About Monorail Systems
Monorail system is a single rail track for passenger. This provides fast and cost-effective solutions for growing cities. The monorail system is easy to install without having spent on expensive track-line constructions. The monorail system is energy efficient, reliability and environment-friendly, which helps to reduce traffic congestion. The major advantage of monorails over conventional rail systems is that it requires minimal space, both horizontally and vertically. Monorail vehicles are wider than the beam, and monorail systems are commonly elevated, requiring only a minimal footprint for support pillars.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 2.82% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies. Analyst at AMA Research estimates that China, Germany Manufacturers will contribute the maximum growth to Global Monorail Systems market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Hitachi Ltd. (Japan), Bombardier Transportation (Canada), SIEMENS AG (Germany), Scomi Engineering Bhd. (Malaysia), Aerobus International Inc. (United States), Mitsubishi Heavy Industries Ltd. (Japan), Intamin Bahntechnik (Germany), CRRC Corporation Limited (China), BYD Company ltd. (China) and Alstom S.A. (France) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Thales Group (France), CSR Corporation Limited (China) and Changchun Rail Vehicles Co. Ltd (China).
Segmentation Overview
AMA Research has segmented the market of Global Monorail Systems market by Type (Straddle Monorail System and Suspended Monorail System), Application (Airport Transportation, Rides and Medium Capacity Metros) and Region.
On the basis of geography, the market of Monorail Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Size, the sub-segment i.e. Large will boost the Monorail Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Propulsion , the sub-segment i.e. Electric will boost the Monorail Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand of Straddle Type of Monorail for Carrying More Number of Passengers
Market Growth Drivers:
Increase in Demand of Public Transport System and Increase in Infrastructure Development
Challenges:
High cost of price
Restraints:
Lower Passenger Carrying Capacity Is Key Restraints in This Market
Opportunities:
Opportunity in Electric Monorail Due To High Demand of Public Transport System across the Globe
Market Leaders and their expansionary development strategies
In April 11, 2023 — Grupo de Empresas Sunrise Monorail has chosen Willowglen Systems for delivering Main Automation Contractor (MAC) services in Panama for the Metro Line 3 Monorail Project, built by Hitachi Rail.
In June 2023, French rolling stock manufacturer Alstom announced the entry into service of the MRT yellow line in Bangkok, a driverless system able to operate at speeds up to 80km/h. The introduction of the 30 four-car monorail trains into service follows the 2017 agreement between the Eastern Bangkok Monorail and Alstom to deliver the turnkey Innovia monorail system.
Key Target Audience
Monorail Systems Manufacturers, Distributer & Supplier Companies and Governments
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.