Monorail Market Business Opportunities, Competition & Key Companies, Current Trends and Challenges 2019 to 2026

Monorail Market

Monorail System market research report delivers the systematic and comprehensive market research study, along with the facts and figures associated with any subject in the field of marketing. This report has a lot of features to offer about Automotive industry such as the general market conditions, trends, inclinations, key players, opportunities, and geographical analysis. These and such other parameters help to take the business towards the escalation and success. Monorail System market research report has been framed with the most excellent and superior tools of collecting, recording, estimating and analysing market data.

Global Monorail Market is expected to rise to an estimated value of USD 6.38 billion by 2026, registering a steady CAGR of 2.87% in the forecast period of 2019-2026. Rising demand for cost effective public transport system is the major factor for the growth of this market.

Furthermore, the Monorail Market report additionally features market section procedures for different organizations over the globe alongside product examination. The Monorail report likewise distinguishes and investigations the developing patterns alongside real drivers, difficulties and opportunities in Monorail Market. It has likewise secured and dissected the market and gives insights and data on market size, offers and development factors. Monorail report has market information and data which can answer a few market issues in various practical territories of promoting, for example, buyers conduct, product, deals, conveyance channel, evaluating, promotion and physical appropriation.

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Market Definition: Global Monorail Market 

Monorail is railway systems which consist of single rail which are usually made of concrete and metals. These monorails have wheels under the train which were usually in contact with the track. They are used in applications like airport transportation, medium metros etc. They are usually of two types – straddle monorail and suspended monorail. These monorails are usually run on the elevated tracks. These monorails usually have four to eight cars. Increasing urbanization in the developing country is the major factor fuelling the growth of this market.

Market Drivers:

  • Rising urbanization and industrialization is the major factor driving the market growth
  • Technological advancement and development in monorail is driving the growth of this market
  • Increasing prevalence for cost- effective public transport system is driving the market.

Market Restraints:

  • Presence of alternatives modes is restraining the market growth
  • Limited number of manufacturer is another factor restraining market growth

Segmentation: Global Monorail Market 

By Type

  •  Straddle Monorail
  •  Suspended Monorail

By Propulsion

  •  Electric Monorail Systems
  •  Maglev Monorail Systems

By Size

  •  Large Size Segment
  •  Medium Size Segment
  •  Compact Size Segment

By Grade of Automation

  •  GoA0
  •  GoA1
  •  GoA2
  •  GoA3
  •  GoA4

By Autonomy

  •  Manual
  •  Semi- autonomous
  •  Completely- autonomous

By Geography

  • North America
    • US
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • Germany
    • United Kingdom
    • Italy
    • France
    • Spain
    • Russia
    • Turkey
    • Belgium
    • Netherlands
    • Switzerland
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • South Korea
    • India
    • Australia
    • Singapore
    • Thailand
    • Malaysia
    • Indonesia
    • Philippines
    • Rest of Asia-Pacific
  • Middle East & Africa
    • South Africa
    • Egypt
    • Saudi Arabia
    • United Arab Emirates
    • Israel
    • Rest of Middle East & Africa

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Key Developments in the Market:

  • In October 2016, BYD announced the launch of their electric monorail system- Skyrail which has rechargeable batteries. The main aim of the launch is to expand public transportation so that it can become the core business sector after IT, automobiles and new energy. This new skyRail has the capacity to carry 10000 to 30000 passengers in an hour.
  • In August 2016, TC/American Crane Company announced that they have acquired TC/American Monorail Systems, Inc. This acquisition will help the company to expand their business and provide better services to the customers.

Competitive Analysis: Global Monorail Market 

Global monorail market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of monorail market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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Key Market Competitors: Global Monorail Market 

Few of the major competitors currently working in the Global monorail market are Scomi Group Bhd, Siemens, Bombardier,     Hitachi, Ltd., CSR Corporation Limited, MITSUBISHI HEAVY INDUSTRIES, LTD., Einar Svensson, The Urbanaut Company, Inc., Aerobus International, Inc., Intamin Amusement Rides Int, Thales Group, Alstom, Hitachi Rail STS, Ltd., EC21 Inc.

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