Urban Rail Transit Market: COVID-19 Business Continuity Plan | 46% of Growth to Originate From APAC | Technavio
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.
“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.
- 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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- 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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SOURCE: Technavio Research
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PUB: 11/26/2020 12:09 PM/DISC: 11/26/2020 12:09 PM