This Monorail System report gives details about the product launches, future products, joint ventures, marketing strategy, developments, mergers and acquisitions and effect of the same on sales, marketing, promotions, revenue, import, export, and CAGR values with the analysis and estimations. Global Monorail System market research report acts as a perfect guide for actionable ideas, superior decision-making and better business strategies. Market information related to specific stock, currency, commodity and geographic region or country has also been analysed in this report. With an absolute devotion and commitment, Monorail System market research report has been provided with the best reasonable service and recommendations which can be relied upon confidently.
Global monorail market is expected to rise to an estimated value of USD 6.38 billion by 2026, registering a steady CAGR of 2.87% in the forecast period of 2019-2026. Rising demand for cost effective public transport system is the major factor for the growth of this market.
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Market Definition: Global Monorail Market
Monorail is railway systems which consist of single rail which are usually made of concrete and metals. These monorails have wheels under the train which were usually in contact with the track. They are used in applications like airport transportation, medium metros etc. They are usually of two types – straddle monorail and suspended monorail. These monorails are usually run on the elevated tracks. These monorails usually have four to eight cars. Increasing urbanization in the developing country is the major factor fuelling the growth of this market.
- Rising urbanization and industrialization is the major factor driving the market growth
- Technological advancement and development in monorail is driving the growth of this market
- Increasing prevalence for cost- effective public transport system is driving the market.
- Presence of alternatives modes is restraining the market growth
- Limited number of manufacturer is another factor restraining market growth
Segmentation: Global Monorail Market
- Straddle Monorail
- Suspended Monorail
- Electric Monorail Systems
- Maglev Monorail Systems
- Large Size Segment
- Medium Size Segment
- Compact Size Segment
By Grade of Automation
- Semi- autonomous
- Completely- autonomous
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
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Key Developments in the Market:
- In October 2016, BYD announced the launch of their electric monorail system- Skyrail which has rechargeable batteries. The main aim of the launch is to expand public transportation so that it can become the core business sector after IT, automobiles and new energy. This new skyRail has the capacity to carry 10000 to 30000 passengers in an hour.
- In August 2016, TC/American Crane Company announced that they have acquired TC/American Monorail Systems, Inc. This acquisition will help the company to expand their business and provide better services to the customers.
Competitive Analysis: Global Monorail Market
Global monorail market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of monorail market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Key Market Competitors: Global Monorail Market
Few of the major competitors currently working in the Global monorail market are Scomi Group Bhd, Siemens, Bombardier, Hitachi, Ltd., CSR Corporation Limited, MITSUBISHI HEAVY INDUSTRIES, LTD., Einar Svensson, The Urbanaut Company, Inc., Aerobus International, Inc., Intamin Amusement Rides Int, Thales Group, Alstom, Hitachi Rail STS, Ltd., EC21 Inc.
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