Nov 27, 2020   SOURCE: BusinessWire

Urban Rail Transit Market: COVID-19 Business Continuity Plan | 46% of Growth to Originate From APAC | Technavio

The new urban rail transit market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

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Technavio has announced its latest market research report titled Global Urban Rail Transit Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Urban Rail Transit Market 2020-2024 (Graphic: Business Wire)

Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the urban rail transit market.

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"One of the primary growth drivers for this market is the growing urbanization and need for sustainability”, says a senior analyst for the Industrials industry at Technavio. As the markets recover Technavio expects the urban rail transit market size to grow by USD 16.83 million during the period 2020-2024.

Urban Rail Transit Market Segment Highlights for 2020

  • The urban rail transit market is expected to post a year-over-year growth rate of 2.38%.
  • Based on the type, the metro rail segment led the market in 2019. This is due to the wide adoption of metro rails across the world, especially in China.
  • The market growth in the segment will be significant during the forecast period.

Regional Analysis

  • 46% of the growth will originate from the APAC region.
  • The market growth in APAC is driven by increasing investments in urban transport systems.
  • China and India are the key markets for urban rail transit in APAC. Market growth in this region will be faster than the growth of the market in other regions.

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Notes:

  • The urban rail transit market size is expected to accelerate at a CAGR of about 6% during the forecast period.
  • The urban rail transit market is segmented by Type (Metro rail, Light rail, and Monorail) and Geography (APAC, Europe, North America, MEA, and South America).
  • The market is fragmented due to the presence of many established vendors holding significant market share.
  • The research report offers information on several market vendors, including Alstom Holdings SA, Bombardier Inc., Construcciones y Auxiliar de Ferrocarriles SA, CRRC Corp. Ltd., Hitachi Construction Machinery Co. Ltd., Mitsubishi Heavy Industries Ltd., Motherson Sumi Systems Ltd., Siemens AG, SKODA TRANSPORTATION AS, and The Greenbrier Companies Inc.

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