Global Urban Rail Transit Market By Type (Metro Rail, Light Rail, Monorail), By Application (Commuters, Students, Old People, Others), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019–2029

Market.us announces publication of its most recently generated research report titled, “Global Urban Rail Transit Market by Type (Tramway, Rapid Transit, Light Rail, and Other Types), By End-User (Commuters, Students, Old People and Other End-Users), and by Region – Global Forecast to 2029.”, which offers a holistic view of the global urban rail transit market through systematic segmentation that covers every aspect of the target market.

The global urban rail transit market is projected to be US$ 143.7 Mn in 2019 and is projected to reach US$ 227.6 Mn by 2029 at a CAGR of 4.7%.

Urban rail transit includes various types of local rail systems that offer passenger service within and around urban or suburban areas. The urban rail transit system has an important impact on the mitigation of traffic congestion and sustainable development. Urban rail transit plays a significant role in public transport to several major cities worldwide. The urban transport system is a complex dynamic system with several components and feedback mechanisms inside. Urban railway transport connects suburbs and city areas and is characterized by uneven temporal and spatial distribution in terms of passenger flow and underutilized carrying capacity.

Most urban rail systems are part of a government-subsidized public transport network, and these carry large numbers of passengers, especially in larger cities. Urban rail transit has several advantages such as trains carries a considerable number of passengers with high speed compared with bus and other public transportation vehicles, saved energy and emits less emission which is better for the environment and people’s health, accident rate of rail transport is less as compared to others, and several other significant benefits. Moreover, the department of urban rail transit offers many job opportunities for citizens, which helps in promoting society’s employment.

Global Urban Rail Transit Market Revenue (US$ Mn), 2019–2029

Growing urbanization and accelerated size and population of metropolitan cities is a major factor driving the growth of the global urban rail transit market. Increasing pressure on urban traffic systems such as traffic congestion is rising the demand for public transportation facilities. This is a factor expected to support the growth of the global urban rail transit market.

Constant fluctuations in fuel prices is a factor expected to challenge the revenue growth of the global urban rail transit market. High initial cost requirement, maintenance costs, and extensive planning and development is another factor expected to hamper the growth of the target market.

Global urban rail transit market is segmented based on type, end-user, and region. Based on Type, the market is segmented into Tramway, Rapid Transit, Light Rail, and Other Types. The Rapid Transit accounts for the majority share and is expected to register the highest growth over the forecast period. Based on end-user, the market is segmented into Commuters, Students, Old People and Other End-Users. The Student segment accounts for a majority share in the global Urban Rail Transit Market.

Global Urban Rail Transit Market Attractiveness Analysis by Transit Type, 2013–2019

Based on the region, the Europe market is estimated to account for the highest revenue share and is projected to dominate the urban rail transit market in the near future, followed by APAC and North America, respectively.

The research report on the global Urban Rail Transit Market includes profiles of some of the major companies such as Siemens Aktiengesellschaft, Knorr-Bremse AG, Hitachi, Ltd., Thales Group, Wabtec Corporation, Alstom S.A, Bombardier Inc., Mitsubishi Electric, Robert Bosch GmbH, Bharat Forge, CAF (Construcciones y Auxiliar de Ferrocarriles), PESA Bydgoszcz SA, Stadler Rail, and PC Transport Systems.

Key Market Segments

Type

• Tramway
• Rapid Transit
• Light Rail

Application

• Commuters
• Students
• Old People
• Others

Key Market Players included in the report:

• Siemens Aktiengesellschaft
• Knorr-Bremse AG
• Hitachi Ltd.
• Thales Group
• Wabtec Corporation
• Alstom S.A
• Bombardier Inc.
• Mitsubishi Electric
• Robert Bosch GmbH
• Bharat Forge
• CAF (Construcciones y Auxiliar de Ferrocarriles)
• PESA Bydgoszcz SA
• Stadler Rail
• PC Transport Systems

For the Global Urban Rail Transit Market research study, the following years have been considered to estimate the market size: