Published by TMR Research Insights
Posted on August 31, 2021
Urban Rail Transit Market: Introduction
According to the report, the global urban rail transit market is projected to reach US$ 59 Bn by 2031, expanding at a CAGR of ~3% during the forecast period. The urban rail transit market is expanding due to rising urbanization all over the world, especially in developing countries, which leads to an increasing demand for ecological and green urban transport. In choosing the mode of urban transportation, people pay more attention to land and energy saving, environment quality improvement, and passenger safety.
Expansion of Urban Rail Transit Market
Presently, national urban public transport authorities and PPP policymakers of several countries, especially developing countries in the world, are trying to develop comprehensive PPP policy systems for urban public transport, while the World Bank and the Asia Development Bank have also been actively advocating the construction of public transportation such as urban rail transit systems. This standard is estimated to provide the policy framework and PPP model principles applied in the urban rail transit sector, in line with the requirements of international organizations and governments.
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It would try to standardize the operation of urban rail transit PPP projects, reduce transaction costs, and attract more private capital involvement in the construction of urban rail transit projects. Therefore, this scenario is likely to boost the development of new urban rail transit projects over the next few years and subsequently, drive the demand for urban rail transit systems.
In terms of autonomy, currently, most urban rail transit systems deliveries are semi- and fully autonomous. Moving forward, urban rail transit systems would be connected, data-driven, shared, on-demand, and highly automated. The demand for fully autonomous urban rail transit is estimated to expand at a CAGR of 5.35% during the forecast period, from 1,699 units in 2017. Sales are anticipated to reach 2781 urban rail transit units by 2030.
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Regional Analysis of Urban Rail Transit Market
In terms of region, the global urban rail transit market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is projected to be a highly lucrative region of the global urban rail transit market during the forecast period. This is primarily due to high investments in urban transport infrastructure projects of rapidly developing countries in the region. Consequently, governments are committed to the promotion of public transport systems. Public transportation infrastructure in India needs considerably high investments and massive upgrades to boost a modal shift from private vehicles. It is estimated that over 50% of the population in India is likely to reside in urban areas by 2050. Metro rail is seen as a necessary solution to develop mass rapid transit systems in large cities in India.
Urban Rail Transit Market Players
Key players operating in the global urban rail transit market include CRRC Corp Ltd, Alstrom, Larsen & Toubro Limited, Siemens AG, Kawasaki Heavy industries, Ltd, and Hitachi Ltd.
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TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
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Urban Rail Transit Market: Introduction
According to the report, the global urban rail transit market is projected to reach US$ 59 Bn by 2031, expanding at a CAGR of ~3% during the forecast period. The urban rail transit market is expanding due to rising urbanization all over the world, especially in developing countries, which leads to an increasing demand for ecological and green urban transport. In choosing the mode of urban transportation, people pay more attention to land and energy saving, environment quality improvement, and passenger safety.
Expansion of Urban Rail Transit Market
Presently, national urban public transport authorities and PPP policymakers of several countries, especially developing countries in the world, are trying to develop comprehensive PPP policy systems for urban public transport, while the World Bank and the Asia Development Bank have also been actively advocating the construction of public transportation such as urban rail transit systems. This standard is estimated to provide the policy framework and PPP model principles applied in the urban rail transit sector, in line with the requirements of international organizations and governments.
For More Industry Insight, Request Sample@ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=51816
It would try to standardize the operation of urban rail transit PPP projects, reduce transaction costs, and attract more private capital involvement in the construction of urban rail transit projects. Therefore, this scenario is likely to boost the development of new urban rail transit projects over the next few years and subsequently, drive the demand for urban rail transit systems.
In terms of autonomy, currently, most urban rail transit systems deliveries are semi- and fully autonomous. Moving forward, urban rail transit systems would be connected, data-driven, shared, on-demand, and highly automated. The demand for fully autonomous urban rail transit is estimated to expand at a CAGR of 5.35% during the forecast period, from 1,699 units in 2017. Sales are anticipated to reach 2781 urban rail transit units by 2030.
Buy Our Premium Research Report@ https://www.transparencymarketresearch.com/urban-rail-transit-market.html
Regional Analysis of Urban Rail Transit Market
In terms of region, the global urban rail transit market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is projected to be a highly lucrative region of the global urban rail transit market during the forecast period. This is primarily due to high investments in urban transport infrastructure projects of rapidly developing countries in the region. Consequently, governments are committed to the promotion of public transport systems. Public transportation infrastructure in India needs considerably high investments and massive upgrades to boost a modal shift from private vehicles. It is estimated that over 50% of the population in India is likely to reside in urban areas by 2050. Metro rail is seen as a necessary solution to develop mass rapid transit systems in large cities in India.
Urban Rail Transit Market Players
Key players operating in the global urban rail transit market include CRRC Corp Ltd, Alstrom, Larsen & Toubro Limited, Siemens AG, Kawasaki Heavy industries, Ltd, and Hitachi Ltd.
More Trending Reports by Transparency Market Research –
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Contact
Transparency Market Research
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Blog: https://tmrblog.com/
Follow Us: Twitter | LinkedIn
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