As opposed to the conventional railway systems, the track of a monorail system consists of a single rail. In addition to offering optimal solutions for urban transportation, these systems have found widespread acceptance in amusement parks, for sightseeing, and agricultural purposes.
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According to the report added by Progressive Markets, the Global Monorail Systems Market is expected to grow at a significant CAGR during the forecast period. The report, titled "Global Monorail Systems Market- Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025", presents a comprehensive analysis of the key market factors responsible for the growth or failure of the market and outlines the monorail systems market trends to assist the organizations in capitalizing on the top investment pocket to gain maximum returns.
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Drivers, Restraints, and Opportunities:
Several factors contribute to the overall growth and development of the monorail systems market. The significant growth of the industry can be attributed to their added benefits over the conventional railway systems.
The low cost of implementation of monorail systems is the major driving force responsible for the growth of the market. These systems offer space optimization by occupying minimal area and are easy to operate, thus driving the industry's growth.
However, the high cost of installation of maglev monorail systems is expected to impede the expansion of the market. In addition, the lack of market penetration also hinders the growth of the monorail systems market.
The industry offers a wide range of opportunities for entry-level organizations and new entrants to grow and set a strong foothold in the market.
Monorail Systems Market Key Segments:
Monorail systems market analysis is provided for four major market segments, classified based on the type, propulsion, size, and the geography. Based on the type, the market is divided into straddling monorail and suspended monorail.
By medium of propulsion, the market is further classified as electric monorail system and maglev monorail system.
The market is bifurcated into small segment, medium segment, and large segment based on the size of the system. The presence of the market is identified across the regions of Europe, Asia-Pacific, North America, and LAMEA.
The monorail systems market shares analysis is provided for each of the mentioned market segments, thus providing a critical insight into the competitive scenario of the market.
The global monorail systems industry displays a competitive scenario with a few leading players that account for the largest market shares. The key players contributing to the growth of the monorail systems market size include Scomi Engineering Bhd. (Malaysia), Aerobus International, Inc. (USA), Mitsubishi Heavy Industries, Ltd. (Japan), Bombardier Transportation (Canada), Intamin Bahntechnik (Switzerland), Hitachi, Ltd. (Japan), Urbanaut Monorail Technology (USA) and research institutes such as the International Monorail Association (IMA), Japan Monorail Association (JMA), and The Monorail Society (TMS).
The company overview, its financials and business segments and the recent developments in the market are included in the monorail systems market report.
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Key Benefits of the Report:
The monorail systems market outlook incorporates market intelligence such as the current and emerging trends, market dynamic factors and their impact analysis, market value and Porter's Five Forces Model. Porter's analysis evaluates the potency of buyers and suppliers and analyzes the threat of substitutes and new entrants, along with the intensity of competitive rivalry in the monorail systems industry.
Quantitative and qualitative analysis of the current monorail systems market identify the prevailing opportunities in terms of profitability and growth and highlight the most lucrative investment options. The monorail systems market forecast (2017–2025) is based on the analysis of the market trends observed in the recent past and enable the market players to make informed decisions by studying the dynamic nature of the market.
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