Monorail Market 2020: The Rising Demand for Cost Effective Public Transport System Impacting the Growth By 2.87% CAGR| Global Players- Scomi Group Bhd, Siemens, Bombardier, Hitachi, Ltd.
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.
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.
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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.
Major Market Players Covered in The Battery Thermal System Market Are:
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.
• 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.
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Global Battery Thermal System Market Scope and Segments
• Large Size Segment
• Medium Size Segment
• Compact Size Segment
By Grade of Automation
• Semi- autonomous
• Completely- autonomous
• Middle East and Africa
• North America
• South America
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Strategic Points Covered in Table of Content of Global Battery Thermal System Market:
2. Market Segmentation
3. Market Overview
4. Executive Summary
5. Premium Insights
6. By Component
7. Product Type
9. Industry Type
11. Company Landscape
12. Company Profiles
13. Related Reports
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