transport which is efficient and cost-effective, this driving the global monorail systems market.

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Key Players:

Scomi Engineering Bhd, Siemens AG, Bombardier Inc., Hitachi, Ltd., CSR Corporation Limited, Mitsubishi Heavy Industries Ltd., Urbanaut Monorail Technology, Aerobus International, Inc., Intamin Bahntechnik and Woojin Industrial System.

Global Monorail Systems Market Analysis:

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.

As straddle monorail system are easy to install without having spent on expensive track-line construction and also provides safety, reliability, and maintainability compared to suspended monorail systems. Furthermore, electric monorail system by propulsion type is estimated to be fastest growing segment in the market of monorail systems as they are energy efficient, reliable and environment friendly. The global Monorail systems market is expected to show a growth at CAGR of about 2.70% from 2019 to 2022.

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 based on 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.

Intended Audience:

Monorail Systems manufacturers

Distributer & Supplier companies

End Users

consultants and Investment bankers

Government as well as Independent Regulatory Authorities

Industry News:

Table Of Contents:

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porters Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers

3.1.3 Threat Of Substitutes

3.1.4 Segment Rivalry

3.1.5 Bargaining Power Of Buyers

3.2 Value Chain/Supply Chain Analysis

4 Monorail Systems Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

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Release ID: 494070