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Urban Rail Transit Market Growth by Manufactures, Types, Applications and Regions
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The global urban rail transit system is mainly driven by the rapid urbanization. Increasing population across urban area is fueling the demand for fast, safe, and economical mode of transportation, which in turn propelling the global urban rain transit market. According to the World Bank group, the ratio of population living in urban area is about 54% of the total population and it is increasing year on year. Moreover, the increasing pollution, increase in number of on-road vehicles, and increasing fuel prices are surging the demand for urban rail transit system.
Enlarging autonomous level of urban rail transit system is increasing the safety and effectively reducing the travel time, which in turn attracting the passenger to use a public transport mode such as train. Considering the increase in pollution, government of several nations are well focused at reducing the pollution occurring from transportation industry. Train is a significantly less polluting mode of transportation than that of cars and bus, owing to which governing bodies are well focused at enhancing the railway connectivity across the urban area, which in turn is fueling the demand for urban rail transit system.
Major restraint to the global rail transit market is its cost. The cost of a train is not affordable for several nations having critically lower GDP, which is restraining the expansion of global urban rail transit market.
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The global urban rail transit market can be segmented based on transit type, autonomy level, components, and region. In terms of transit type, the global urban rail transit market can be classified into four segments. Sub-urban trains are a prominent mode of connectivity between urban and suburban area. A mass number of passenger transportation occur via sub-urban trains. Metro trains are considered as a rapid, comfortable, and safer mode of transportation, owing to which the metro/subway segment of the global urban rail transit market is expanding with a rapid pace. Metros are witnessing a surged integration of automation and advanced technologies in order to make it more safer mode of transportation.
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