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Overview of the global monorail system market

Market research analysts at Technavio predict that the global monorail system market will grow steadily during the forecast period and post a CAGR of about 3% by 2021. This market research analysis identifies the growth of the rail supply market as one of the primary growth factors for the monorail system market. The rail supply market consists of rail infrastructure turnkey projects, rail signaling services, and rolling stock. Despite the economic slowdown of several European and Asian economies, the rail supply market witnessed steady growth in the recent years. Large economies have most of the leading vendors due to large scale operations and manufacturing sites in addition to numerous rail infrastructure projects which contribute to the growth of the rail supply market. Additionally, the economic growth of the countries such as China and Japan that drives investments in rail infrastructure projects will also propel the growth of the rail supply market. This will fuel the need for urban transportation solutions, which will in turn, drive the growth of the market for monorail systems.

The market research report identifies the emergence of PPP model in emerging countries as one of the primary trends responsible for the growth of the monorail system market. Public private partnerships or PPP model aids in equal sharing of the capital and risks associated with the project. Developing and developed economies favor PPP model in railway infrastructure projects for their funding and implementation as the model provides cost savings and better risk sharing benefits for the urban transit systems. Private players focus on entering contracts with public or government authorities for the timely delivery and maintenance of transit systems. For instance, the Government of Queensland in Australia recently entered a contract worth more than USD 4 billion with a major manufacturer Bombardier for its New Generation Rolling stock project (NGR).

Competitive landscape and key vendors

This monorail system market is relatively stagnant and is moderately competitive with the presence of changing leading vendors that switch between railway and automotive industries. Global manufacturing companies are limited in number and are facing competition from strong European and Chinese companies. Vendors aim to gain competitive advantage by focusing on the various features and the various upgradations in the monorail technology.

The leading vendors in the market are -

• Bombardier
• Hitachi
• Mitsubishi
• Siemens

The other prominent vendors in the market are Alstom, Bradken, CAF, CRRC, DCD Rail, Downer Group, Éolane, INTAMIN Deutschland, Japan Transport, Engineering Company, JSC Dneprovagonmash, Newag S.A., PKC Group, Promtractor-Vagon CJSC, Scomi Engineering Bhd, Sinara Transport Machines, Skoda Transportation, The Greenbrier Companies, and The Urbanaut Company.

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Segmentation by monorail type and analysis of the monorail system market

• Straddle
• Suspended

During 2016, the straddle monorail segment accounted for the major shares and dominated this market. Large part of rail transportation is controlled by the government, resulting in huge inflow of money in the market for monorails and other urban transport systems. With majority of population living in urban areas, the demand for new transport systems will increase significantly. Factors such as the growing demand for high speed trains in emerging economies and the increased investment in rail infrastructure will contribute to the growth of this segment in the monorail system market during the next few years.

Geographical segmentation and analysis of the monorail system market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the monorail system market throughout the forecast period. This is mainly due to the large population, the growing requirement for solutions to combat the increasing traffic, and the presence of high technology monorail in Japan. Countries such as India and China are financing rail infrastructure projects by collaborating with private and foreign players.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global monorail system market?
• What are the key market trends impacting the growth of the global monorail system market?
• What are the challenges to market growth?
• Who are the key vendors in the global monorail system market?
• What are the market opportunities and threats faced by the vendors in the global monorail system market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global monorail system market?

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