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(2024-2033) Automated People Mover Market Share, Size, Overview, Analysis, Trends, Growth And Outlook
Automated People Mover Market Share
As per the report, the automated people mover market size has grown strongly in recent years. It will grow from $2.59 billion in 2023 to $2.76 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The automated people mover market size is expected to see strong growth in the next few years. It will grow to $3.59 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
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Rising Demand For Public Transportation Fuels Growth In The Automated People Mover Market
The increasing demand for public transportation is expected to propel the growth of the automated people mover market going forward. Public transit refers to the system of vehicles and infrastructure operated by a government or private entity designed to provide shared transportation services to the general public. The demand for public transportation is increasing due to several factors, such as infrastructure investments, population growth, urbanization, and environmental concerns. APMs reduce obstruction in public transportation by seamlessly integrating with subways, buses, and trains, offering automated transit options. This integration creates a cohesive system, making city travel more accessible for passengers. For instance, in April 2024, according to the American Public Transportation Association, a US-based non-profit group, transit travelers took 7.1 billion trips on public transportation in 2023, up 16% from 2022. Therefore, the increasing demand for public transportation drives growth in the automated people-mover market.
Advancements In Automated People Mover Systems For Enhanced Urban Mobility
Major companies operating in the automated people mover market are developing advanced driverless train systems to reduce automobile congestion and traffic and provide a quick and efficient mobility choice. A driverless train system is a form of rapid transit system that runs without an onboard driver or conductor, allowing for accurate train positioning and wireless communication between trains and trackside equipment for safe operation. For instance, in August 2022, a US-based international airport company, Los Angeles International Airport (LAX), launched the first automated people mover (APM) train car. The trains will have a capacity of up to 200 passengers and travel at a speed of 47 mph. The train cars are 98% recyclable and will reduce pollution by reducing the number of automobiles entering the airport's primary terminal area. The maintenance and storage building features solar panels and high-efficiency mechanical and electrical systems. Each train car contains four vehicles with more extensive doors to accommodate passengers and their belongings.
The automated people mover market covered in this report is segmented -
1) By System Type: Monorail, Duo Rail, Automated Guide Way Transit Or Maglev
2) By Technology: Conventional, Driverless, Hybrid
3) By Capacity: Low, Medium, High
4) By Application: Airport, Urban Transit, Amusements Parks, Shopping Or Commercial Centers, Other Applications
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Major companies operating in the automated people mover market are BYD Company Ltd., Mitsubishi Heavy Industries Ltd., Thales, Alstom SA, Kawasaki Heavy Industries Ltd., Siemens Mobility, IHI Corporation, Westinghouse Electric Company, Stadler Rail AG, Hyundai Rotem Company Ltd., TPI Composites Inc., Vossloh, Von Roll, Doppelmayr Seilbahnen GmbH, Hitachi Rail Ltd., CAF Power & Automation, LEITNER, Intamin Transportation Ltd., POMA, PT Len Industri
Contents of the report:
1. Executive Summary
2. Automated People Mover Market Report Structure
3. Automated People Mover Market Trends And Strategies
4. Automated People Mover Market - Macro Economic Scenario
5. Automated People Mover Market Size And Growth
…..
27. Automated People Mover Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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