March 4, 2024

Monorail System Market to Rising 21.94 Percent Till 2027

[150+ Pages Report] As per the latest Research and survey report issued by Precedence Research, the global monorail system market size is expected to register revenues worth USD 180.48 billion by the end of 2027, growing at an exceptional CAGR of approximately 21.94% between 2020 and 2027.

Monorail System

Download Free Sample Copy with TOC@

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.

Report Scope of the Monorail System Market
Report HighlightsDetails
Market SizeUSD 180.48 Billion by 2027
Growth RateCAGR of 21.94% from 2020 to 2027
Largest MarketAsia Pacific
Fastest Growing MarketNorth America
Base Year2021
Forecast Period2021 to 2027
Segments CoveredType, Autonomy, Propulsion Type, Autonomous, Size, Geography
Companies MentionedBombardier Corporation, CRRC Corporation Limited, Hitachi Rail, Ansaldo STS, BYD Company ltd, General Electric, Alstom S.A., Thales Group, SIEMENS AG, Mitsubishi Electric, ABB

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.

Scope of the Report

A recent study by Precedence Research on the monorail system market offers a forecast for 2020 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.
Competition Landscape

The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicle. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter. This chapter is priceless for report readers, as its enables them in gauging their growth potential in the market and implement key strategies for extending their market reach.

This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably. Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials and company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.

Some of the prominent players in the monorail system market include:
  • Bombardier Corporation
  • CRRC Corporation Limited
  • Hitachi Rail
  • Ansaldo STS
  • BYD Company ltd
  • General Electric
  • Alstom S.A.
  • Thales Group
  • Mitsubishi Electric
  • ABB

Ask Here For More Customization Study@

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 Size 

  • Large
  • Medium
  • Compact

By Autonomous

  • GoA0
  • GoA1
  • GoA2
  • GoA3
  • GoA4

Regional Segmentation

  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
  • North America [United States, Canada, Mexico]
  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Middle East & Africa [GCC, North Africa, South Africa]

Read Also@ Electric Vehicle Charging Station Market to Witness Significant Growth by 2030

Regional Analysis

The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2019 to 2027. These analyses will help the reader to understand the potential worth of investment in a particular region.

The report provides in-depth segment analysis of the global monorail system market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the monorail system market.

The report includes country-wise and region-wise market size for the period 2019-2027. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2027.

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 Contents

Chapter 1. Introduction

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Market Variables and Scope

Chapter 5. Market Dynamics Analysis and Trends

Chapter 6. Competitive Landscape

Chapter 7. Global Monorail System Market, By Product

Chapter 8. Global Monorail System Market, By Autonomy

Chapter 9. Global Monorail System Market, By Propulsion Type

Chapter 10. Global Monorail System Market, By Autonomous Type

Chapter 11. Global Monorail System Market, Regional Estimates and Trend Forecast

Chapter 12. Company Profiles

Chapter 13. Research Methodology

Chapter 14. Appendix

Buy This Premium Research Report Click Here@

About Us

Precedence Research is a Canada/India based company and one of the leading providers of strategic market insights. We offer executive-level blueprints of markets and solutions beyond flagship surveys. Our repository covers consultation, syndicated market studies, and customized research reports. Through our services we aim at connecting an organization’s goal with lucrative prospects globally.

From gauging investment feasibility to uncovering hidden growth opportunities, our market studies cover in-depth analysis, which also is interspersed with relevant statistics. Recommendation are often enclosed within our reports with the sole intent of enabling organizations achieve mission-critical success.

Contact Us:                  

Precedence Research

Apt 1408 1785 Riverside Drive Ottawa, ON, K1G 3T7, Canada

Call: +1 9197 992 333



Janet Edward

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

View all posts by Janet Edward →