Monorail Systems Market: 2019 Global Research Report

Monorail Systems Market 2019 Global Industry Analysis To 2023 is new research report, published by "Market Research Future". Global Monorail Systems Market Information by Monorail Type (Straddle and Suspended), Propulsion Type (Electric and Magnetic levitation), Size (Large, Medium, and Compact), and by Region - Forecast to 2022.

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Monorail Systems Market Insights:

Monorail systems is a single rail track service for passengers. The main key drivers for the growth of the monorail systems are urbanization and increased demand for cost effective & efficient transportation for public services. Straddle monorail by monorail type is estimated to acquire largest share in the global monorail systems market. As straddle monorail system are easy to install without having spent on expensive track-line construction and also provides safety, reliability, and maintainability compared to suspended monorail systems. Furthermore, electric monorail system by propulsion type is estimated to be fastest growing segment in the market of monorail systems as they are energy efficient, reliable and environment friendly. The global Monorail systems market is expected to show a growth at CAGR of about 2.70% from 2016 to 2022.

Rapid urbanization and the presence of large volumes of the population in urban areas has increased the demand for affordable, and efficient modes of transportation in the public sector. Monorails offer a mode of transport which is efficient and cost-effective, this driving the global monorail systems market. The growing applications electric monorail systems will likely provide the market with a significant boost as these systems are energy efficient, reliable and environment-friendly. Although monorails are not new transport, ongoing technological advancement has increased monorail speeds and allows them to cover greater distances. Monorail systems are the optimal choice with regards to space over metros and other public modes of transportation. The increasing need for sustainable transportation to reduce the increasing traffic congestion in large cities is expected to drive the market significantly over the forecast period. Monorails are being used to connect airport terminals and to connect large shopping centers to parking lots. The low cost of installation of such systems is expected to drive the market rapidly.

Among the various key regions that have been covered in MRFR's report, the Asia Pacific regional market is anticipated to capture the leadership position in the global market. The region has rapid infrastructural development taking place, and the increasing demand for efficient passenger modes of transport in emerging economies is growing rapidly. The APAC is heavily populated and is rapidly developing smart cities as well as looking to install prudent transport modes to reduce traffic problems. Countries like India and China are embracing monorail systems as a way to provide transport and decongestion of heavy traffic in metro cities. China has invested in the development of several monorail systems. Other countries in the region where monorail systems are expected to be developed include Korea and Thailand. Europe and North America follow the Asia Pacific in terms of market size.

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