Global Light Rail Market 2024-2028
Global Light Rail Market 2024-2028
The light rail market is forecasted to grow by USD 3740.7 mn during 2023-2028, accelerating at a CAGR of 4.1% during the forecast period. The report on the light rail market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rapid growth of urban areas, growing need for reduction of traffic congestion, and increasing demand for sustainable transportation.
Technavio's light rail market is segmented as below:
By Type
- High capacity light rail
- Low capacity light rail
By Application
- Intra-city transport
- Inter-city transport
By Geographical Landscape
- Europe
- APAC
- North America
- Middle East and Africa
- South America
This study identifies the high investment by governments in light rail as one of the prime reasons driving the light rail market growth during the next few years. Also, increasing number of collaborations and partnerships in light rail market and rising adoption of autonomous light rail will lead to sizable demand in the market.
The report on the light rail market covers the following areas:
- Light rail market sizing
- Light rail market forecast
- Light rail market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading light rail market vendors that include ALSTOM SA, CRRC Corp. Ltd., General Electric Co., Hitachi Ltd., Hyundai Heavy Industries Group, Kawasaki Heavy Industries Ltd., Kintetsu Group Holdings Co. Ltd., Knorr Bremse AG, Mitsubishi Heavy Industries Ltd., Mott MacDonald, Parsons Corp., Pesa Group, Samvardhana Motherson International Ltd., Schunk GmbH, Siemens AG, Stadler Rail Ag, SYSTRA SA, Thales Group, WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP., and WSP Global Inc.. Also, the light rail market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.