PUNE, India, December 2, 2016 /PRNewswire/ --
The report "Monorail Systems Market by Type (Straddle, and Suspended), Propulsion Type (Electric, and Maglev), Size (Large Monorail, Medium Monorail, and Compact Monorail), and Region - Global Forecast to 2021", published by MarketsandMarkets, the global market is estimated to be USD 4.68 Billion in 2016, and is projected to grow at a CAGR of 2.75% from 2016 to 2021, to reach USD 5.36 Billion by 2021.
Browse 62 market data Tables and 47 Figures spread through 121 Pages and in-depth TOC on "Monorail Systems Market"
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The growth of this market is fueled by urbanization and increased demand for efficient & cost effective public transport systems in the emerging economies.
Straddle type monorail system to hold the largest share in the global Monorail Systems Market, by type
The straddle type monorail system is estimated to account for the largest share in the global Monorail Systems Market. The primary advantage of straddle type monorail system is that they are easy to install even in the compact areas due to which construction of expensive underground lines can be avoided. Straddle type systems offer better safety, reliability, availability and maintainability compared to suspended type monorail systems and is widely used by many countries like China, U.S.A., Japan, India, South Korea, and others.
Electric Monorail Systems: A promising market due to the increase in global trade
Electric monorail systems are expected to hold the largest share, in term of value, in the global Monorail Systems Market. This can be attributed to the growing need of efficient and effective public transport systems. The demand is expected to increase in emerging economies such as China, India, South Korea, and Brazil, where new infrastructure projects for light rail transit are being launched. The demand for electric monorail systems is high in developed countries such as Japan, Germany, U.S.A, and U.K.
Asia-Pacific: Largest market for monorail systems
Asia-Pacific is estimated to account for the largest share, in terms of value, of the global Monorail Systems Market in 2016. The region comprises some of the fastest developing economies in the world, including China, India, and South Korea. This has led to an increase in monorail systems installation volumes over the years, with OEMs catering not only to the domestic demand but to overseas demand as well.
The report analyzes all major players in the Monorail Systems Market, including Bombardier Transportation (Canada), Hitachi, Ltd. (Japan), Scomi Engineering Bhd. (Malaysia), Aerobus International, Inc. (USA), Mitsubishi Heavy Industries, Ltd. (Japan), Intamin Bahntechnik (Switzerland), Urbanaut Monorail Technology (USA).
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