The global Monorail System market size is expected to surpass around US$ 180.48 billion by 2027 and the market is expected to garner growth at a CAGR of 21.94% over the forecast period 2021 to 2027.
The Monorail System market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.
Growth Factors
The global monorail systems market is largely driven by the rising demand for public transportation system and increasing infrastructure development in the emerging nations. Furthermore, rising traffic congestion and need for reliable and fast-transport system is also driving the market significantly. Monorails offer several advantages over the metro system such as space optimization in installation along with environment friendly means of commutation. In addition, increasing traffic congestion especially in Asian countries has led the government to invest significantly on the monorail projects. For instance, China, India, Korea, Japan, and other ASEAN countries are largely focused on developing monorails for intra-city travel to reduce the travelling time and regulate the pollution in the region.
However, lack of research & development and innovation in the monorail system along with manufacturing cost and cost of installation for monorail hinder the market growth. Nevertheless, rising government initiatives for monorail rail expected to fuel the market growth during the forecast period.
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Market Report Scope
| Report Highlights | Details |
| Market Size | USD 180.48 Billion by 2027 |
| Growth Rate | CAGR of 21.94% from 2020 to 2027 |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Base Year | 2021 |
| Forecast Period | 2021 to 2027 |
Market Overview
A recent study by Precedence Research on the Monorail System market offers a forecast for 2021 and 2027. The study analyzes crucial trends that are currently determining the growth of the Monorail System market. This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of Monorail System. The study also provides the dynamics that are responsible for influencing the future status of the Monorail System market over the forecast period.
A detailed assessment of the Monorail System market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the Monorail System market along with their product portfolio enhances the reliability of this comprehensive research study.
Report Highlights
- The Asia Pacific seeks to be the most opportunistic market during the forecast period. The significant growth of the region is majorly attributed to the rising urbanization, ever-increasing population, and rising investment on public transportation. In addition, need for environment-friendly mass transit system also propel the market growth prominently.
- North America and Europe are the noticeable market players that contribute significantly to the market revenue. Being technologically developed and significant initiative by the government to reduce the carbon footprint in the region monorail is the preferred choice for mass transit in the region.
- By propulsion type, electric monorails are the preferred choice over maglev monorail as they are more economical and suitable for intra-city travel. However, maglev trains have very high speed of more than 500 kilometers per hour that makes it unsuitable for short distance travel. Furthermore, it costs more in manufacturing and maintenance.
- GoA2 dominated the automation segment with magnificent revenue share in the global monorail system market. Benefits offered by the GoA2 grade of automation over other grades such as less cost of installation compared to GoA3 & GoA4. In addition, they are operated under surveillance that helps to prevent from accident. However, GoA3 & GoA4 are fully automated monorail grades that possess high level of safety & punctuality.
- Asia Pacific is projected as the most opportunistic region during the forecast period. The vital factor attributed to this potential is ever increasing population, rapid urbanization, and increasing traffic congestion in this region. The governments of Asian countries are largely investing on public transportation and infrastructure development. As of Asian Development Bank, the Asia Pacific requires USD 8.4 Tn of finance by 2030 for transport projects and development. In addition, rising monorail projects in China, India, and ASEAN countries are expected to further drive the market growth prominently.
- On the other hand, North America and Europe are the prominent regions in the global monorail systems market. The regions offer significant growth opportunity being technologically advanced and pre-adopter of advanced technologies. Furthermore, Europe is constantly focusing on reducing the carbon footprint in the region and has launched several directives and norms related to carbon emission.
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OBJECTIVES OF THE STUDY
- To analyze and forecast the electric motor market, in terms of value and volume
- To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To define, segment, and project the size of the global electric motor market on the product type, end-use and other segments
- To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
- To strategically analyze micro markets with respect to individual growth trends, growth prospects, and their contribution to the total market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- To strategically profile key players and comprehensively analyze their core competencies
- To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the electric motor market
Research Methodology
- Market estimate for 2020
- Average selling price (ASP) per region for specific product type
- Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
- Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
- National government documents, statistical databases
- News articles, press releases, and webcasts specific to companies operating in the market
- Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
- Determination of market penetration by country
Read More About Monorail System Market Market https://www.globenewswire.com/en/news-release/2021/06/22/2251408/0/en/Monorail-System-Market-Size-to-Hit-Around-US-180-48-Bn-by-2027.html
Major Players Covered in this Report
The updated market research report on electric motor market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Major key players operating in the market are
- Bombardier Corporation
- CRRC Corporation Limited
- Hitachi Rail
- Ansaldo STS
- BYD Company ltd
- General Electric
- Alstom S.A.
- Thales Group
- SIEMENS AG
- Mitsubishi Electric
- ABB
Segments Covered in the Report
By Type
- Straddle Monorail
- Suspended Monorail
By Autonomy
- Semi-autonomous
- Completely Autonomous
- Manual
By Propulsion Type
- Electric Monorail
- Maglev Monorail
By Autonomous
- GoA0
- GoA1
- GoA2
- GoA3
- GoA4
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
Why should you invest in this report?
If you are aiming to enter the global Monorail System market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Monorail System are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027, so that you can plan your strategies to enter this market accordingly. Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Monorail System Market, By Product
7.1. Monorail System Market, by Product Type, 2020-2027
7.1.1. Suspended Monorail
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Straddle Monorail
7.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Monorail System Market, By Autonomy
8.1. Monorail System Market, by Autonomy, 2020-2027
8.1.1. Semi-autonomous
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Manual
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Completely Autonomous
8.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Monorail System Market, By Propulsion Type
9.1. Monorail System Market, by Propulsion Type, 2020-2027
9.1.1. Maglev Monorail
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Electric Monorail
9.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 10. Global Monorail System Market, By Autonomous Type
10.1. Monorail System Market, by Autonomous Type, 2020-2027
10.1.1. GoA0
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. GoA1
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. GoA2
10.1.3.1. Market Revenue and Forecast (2016-2027)
10.1.4. GoA3
10.1.4.1. Market Revenue and Forecast (2016-2027)
10.1.5. GoA4
10.1.5.1. Market Revenue and Forecast (2016-2027)
Chapter 11. Global Monorail System Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2016-2027)
11.1.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.1.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.1.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Product (2016-2027)
11.1.5.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.1.5.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.1.5.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Product (2016-2027)
11.1.6.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.1.6.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.1.6.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2016-2027)
11.2.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.2.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.2.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Product (2016-2027)
11.2.5.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.2.5.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.2.5.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Product (2016-2027)
11.2.6.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.2.6.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.2.6.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Product (2016-2027)
11.2.7.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.2.7.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.2.7.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Product (2016-2027)
11.2.8.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.2.8.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.2.8.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2016-2027)
11.3.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.3.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.3.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
11.3.5.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.3.5.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.3.5.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Product (2016-2027)
11.3.6.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.3.6.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.3.6.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Product (2016-2027)
11.3.7.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.3.7.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.3.7.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Product (2016-2027)
11.3.8.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.3.8.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.3.8.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2016-2027)
11.4.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.4.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.4.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
11.4.5.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.4.5.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.4.5.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Product (2016-2027)
11.4.6.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.4.6.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.4.6.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Product (2016-2027)
11.4.7.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.4.7.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.4.7.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Product (2016-2027)
11.4.8.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.4.8.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.4.8.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2016-2027)
11.5.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.5.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.5.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Product (2016-2027)
11.5.5.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.5.5.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.5.5.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Product (2016-2027)
11.5.6.2. Market Revenue and Forecast, by Autonomy (2016-2027)
11.5.6.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
11.5.6.4. Market Revenue and Forecast, by Autonomous Type (2016-2027)
Chapter 12. Company Profiles
12.1. Bombardier Corporation
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. CRRC Corporation Limited
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Hitachi Rail
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Ansaldo STS
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. BYD Company ltd
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. General Electric
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Alstom S.A.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Thales Group
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. SIEMENS AG
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Mitsubishi Electric
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. ABB
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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