According to a report of the global monorail system market by Type (Straddle and Suspended), by Propulsion Type (Electric and Maglev), by size (Large, Medium and Compact), -by region (North- America, Europe, Asia-Pacific, Middle East & Africa and South America) –is expected to reach US$ 6.28 Bn by 2026, at a CAGR of 2.86%.
The monorail is a train which uses a single track, made of either metal or concrete. The monorail is managed and supported by wheels mounted below the train, which are continuously in contact with the track. Monorail trains generally have three or four cars and can have up to eight cars. Monorail trains are larger than the track, hence requires minimum space. The increasing need for urbanization, environmental sustainability, and traffic congestion has acquired an increasing number of transport systems, which is expected to drive the demand for monorail systems. The growth of monorail systems is demanded by expanding infrastructure development and demand for public transformation system in emerging countries.
The Propulsion Type Electric segment to hold the largest market share.
The electric monorail systems are anticipated to hold the largest share, in the global market. Since electric monorails are more popular in the market because they are environment-friendly, reliable, cheaper and efficient than maglev monorails. Hence, the demand for electric monorails is high across the globe.
The Type Straddle segment to hold the largest market share
Straddle type of monorail is expected to carry a number of passengers as compared to the suspended type of monorail. Thus, the straddle monorail segment estimated for a major share of the market, in terms of revenue in 2017 and is expected to remain dominant during the forecast period.
Asia-Pacific is estimated to largest market share
The Asia-Pacific is the huge markets for monorail systems and is expected to dominate the global monorail market in forecast period owing to the rise in urbanization in countries and technological advancements in monorail systems. This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Hitachi, Ltd., Bombardier Transportation, Scomi Engineering Bhd, Aerobus International, Inc., Mitsubishi Heavy Industries, Ltd., Intamin.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Monorail System Market. Report encompasses the market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for making informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Monorail System Market.
The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Monorail System database market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Monorail System Market”.
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