Urban Rail Transit Market to Reach US$ 59 Bn by 2031; Public-Private Partnership Model for Development of Urban Public Transport to Propel Market, Notes TMR

ALBANY, N.Y., Oct. 5, 2021 /PRNewswire/ --

Urban Rail Transit Market – Overview

The growing government spending on modern public transportation for decongesting urban traffic is a key factor driving the urban rail transit market. Governments in major cities of the world are working to have urban rail transit systems in place for faster and easy movement of commuters. Changing mobility trends in urban areas of emerging countries for safe, faster, and affordable travel solutions make urban rail transit systems sought after. The success of Delhi Metro in India for the large volume of every day commuters has provided confidence for such projects in other parts of the country. Such undertakings fuel the growth of the urban rail transit market.

The gradual increase in passenger movement and ridership with declining COVID-19 cases is kick-starting revenue flow in the urban rail transit market. Prior to this, public transportation services were severely hit due to lockdowns that imposed strict restrictions on the movement of individuals. Thus, due to a long period of slump, revenues that are attractive to offset losses will be over a period of time. The urban rail transit market is projected to expand at a CAGR of 3.3% from 2021 to 2031.

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Urban Rail Transit Market – Key Findings of Report

Plan to Integrate Light Rails with Public Transportation Systems to Expand Market Horizon

The light rail service is emerging as an effective solution for urban transportation needs. Advantages of light rail of high passenger capacity per hour and lower operating cost per passenger is catching the attention of city planners. For such reasons, transportation departments are evaluating the parameters to integrate light rail with public transportation systems. The scenario is in the pipeline in Sydney to make light rail a part of the public transportation system. This fuels the urban rail transit market.

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Spectrum of Technologies, Wireless Communication Networks Underpin Conceptualization of Intelligent Urban Rail Transit Systems

The linking of information and communication technology (ICT)-enabled applications with intelligent urban rail transit systems is creating new frontiers in the urban rail transit market. The complex network of urban rail transit systems with multi-line centralized operations is compelling companies in the urban rail transit market to opt for cloud solutions.

The prevailing trend of carrying out fully automated operations of rail transit networks using ICT-enabled solutions is enhancing the experience for users opting for rail transit systems. The use of IP-based systems offer large transmission bandwidths for wireless communication, and the proliferation of enhanced machine type communication (eMTC) and IoT further provide assistance for smooth functioning of urban rail transit systems.

The role of some technology companies to provide solutions for automated operations is well-received by stakeholders in the urban rail transit market. The technological features of driverless metro in Delhi is a case in point.

The use of technology is not limited to automated operations and wireless communication in urban rail transit systems. The deployment of CCTV cameras and multimedia advertising to keep the interest of stakeholders in the value chain is also a part of the technology used in urban rail transit systems. These pursuits collectively stimulate growth in the urban rail transit market.

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Partnerships, Collaborations among Several Agencies for Execution of Operations Elevate Consumer Experience

The execution of operations in urban rail transit systems involves a number of agencies to work in cohesion. This involves collaboration and partnering between primary agency and government departments, consultation firms, and private vendors for enhanced experience of passengers.

Urban Rail Transit Market – Growth Drivers

• Extensive consideration of national urban public transport authorities and PPP policymakers, especially in developing countries for urban public transport systems fuels growth of the urban rail transit market
• Conceptualization of intelligent urban rail transit systems assisted by a spectrum of technologies and wireless communication networks promising growth of the urban rail transit market

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Urban Rail Transit Market – Key Players

Some of the key players operating in the urban rail transit market are CRRC Corp Ltd., Larsen & Toubro Limited, Kawasaki Heavy Industries Ltd, Alstrom, Siemens AG, and Hitachi Ltd.

Global Urban Rail Transit Market: Segmentation

• Urban Rail Transit Market, by Rail Type
• Metro/Subway
• Monorail
• Suburban
• Tram
• Urban Rail Transit Market, by Autonomy
• Manual
• Semi-autonomous
• Fully Autonomous
• Urban Rail Transit Market, by Autonomy Level
• GoA-0 (On-sight)
• GoA-1 (Manual)
• GoA-2 (Semi-automatic Train Operation [STO])
• GoA-3 (Driverless Train Operation [DTO])
• GoA-4 (Unattended Train Operation [UTO])
• Urban Rail Transit Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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