Market Overview:
The global passenger rapid transit system market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for public transportation, especially in the urban areas. Additionally, the growing awareness about environment-friendly and energy-efficient transportation systems is also propelling the growth of this market. The monorail segment is expected to hold the largest share of the global passenger rapid transit system market during the forecast period. This can be attributed to its advantages such as low cost and easy installation compared with other types of transport systems.
Product Definition:
A passenger rapid transit system (PRTS) is a type of public transportation system which provides faster, more efficient service than traditional bus or rail systems. PRTS often uses special vehicles such as buses, light rail vehicles, and streetcars which operate on dedicated lanes or tracks.
Monorail:
Monorail is a single rail track system with passenger cars or trams supported by an overhead rail. Monorails can be distinguished from light rail and heavy railway systems as they have fewer tracks, are cheaper to build, and require less space. They are also faster than their counterparts as they do not share tracks with other traffic.
Duorail:
Duorail is a single-shell construction material, made from layers of glass and metal. It has high thermal resistance and low thermal conductivity. Duorail systems are used in passenger rapid transit (PRT) systems to provide insulation between the tracks and the building walls, as well as for flooring applications within the trains. The material also provides acoustic benefits by reducing noise pollution generated through train operations.
Application Insights:
Airport was the largest application segment in 2016 and is expected to grow at a CAGR of XX% over the forecast period. Airport authorities are increasingly deploying PRT systems as an alternative to conventional rail transit systems due to their cost-effectiveness, flexibility, and ease of operation. For instance, Antwerp International Airport has been operating its own PRT system since 2014 while Dubai International airport is building a maglev train line that will connect its terminals with city center by 2027.
Amusement park was another significant application segment accounted for 21% share in 2016 owing to the availability of dedicated transport facilities for visitors who prefer not to walk or take public transport vehicles from station to destination.
Regional Analysis:
Asia Pacific is estimated to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030 owing to rapid urbanization and increasing per capita income in countries, such as China and India. In addition, rising investments in metro projects by the Chinese government are expected to drive demand for APT systems across the region. For instance, according to The National Development and Reform Commission (NDRC), there are currently around 180 projects worth USD X billion under implementation or planning in China pertaining Maglev development between 2016 and 2020 with an aim towards reducing travel time between Beijing’s airport station and city center from 60 minutes down to 30 minutes.
North America accounted for a significant revenue share of over 22% of global passenger rapid transit system market share in 2017 owing both primarily driven by U.S.
Growth Factors:
- Increasing population and rapid urbanization: The global population is expected to grow by more than 1 billion people by 2030, with the majority of this growth occurring in cities. This will create a greater demand for efficient, affordable transportation options that can move large numbers of people quickly and efficiently.
- Rising income levels: As incomes rise around the world, there is an increasing demand for more sophisticated and comfortable transportation options like passenger rail systems. In addition, as more people become affluent they are increasingly able to afford cars, which leads to increased traffic congestion and pollution in cities. Passenger rail systems offer a cleaner, more efficient alternative to driving individual cars in urban areas.
- Government investment in infrastructure: Governments around the world are investing billions of dollars into new passenger rail systems as a way to improve public transportation infrastructure and reduce traffic congestion and air pollution levels in cities. For example, China has announced plans to invest over 0 billion into new high-speed railways between now and 2020. This level of government investment will help spur rapid growth in the passenger rail market over the next decade or so .
Scope Of The Report
Report Attributes
Report Details
Report Title
Passenger Rapid Transit System Market Research Report
By Type
Monorail, Duorail, Automated Guide Way Transit Or Maglev, Others
By Application
Airports, Urban Transit, Amusement Parks, Commercial Center, Others
By Companies
Mitsubishi Heavy Industries, Bombardier, Ansaldo STS (Hitachi), TPI Composites, Strukton, Doppelmayr Cable Car (Doppelmayr/Garaventa Group), Chance Rides, Inc., Parry People Movers Ltd., POMA
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Passenger Rapid Transit System Market Report Segments:
The global Passenger Rapid Transit System market is segmented on the basis of:
Types
Monorail, Duorail, Automated Guide Way Transit Or Maglev, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Airports, Urban Transit, Amusement Parks, Commercial Center, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Mitsubishi Heavy Industries
- Bombardier
- Ansaldo STS (Hitachi)
- TPI Composites
- Strukton
- Doppelmayr Cable Car (Doppelmayr/Garaventa Group)
- Chance Rides, Inc.
- Parry People Movers Ltd.
- POMA
Highlights of The Passenger Rapid Transit System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Monorail
- Duorail
- Automated Guide Way Transit Or Maglev
- Others
- By Application:
- Airports
- Urban Transit
- Amusement Parks
- Commercial Center
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Passenger Rapid Transit System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Passenger Rapid Transit System (PRTS) is a type of mass transit system that uses trains to transport passengers between stations. PRTS systems are often called light rail, streetcar, or subway systems.
Some of the major companies in the passenger rapid transit system market are Mitsubishi Heavy Industries, Bombardier, Ansaldo STS (Hitachi), TPI Composites, Strukton, Doppelmayr Cable Car (Doppelmayr/Garaventa Group), Chance Rides, Inc., Parry People Movers Ltd., POMA.
The passenger rapid transit system market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Passenger Rapid Transit System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Passenger Rapid Transit System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Passenger Rapid Transit System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Passenger Rapid Transit System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Passenger Rapid Transit System Market Size & Forecast, 2018-2028
4.5.1 Passenger Rapid Transit System Market Size and Y-o-Y Growth
4.5.2 Passenger Rapid Transit System Market Absolute $ Opportunity
Chapter 5 Global Passenger Rapid Transit System Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Passenger Rapid Transit System Market Size Forecast by Type
5.2.1 Monorail
5.2.2 Duorail
5.2.3 Automated Guide Way Transit Or Maglev
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Passenger Rapid Transit System Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Passenger Rapid Transit System Market Size Forecast by Applications
6.2.1 Airports
6.2.2 Urban Transit
6.2.3 Amusement Parks
6.2.4 Commercial Center
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Passenger Rapid Transit System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Passenger Rapid Transit System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Passenger Rapid Transit System Analysis and Forecast
9.1 Introduction
9.2 North America Passenger Rapid Transit System Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Passenger Rapid Transit System Market Size Forecast by Type
9.6.1 Monorail
9.6.2 Duorail
9.6.3 Automated Guide Way Transit Or Maglev
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Passenger Rapid Transit System Market Size Forecast by Applications
9.10.1 Airports
9.10.2 Urban Transit
9.10.3 Amusement Parks
9.10.4 Commercial Center
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Passenger Rapid Transit System Analysis and Forecast
10.1 Introduction
10.2 Europe Passenger Rapid Transit System Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Passenger Rapid Transit System Market Size Forecast by Type
10.6.1 Monorail
10.6.2 Duorail
10.6.3 Automated Guide Way Transit Or Maglev
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Passenger Rapid Transit System Market Size Forecast by Applications
10.10.1 Airports
10.10.2 Urban Transit
10.10.3 Amusement Parks
10.10.4 Commercial Center
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Passenger Rapid Transit System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Passenger Rapid Transit System Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Passenger Rapid Transit System Market Size Forecast by Type
11.6.1 Monorail
11.6.2 Duorail
11.6.3 Automated Guide Way Transit Or Maglev
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Passenger Rapid Transit System Market Size Forecast by Applications
11.10.1 Airports
11.10.2 Urban Transit
11.10.3 Amusement Parks
11.10.4 Commercial Center
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Passenger Rapid Transit System Analysis and Forecast
12.1 Introduction
12.2 Latin America Passenger Rapid Transit System Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Passenger Rapid Transit System Market Size Forecast by Type
12.6.1 Monorail
12.6.2 Duorail
12.6.3 Automated Guide Way Transit Or Maglev
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Passenger Rapid Transit System Market Size Forecast by Applications
12.10.1 Airports
12.10.2 Urban Transit
12.10.3 Amusement Parks
12.10.4 Commercial Center
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Passenger Rapid Transit System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Passenger Rapid Transit System Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Passenger Rapid Transit System Market Size Forecast by Type
13.6.1 Monorail
13.6.2 Duorail
13.6.3 Automated Guide Way Transit Or Maglev
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Passenger Rapid Transit System Market Size Forecast by Applications
13.10.1 Airports
13.10.2 Urban Transit
13.10.3 Amusement Parks
13.10.4 Commercial Center
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Passenger Rapid Transit System Market: Competitive Dashboard
14.2 Global Passenger Rapid Transit System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Mitsubishi Heavy Industries
14.3.2 Bombardier
14.3.3 Ansaldo STS (Hitachi)
14.3.4 TPI Composites
14.3.5 Strukton
14.3.6 Doppelmayr Cable Car (Doppelmayr/Garaventa Group)
14.3.7 Chance Rides, Inc.
14.3.8 Parry People Movers Ltd.
14.3.9 POMA
