Press release
Monorail Market – Scomi Group Bhd, Siemens, Bombardier, Hitachi, Ltd., CSR Corporation Limited, MITSUBISHI HEAVY INDUSTRIES, LTD., Einar Svensson, The Urbanaut Company
Monorail Market overview
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.
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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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