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

November 26, 2020 GMT
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)

LONDON--(BUSINESS WIRE)--Nov 26, 2020--

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)

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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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201126005529/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING RAIL TRANSPORT PUBLIC TRANSPORT ENGINEERING

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 11/26/2020 12:09 PM/DISC: 11/26/2020 12:09 PM

http://www.businesswire.com/news/home/20201126005529/en