PUBLISHER: Value Market Research | PRODUCT CODE: 1548084
PUBLISHER: Value Market Research | PRODUCT CODE: 1548084
The global demand for Urban Rail Transit Market is presumed to reach the market size of nearly USD 61.42 Billion by 2032 from USD 43.91 Billion in 2023 with a CAGR of 3.8% under the study period 2024-2032.
Urban rail transit bound all the railway transportation for passenger occurring within and around the urban and sub-urban area. It mostly consists of metro, sub-urban trains, and trams. These systems are generally operated by the government, whereas across some of country, urban rail transportation is operated by the government conjointly with a private company. This system plays a crucial role in transportation across densely crowded cities, owing to safety purpose. Ever growing population across urban area is inclined towards the demand for fast, safe, environment friendly, and economical mode of transportation, which in turn impelling the global urban rain transit market.
Increasing demand for the public transportation facilities among the populace as well as rapid growth in investments for rail projects are the key factors that drive the market demand. In addition, the main reason is growing traffic congestion in the urban and suburban areas, which is expected to propel the market growth during the forecast period. Though, emerging technology coupled with rapid urbanization in developing region is anticipated to create potential opportunities for urban rail transit market in the coming year. However, cost of a train is unaffordable for several nations having critically lower GDP may hamper the market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Urban Rail Transit. The growth and trends of Urban Rail Transit industry provide a holistic approach to this study.
This section of the Urban Rail Transit market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Urban Rail Transit market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Urban Rail Transit market include ABB, Alstom S.A., Beijing Traffic Control Technology Co. Ltd., Bharat Forge Limited, Bombardier, BYD Auto Co. Ltd., Construcciones Y Auxiliar De Ferrocarriles, S.A., CRRC Corporation Limited, FTD Fahrzeugtechnik Bahnen Dessau GmbH, General Electric, GHH-Bonatrans, Hitachi Ltd., Kawasaki Heavy Industries Ltd., Kinki Sharyo Co. Ltd., Knorr-Bremse AG, . This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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