Global Monorail System Market 2017-2021
About Monorail System
A monorail is a railway system that uses a single rail track and acts as a mode of mass rapid transport (MRT). It uses equipment and infrastructure, which is less massive than the heavy rail modes, such as commuter and metro rail systems or subways.
Technavio’s analysts forecast the global monorail system market to grow at a CAGR of 3.07% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global monorail system market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Monorail System Market 2017-2021
Technavio recognizes the following companies as the key players in the global monorail system market: Bombardier, Hitachi, MitsubishI Heavy Industries and Siemens.
Other Prominent Vendors in the market are: Alstom, Bradken, CAF, CRRC, DCD Rail, Downer Group, Éolane, INTAMIN Deutschland, Japan Transport, Engineering Company, JSC Dneprovagonmash, Newag S.A., PKC Group, Promtractor-Vagon CJSC, Scomi Engineering Bhd, Sinara Transport Machines, Skoda Transportation, The Greenbrier Companies and The Urbanaut Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of PPP model in developing countries. The PPP model leads to the sharing of capital and the risks associated with the project. In addition, government participation accelerates the delivery time of the project.”
According to the report, one driver in the market is growing urbanization. Growing urbanization leads to an increase in mobility and accelerates the demand for high-capacity public transportation solutions, especially in congested cities and areas. Growing urbanization and increased mobility have increased the demand for monorails and passenger coaches in the urban rail transit market. Urban rail transit comprises various types of light and high rail systems, which provide passengers services within or around urban areas.
Further, the report states that one challenge in the market is high expenditure of overhauling and maintenance. Rolling stock manufacturers incur high expenditure on overhauling and maintenance on their production units and machinery. The expenditure incurred primarily involves repairs or maintenance of equipment and machinery involved in the production, the cost incurred on the setup of new machinery, maintenance of manufacturing sites, and the cost involved in storing and maintaining raw materials. These costs increase the CAPEX of the vendor, exerting financial pressure on the company.
Bombardier, Hitachi, MitsubishI Heavy Industries and Siemens, Alstom, Bradken, CAF, CRRC, DCD Rail, Downer Group, Éolane, INTAMIN Deutschland, Japan Transport, Engineering Company, JSC Dneprovagonmash, Newag S.A., PKC Group, Promtractor-Vagon CJSC, Scomi Engineering Bhd, Sinara Transport Machines, Skoda Transportation, The Greenbrier Companies and The Urbanaut Company.
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