Monorail Systems Market to Exceed USD 5.3 Bn through 2021, Announces M&M in Its Topical Research Study Recently Uploaded at MarketPublishers.com
21 Dec 2016 • by Natalie Aster
LONDON – The world’s monorail systems market is likely to reach USD 5.36 billion by the year 2021. As of the current year, the market is evaluated at around USD 4.68 billion. Driven by various forces, including ongoing infrastructure improvements and strong demand for public transport systems in the developing countries, the global market for monorail systems is expected to register a CAGR of 2.75% over the period 2016-2021. Ease of installation and cost effectiveness are two other key drivers of the market growth.
On the basis of applications, the electric monorail systems segment dominates the total market for monorail systems, and this segment is anticipated to enjoy the highest growth rate through 2021. In comparison to maglev type monorail systems, electric monorail systems see higher demand due to their environmental friendliness, reliability, efficiency, economic feasibility and ease adaptability. Owing to these benefits, the electric monorail systems market is set to beat the market for maglev type monorail systems.
Region-wise, APAC is recognised as the fastest growing market for monorail systems from pole to pole. Robust growth in this regional market is fueled by the rising infrastructural development in the APAC countries, steady economic growth and escalating demand for alternative transportation in the region.
The leading participants in the world’s market for monorail systems include Bombardier Transportation, Scomi Engineering Bhd., Mitsubishi Heavy Industries, Urbanaut Monorail Technology.
New report “Monorail Systems Market by Type, Propulsion Type, Size, and Region - Global Forecast to 2021” drawn by MarketsandMarkets (M&M) provides a bird’s eye view of the worldwide monorail systems market landscape. It presents an overview of the current scenario in the monorail systems market across different regions (North America, Asia-Pacific, Europe, and RoW). An insightful analysis of the market competitive environment, profiles of 10 leading market players, SWOT analysis, data on the recent developments and product launches are included in the report. Moreover, the publication uncovers info on the market size, share and segmentation and also identifies future growth prospects and opportunities. In addition, the key market growth driving factors, challenges, restraints as well as hinders are also canvassed here. Future forecasts for the global monorail systems market up till 2021 are available in the research report, too.
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