Global Monorail Market Size study & Forecast, by Type (Straddle Monorail, Suspended Monorail), by Propulsion (Electric Monorail Systems, Maglev Monorail Systems), by Size (Large Size, Medium Size, Compact Size) and Regional Analysis, 2022-2029

Global Monorail Market Size study & Forecast, by Type (Straddle Monorail, Suspended Monorail), by Propulsion (Electric Monorail Systems, Maglev Monorail Systems), by Size (Large Size, Medium Size, Compact Size) and Regional Analysis, 2022-2029

Global Monorail Market is valued approximately USD 6.74 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 2.82% over the forecast period 2022-2029. A monorail is a train in which the track comprises of a single rail or beam, made up of either concrete or metal. A monorail is supported and guided by wheels mounted underneath the train, that are constantly in contact with the track. Usually, this train is powered by electricity provided via a third rail mounted along the track. These trains are wider than the track thus, requires minimum space. Also, the trains consist of three or four bogies and can have up to eight bogies, each of them running on two single axle rubber tire bogies. The load bearing tires act as the bogie primary suspension and the secondary bogie suspension is provided by air springs and shock absorbers fitted among the bogie frame and the bogie bolster. Mainly, monorail finds its applications in medium capacity metros and airport transfer. Growing need for environment friendly transportation, increased demand for cost effective & efficient transportation for public services, increasing urbanization and increasing investment on monorail projects worldwide are the few factors responsible for high CAGR of the market around the world.

The rising urbanization in developing countries is anticipated to influence to invests in monorail projects that support the market growth during forecast period. For instance, In India, the Mumbai Metropolitan Region Development Authority (MMRDA) and a consortium of Larsen & Toubro and Scomi Engineering (LTSE) both are working together to implement the monorail project on build operate transfer (BOT) basis until 2029 with the estimated investment around Rs 24.6 billion (USD 501.9 million). Moreover, increasing technological developments and innovations led to change in monorail speeds and the distance it covers is one of the major factors likely to create lucrative growth opportunity to the market in the upcoming years. However, low passengers carrying capacity and availability of alternate modes are few factors anticipated to restraining the growth of global Monorail market during the forecast period 2022-2029.

The key regions considered for the Global Monorail Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific is the dominating region across the world in terms of market share, owing to the large number of proposed monorail projects, increasing demand for efficient passenger transportation service and rapid urbanization in the region. Whereas, North America is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as rise in the space optimization, surge in the technological developments and increase in the traffic congestion in the region would create lucrative growth prospects for the Monorail market across North America.

Major market player included in this report are:
Scomi Engineering BHD
Siemens AG
BYD Company
Bombardier Inc.
Hitachi, Ltd.
Mitsubishi Heavy Industries Ltd.
Urbanaut Monorail Technology
Aerobus International, Inc.
Intamin Bahntechnik
Woojin Industrial System

Recent Developments in the Market:
 In January 2021, Together with the local businesses Orascom Construction S.A.E. and The Arab Contractors (Osman Ahmed Osman & Co.), Siemens Mobility and the National Authority for Tunnels, a governmental organisation under the control of the Egyptian Ministry of Transport, have signed a Memorandum of Understanding (MoU) to design, instal, and commission Egypt's first high-speed rail transportation system. Siemens Mobility will also be offering maintenance services. The agreement includes a 1000-kilometre rail network, the first of which is a 460 km high-speed line. This first high-speed line's order value is close to $3 billion USD.

Global Monorail Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Propulsion, Size, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Straddle Monorail
Suspended Monorail

By Propulsion:
Electric Monorail Systems
Maglev Monorail Systems

By Size:
Large Size
Medium Size
Compact Size

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

Scomi Engineering BHD
Siemens AG
BYD Company
Bombardier Inc.
Hitachi, Ltd.
Mitsubishi Heavy Industries Ltd.
Urbanaut Monorail Technology
Aerobus International, Inc.
Intamin Bahntechnik
Woojin Industrial System

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