Urban Rail Transit Market trends:
GOA 2 and GOA 3 are the dominating segments in the market owing to increasing automation by manufacturers and demand for ease of living by consumers across the globe. Moreover, the increasing intensity of inhabitants per capita using the suburban or GOA 2 autonomy trains is the factor attributing to the growth of the market across the globe. Increasing infrastructure and metro rail development in APAC and MEA regions are the factors expected to adhere to the market growth of the GIOA 3 segment in the market.
In addition, increasing demand for hybrid transmission systems in monorail and trams is the key factor considered to drive the growth of the segment during the forecast period. Highly adaptive low floor LRVs plans proposed by governments across the globe is expected to dominate the market share of GOA 3 segment in the market.
According to UITP, Urban Rail Transit Market is expected to dominate the transportation sector owing to increasing applications of automation and infrastructural developments in metro rails. Heavy integration among the manufacturers during the forecast period owing to a chain of products available in the market and flexible Urban Rail Transit designs along with improving standards of manufacturing is the key factor considered to drive the growth of the market. According to Sales experts, sales are expected to reach approximately 0.6 million units worldwide during the forecast period owing to rising demand for safety and comfort among the emerging economies.
APAC is the dominating region in the market owing to well-established the infrastructure of the metro engine and tram manufacturing and China is posing as the highest-grossing region in terms of sales of the products. Moreover, the increasing domination of Metro rail systems, as well as LRT network in the region, is the factor considered to dominate the regional market. The European market is expected to register a CAGR of approximately 5.3% owing to the increasing investment of key players in the region in suburban and tram services. Moreover, stringent environment protection regulations across the region are the key factor considered to hamper regional growth. Switzerland is the dominating segment in the European region owing to the permeation of emerging companies in the region who are also prominent players in the market. North America’s regional market is expected to boost during the forecast period owing to increasing economic growth in the region. USA and Canada are the dominating countries in the region expected to register a CAGR of approximately 3.87% during the forecast period owing to the mass manufacturing of metro rail systems in the region.
In a recent research report by Maximize Market Research, the Urban Rail Transit Market is expected to surpass US $XX million by the year 2026, from US $XX million in 2019.
Despite a huge decline in the sales of Urban Rail Transit during the initial phase of pandemic spread and lockdown restrictions all over the region, the market is observed to pick up a quick pace for registering a CAGR of almost more than 3.4%, during the tenure of 2020 – 2026.
The study is consolidated on the basis of three major segments and further into sub-segments, Rail Type (LRT, Tram, Metro, Monorail, suburban), Autonomy (semi-autonomous, fully autonomous and manual), Level of Autonomy (GOA 1, GOA 2, GOA 3 and GOA 4) to forecast the market value; Also includes the analysis of past market dynamics from 2016 – 2019, considering 2019 as the base year.
Lastly, the market research report provides a regional comparison and a complete country level analysis for the latest trends, along with the major key players- Siemens AG, Hitachi Ltd., Alstrom, Larsen and Turbo Ltd., Kawasaki Heavy Industries Ltd., CRRC Corporation Ltd., Bombardier, Inc., Mitsubishi Heavy Industries Ltd., Skoda Transportation AS, Motherson Sumi Systems Ltd., Construcciones y auxilier de Ferrocarriles SA, The Greenbrier Companies, Inc., Astra rail, AmstedMaxion, INTAMIN Deutshland, Japan Transport Engineering company, CAF, PKC Group, Newag, Bradken , DCD Rail.
You can browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Urban Rail Transit Market.”
https://www.maximizemarketresearch.com/market-report/global-urban-rail-transit-market/112344/
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