Light Rail

Light Rail

Global Light Rail Market to Reach US$13.4 Billion by 2030

The global market for Light Rail estimated at US$10.0 Billion in the year 2023, is expected to reach US$13.4 Billion by 2030, growing at a CAGR of 4.3% over the analysis period 2023-2030.

The U.S. Market is Estimated at US$2.7 Billion While China is Forecast to Grow at 7.2% CAGR

The Light Rail market in the U.S. is estimated at US$2.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.2% and 3.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.

Global Light Rai Market - Key Trends and Drivers Summarized

The Light Rail market has been a significant sector in the transportation industry, showing consistent growth and a promising future. As urbanization increases and environmental concerns become more pressing, the demand for efficient and sustainable transit solutions like light rail systems has escalated. Modern light rail systems are emerging as a pivotal element in the urban transit landscape, providing significant benefits for city dwellers and the environment. As cities expand and the push for sustainable transit solutions becomes more urgent, light rail systems are being recognized not only for their efficiency but also for their role in enhancing urban living by providing improved connectivity and sustainable travel options. Modern light rail systems are becoming central to urban transit, transforming mobility and reshaping city landscapes through neighborhood renewal and economic growth. This renewal is supported by integrating land use, zoning laws, and economic strategies to ensure that light rail systems contribute positively to community identity and personal daily commute choices.

Governments and urban planners are intensifying efforts to combat urban traffic congestion by promoting public transport as a key solution. The growth of urban areas globally, especially in developing regions, has led to an increase in vehicle numbers, exacerbating congestion and environmental pollution. To address these challenges, initiatives are underway to enhance the attractiveness and efficiency of public transport systems. These include modernizing existing networks, expanding services, and integrating various modes of transport to offer seamless travel experiences, aiming to make public transport a more appealing alternative to private vehicle use.

Environmental consciousness is also shaping public transport trends, with an increasing number of individuals opting for public or shared transport solutions to reduce their carbon footprint. Light rail systems, in particular, are gaining popularity due to their lower emissions compared to other forms of public transport. Additionally, the integration of advanced technologies like artificial intelligence, machine learning, and blockchain is set to improve the performance and reliability of light rail systems, enhancing service quality and operational efficiency. Innovations in IoT and blockchain technology are especially crucial in evolving railway operations, offering new levels of automation, security, and efficiency, which contribute to the overall sustainability and effectiveness of urban transportation networks.

Select Competitors (Total 12 Featured) -

• Siemens AG
• Mitsubishi Electric Coporation
• Bombardier Inc.
• Trinity Industries, Inc.
• Alstom Group
• The Greenbrier Companies
• PKC Group
• Wabtec Corporation
• Nippon Sharyo, Ltd.
• Vossloh AG
• CAF, Construcciones y Auxiliar de Ferrocarriles, S.A.
• Talgo
• Cyient Ltd.
• FreightCar America, Inc.
• The Kinki Sharyo Co., Ltd.
• CRRC Corporation Limited
• Sinara-Transport Machines
• Bradken Pty Limited

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.