Monorail Systems Market Expected to Reach 5.36 Billion USD by 2021
The report "Monorail Systems Market by Type (Straddle, and Suspended), Propulsion Type (Electric, and Maglev), Size (Large Monorail, Medium Monorail, and Compact Monorail), and Region - Global Forecast to 2021", The global monorail systems market is estimated to be USD 4.68 Billion in 2016, and is projected to grow at a CAGR of 2.75% from 2016 to 2021, to reach USD 5.36 billion by 2021. The growth of this market is fueled by urbanization and increased demand for efficient & cost effective public transport systems in the emerging economies. Browse 63 market data tables 43 figures 116 pages and in-depth TOC on â€œMonorail Systems Market â€?
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Source: MarketsandMarkets Analysis
The global monorail systems market, in terms of value, is projected to grow at a CAGR of 2.75% from 2016 to 2021. The market is estimated to be USD 4.68 billion in 2016, and is projected to reach 5.36 Billion by 2021. Increase in urbanization has led to increase in demand for alternative transportation which has driven the monorail system industry. The global market has been segmented by size into large, medium, and compact. The large type monorail system is expected to account for the largest market share, by value, in 2016. This can be attributed to increased demand for public transport systems. There is increase in demand to install monorail systems in developing countries such as India, China, South Korea and Brazil due to increase in urbanization rate. The Asia-Pacific region is estimated to dominate the monorail systems market, in terms of value, in 2016, as it comprises some of the fastest developing economies in the world, including China, India, and South Korea. This has led to an increase in monorail systems installation volumes in recent years, with OEMs catering not only to the domestic demand but to overseas demand as well. The ecosystem of the monorail systems industry consists of manufacturers such as Bombardier Transportation (Canada), Hitachi, Ltd. (Japan), Scomi Engineering Bhd. (Malaysia), Aerobus International, Inc. (USA), Mitsubishi Heavy Industries, Ltd. (Japan), Intamin Bahntechnik (Switzerland), Urbanaut Monorail Technology (USA) and research institutes such as the Japan Monorail Association (JMA), International Monorail Association (IMA), and The Monorail Society (TMS).
Target Audience: • • • • • • •
Monorail Manufacturers Monorails material suppliers Industry associations and experts The Monorail Society Railroad Authorities/Organizations Industry Experts OEMs
Scope of the Report: By Type: • •
By Propulsion: • •
By Size • • •
Large Medium Compact
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