Monorail System Market Pegged for Robust Expansion During 2017-2025

Global Monorail System Market: Introduction

In the era of the 21st century, emerging technologies have paved the way to develop optimized solutions for rail systems. The monorail system is a growing market offering solutions for urban transportation. Monorail system, an advanced transportation mode, runs on a single rail – which acts as the support as well as guides it. Typically, these are installed in urban cities to solve the transportation issues in highly populated areas. The monorail system is differentiated into two types: straddled-type and suspended-type systems. Straddled-type monorails, as the name suggests, travel by straddling the single beam track, with the center of gravity lying above the track. Suspended-type monorails travel by being suspended over the track, with its center of gravity lying under the track. Monorail system market is expected to be growing in the coming years.

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Increasingly, the monorail system is not only limited to urban transportation, but also introduced in amusements, agricultural purpose, and sightseeing. Technology leaders are introducing technical advancements in monorail systems to the market. Although bullet trains and other transportation modes are expanding, the monorail system market continues to evolve and grow. There is rapid growth in the monorail system with changing technology and innovations. Monorail systems come three sizes: small (cross-sectional view 700W X 1,500H), medium (cross-sectional view 800W X 1,400H) and large (cross-sectional view 850W X 1,500H). The medium and large monorail systems have high ridership demand in large metropolitan cities, especially during peak hours. Monorail systems can supply up to 20,000 pphpd (passengers per hour per direction) and can carry up to 125,000 passengers daily. Monorail systems can boast of some key advantages over other transportation methods. It’s simple and environment-friendly, narrowly guided as compared to the width-wide bridge structure required by other transit rail systems. The narrow guideway allows sunlight to the surface street and surrounding residential /commercial area. Air flow is not blocked to/ from and it’s pollution free – no exhaust gasses are released from cars.

Global Monorail System Market: Segmentation

Global monorail system market is segmented on the basis of type, propulsion, and size.

Monorail systems segmented on basis of propulsion: Electric, Maglev. Monorail systems segmented on basis of type: Straddling, Suspended. Monorail systems segmented on basis of size: Small, Medium, Large.

Global Monorail System Market: Key Trends and Drivers

The electric type monorail system comes at a low installation cost and is easy to operate; these two factors are expected to drive the monorail system market. Monorails are easily adopted and are economical – which will ensure that this market continues its upward trend. Maglev monorail system is relatively new technology and is more cost intensive than the electric type monorail system. Monorail manufacturers are expanding regionally to push through in different regions. Monorail systems are used primarily in developing countries for transportation, many of them running through crowded areas with elevated tracks to ease traffic woes which drives the monorail system market. A major restraint is the maglev monorail installation cost is high; further advancements in the monorail system are needed to overcome this. More research and development is needed on maglev propulsion; while reducing the installation cost – which is another major restraint.

Global Monorail System Market: Regional Outlook

The Asia-pacific region is expected to have the predominant market share in the coming years. The increasing demand for public transport in Asia-pacific regions is going to increase the monorail system market. The monorail system market growth rate is estimated to increase in fast-developing countries like China, India, and South Korea. Rising urban development and growing necessity of urban transport is to drive the growth of the monorail system market.

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Global Industrial Vehicle Market: Key Players

Examples of some of the market participants in the global monorail system market: Aerobus International, Inc., Mitsubishi Heavy Industries, Ltd., Bombardier Transportation, Scomi Engineering Bhd., Hitachi, Ltd., and Intamin Bahntechnik & Betriebsgesellschaft mbH & Co. KG.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

Swapna work as a Sr. Digital Marketing Consultant with Persistence Market Research, an New York based market Intelligence Company which analyzes various markets and estimate the growth opportunities of the market in the future.