According to a new market report published by Lucintel, the future of the global automotive monorail system market looks promising with opportunities in large size, medium size and compact size segments. The global automotive monorail system market is expected to grow with a CAGR of 3% from 2021 to 2026. The major drivers for this market are increasing prevalence for cost-effective public transport system, lower cost of construction and growing demand for electric monorails.
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In this market, straddle monorail and suspended monorail are used in automotive monorail system. On the basis of comprehensive research, Lucintel forecasts that straddle monorail will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to the capability of carrying a greater number of passengers than suspended monorail systems and easy to install without having spent on expensive track-line construction and also provides safety, reliability, and maintainability.
Within the global automotive monorail system market, the maglev segment is expected to witness the highest growth over the forecast period because they are efficient in operation and are cheaper in terms of installation costs.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to infrastructural development and increasing demand for efficient passenger transportation service in the economically emerging countries, like China and India.
Emerging trends, which have a direct impact on the dynamics of the industry, include rising urbanization and industrialization, technological advancement and development in monorail, and development of infrastructure and transportation. Scomi Engineering Bhd, Siemens AG, Bombardier Inc., Hitachi, Ltd., Mitsubishi Heavy Industries Ltd., Urbanaut Monorail Technology Inc., Intamin Bahntechnik, and Woojin Industrial System are among the major suppliers of the automotive monorail system market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive monorail system market by type, propulsion, size, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Automotive Monorail System Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global automotive monorail system market by type, propulsion, size, and region, as follows:
By Type [Value ($ Million) from 2015 to 2026]:
Straddle Monorail
Suspended Monorail
By Propulsion [Value ($ Million) from 2015 to 2026]:
By Size [Value ($ Million) from 2015 to 2026]:
Larger Size
Medium Size
Compact Size
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
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