Transparency Market Research has released a new market report titled “Monorail System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” According to the report, in terms of revenue, the global monorail system market is predicted to expand at a CAGR of about 22% during the forecast period.
Trains are cost-effective and considerably less polluting
mode of transportation and hence, governing bodies are preferring to expand
train connectivity in order to enhance train transportation. Internal
combustion engine vehicles are a major source of pollution. Therefore,
governing bodies are focused on increasing the adoption of other modes of
transportation that are less polluting, such as trains. Monorails are a
significantly less polluting and faster mode of transportation. Monorails
require significantly lesser space than that of conventional trains, and hence,
these are more suitable for urban areas where lack of space is a concern. Rapid
urbanization occurring due to enhanced job opportunities, increase in number of
on-road vehicles due to rise in per capita income, and enlarging urban areas
are fueling the demand for faster, safer, and economical modes of
transportation, which in turn is fueling the demand for monorail systems.
Moreover, the construction of monorail systems is much easier and requires
significantly lower expenditure. Consequently, governing bodies, especially
across developing nations, are preferring to incorporate the monorail system in
densely populated urban areas.
Get PDF brochure for Industrial Insights and business
Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=27410
In terms of type, the monorails systems market has been
bifurcated into straddle monorail and suspended monorail. Suspended monorails
were popular Germany and were installed in zoos, theme parks, and exhibitions.
Suspended monorails are suitable for light applications, as their passenger
carrying capacity is much lower than that of straddle type monorails. The cost
of construction of suspended type monorail is higher than that of straddle type
monorail system. Therefore, straddle type monorail systems are preferred for
mass and high frequency transportation, such as urban transportation. Major
number of proposed and under-construction monorail system projects are
incorporating the straddle type monorail system. Consequently, the straddle
monorail segment is likely to expand at a CAGR of about 23% during the forecast
period.
Maglev trains are capable of achieving cruising speed of
more than 500 Km per hour, which makes these trains suitable for long-distance
travel. Maglev monorails utilize magnetic levitation to propel the vehicle.
These monorails utilize two sets of magnets, one to lift the train and the
other to propel the vehicle forward. Maglev trains are considerably fast;
however, the cost and time required for construction of maglev monorail system
is significantly higher than that of electric monorail system. Electric
monorail systems are suitable for transporting passengers for shorter
distances. The electric monorail system can have numerous stations across its
track, which makes is highly suitable for urban areas. Therefore, the electric
monorail system segment dominates the global monorail system market.
Incorporation of automation into trains can save up to 15%
of the energy required and can have a significant positive impact on required
travel time. Automated trains are proven to have reduced number of crashes and
accidents and hence, preference for automated trains has been increasing over
the last few years. Completely autonomous vehicles, which are considered as
GoA3 and GoA4 trains, don’t have a driver and are more expensive than
semi-autonomous trains. GoA1 and GoA2 trains are semi-autonomous trains that have
automated train operation and automated train protection technology. In GoA2
trains, cruising and train stopping are automated, which enhances train safety
and speed. Moreover, semi-autonomous trains are less expensive than completely
autonomous vehicles. Therefore, governing bodies are preferring semi-autonomous
vehicles. Developing countries and low GDP countries are adopting
semi-automated monorail systems, which is primarily attributed to its lower
cost. Major number of prosed monorail system projects have incorporated the
GoA2 type of monorails, and hence GoA2 and semi-autonomous segments are
expected to expand at a significant pace during the forecast period.
Request for TOC @ https://www.transparencymarketresearch.com/report-toc/27410
Demand for monorail systems is rising in China, India, and
ASEAN countries, which is primarily attributed to the rapid urbanization in
these countries. Enlarging urban area, increased migration of people from
villages to urban areas due to better income opportunities, and increase in
number of daily commuters are increasing the burden over mass transit systems
in densely populated areas across these nations. India and ASEAN countries have
a bunch of proposed monorail system projects, and hence, Asia Pacific region is
estimated to hold a major share of the global monorail system market during the
forecast period. Several countries across Latin America and Middle East &
Africa are primarily focused on enhancing train connectivity across urban
areas, which is likely to offer lucrative opportunities to the monorail system
market in these regions.
Key players operating in the global monorail system market
are CRRC Corporation Limited, Bombardier Corporation, Hitachi Rail, BYD
Company ltd, Ansaldo STS, Alstom S.A., SIEMENS AG, Thales Group, Mitsubishi
Electric, General Electric, and ABB. BYD Company ltd. is a subsidiary
of a leading electric vehicle manufacturer BYD Auto, which is focused on the
development of advanced low and zero-emission modes of transportation.
The global monorail system market has been segmented as
follows:
Global Monorail System Market, by Type
- Straddle
Monorail
- Suspended
Monorail
Global Monorail System Market, by Propulsion Type
- Electric
Monorail
- Maglev
Monorail
Global Monorail System Market, by Autonomy
- Manual
- Semi-autonomous
- Completely
Autonomous
Global Monorail System Market, by Grade of Automation
- GoA0
- GoA1
- GoA2
- GoA3
- GoA4
Purchase our Premium Research Report at: https://www.transparencymarketresearch.com/checkout.php?rep_id=27410<ype=S
About Us
Transparency Market Research (TMR) is a global market
intelligence company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use proprietary data
sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by
a team of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research techniques to
develop distinctive data sets and research material for business reports.
Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
No comments:
Post a Comment