Market Overview:
The global light rail vehicle 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 developing countries. In addition, the growing awareness about environment-friendly transportation options is also propelling the growth of this market. Based on type, the lower capacity light rail vehicles segment is projected to lead the global light rail vehicle market during the forecast period. This can be attributed to their low cost and easy installation as compared to higher capacity light rail vehicles. However, with rising income levels and an increase in urban population, there will be an increased demand for higher capacity light rail vehicles over time. Based on application, inner city Light Rail Vehicle (LRV) segment is projected to leadthe global LRV market duringthe forecast period owingto its advantages such asreduced traffic congestion.
Product Definition:
A light rail vehicle (LRV), also known as a tram or streetcar, is a type of urban rail vehicle that runs on tracks in a street median or along an exclusive right-of-way.
Lower Capacity:
Lower capacity is a term used for referring to the smaller of two wagons in light rail vehicles (LRV), which carries fewer passengers or goods. The lower-capacity vehicle can be either a single deck, double deck, or tricycle. In most cases, the LRV has two lower-capacity vehicles coupled together; this is referred to as a train set and it forms the major portion of an LRV’s consist.
Higher Capacity:
Higher capacity is a technology that allows more passengers to travel in a light rail vehicle with the same amount of fuel. It can be defined as an improvement in speed and efficiency of public transport vehicles. The higher the capacity, the faster will be its adoption by various transportation authorities across the globe.
The demand for higher capacity is increasing due to growing population, rapid urbanization & industrialization,.
Application Insights:
In terms of revenue, the inner city light rail vehicle segment dominated the global market with a share of over 60.0% in 2017. This can be attributed to increasing urbanization and rising disposable income in countries such as China, India and Australia. In addition, favorable government policies regarding public transportation are expected to boost industry growth over the forecast period.
The interconnecting cities application segment is projected to witness significant growth over the forecast period owing to an increase in new projects connecting major cities across Europe and Asia Pacific regions by 2019.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The presence of major urban cities such as Tokyo, Beijing, and Shanghai has resulted in an increased demand for light rail vehicles in this region. Furthermore, increasing government initiatives to develop smart cities are anticipated to fuel the regional product demand. For instance, China has planned a total of 79 new smart cities by 2020 with a focus on developing integrated transport systems that include light rail vehicles among other modes of transportation such as trams and subways.
The Asia Pacific was followed by Europe wherein countries including Austria, Switzerland have already implemented various Light Rail Vehicle (LRV) systems into operation while several more are under construction or planning stages which is further expected to drive the global market growth over the next eight years.
Growth Factors:
- Increasing demand for public transportation: The increasing population and the subsequent increase in the number of commuters is one of the primary growth drivers for the light rail vehicle market. Governments are investing in public transportation systems such as light rail vehicles to reduce traffic congestion and pollution levels.
- Rising awareness about environment-friendly transport options: Light rail vehicles are considered as environment-friendly alternatives to other modes of transport such as cars and buses. There is a growing demand for these vehicles owing to their low emissions levels, which is contributing significantly to the growth of this market.
- Technological advancements: The development of new technologies that improve fuel efficiency and passenger comfort is aiding in the expansion of this market worldwide. For instance, manufacturers are increasingly incorporating advanced features such as air conditioning, Wi-Fi connectivity, and LED lighting into light rail vehicles, thereby making them more attractive to consumers.
Scope Of The Report
Report Attributes
Report Details
Report Title
Light Rail Vehicle Market Research Report
By Type
Lower Capacity, Higher Capacity
By Application
Inner City Light Rail Vehicle, Interconnecting Cities
By Companies
Bombardier, Alstom, Siemens, Knorr-Bremse, Mitsubishi, CRRC, PKC Group, Progress Rail Services, Promtractor-Vagon CJSC, SCG Solutions, Sinara Transport Machines, Skoda Transportation, Construcciones Y Auxiliar De Ferrocarriles SA (CAF)
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 Light Rail Vehicle Market Report Segments:
The global Light Rail Vehicle market is segmented on the basis of:
Types
Lower Capacity, Higher Capacity
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
Inner City Light Rail Vehicle, Interconnecting Cities
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:
- Bombardier
- Alstom
- Siemens
- Knorr-Bremse
- Mitsubishi
- CRRC
- PKC Group
- Progress Rail Services
- Promtractor-Vagon CJSC
- SCG Solutions
- Sinara Transport Machines
- Skoda Transportation
- Construcciones Y Auxiliar De Ferrocarriles SA (CAF)
Highlights of The Light Rail Vehicle 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:
- Lower Capacity
- Higher Capacity
- By Application:
- Inner City Light Rail Vehicle
- Interconnecting Cities
- 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 Light Rail Vehicle 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.
How you may use our products:
- Correctly Positioning New Products
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- Product & Brand Management
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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?
A light rail vehicle, or LRV, is a type of train used in urban mass transit. Light rail vehicles are typically powered by electric motors and run on tracks in a guideway.
Some of the major players in the light rail vehicle market are Bombardier, Alstom, Siemens, Knorr-Bremse, Mitsubishi, CRRC, PKC Group, Progress Rail Services, Promtractor-Vagon CJSC, SCG Solutions, Sinara Transport Machines, Skoda Transportation, Construcciones Y Auxiliar De Ferrocarriles SA (CAF).
The light rail vehicle market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Light Rail Vehicle Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Light Rail Vehicle Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Light Rail Vehicle Market - Supply Chain
4.5. Global Light Rail Vehicle Market Forecast
4.5.1. Light Rail Vehicle Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Light Rail Vehicle Market Size (000 Units) and Y-o-Y Growth
4.5.3. Light Rail Vehicle Market Absolute $ Opportunity
5. Global Light Rail Vehicle Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Light Rail Vehicle Market Size and Volume Forecast by Type
5.3.1. Lower Capacity
5.3.2. Higher Capacity
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Light Rail Vehicle Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Light Rail Vehicle Market Size and Volume Forecast by Application
6.3.1. Inner City Light Rail Vehicle
6.3.2. Interconnecting Cities
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Light Rail Vehicle Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Light Rail Vehicle Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Light Rail Vehicle Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Light Rail Vehicle Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Light Rail Vehicle Demand Share Forecast, 2019-2026
9. North America Light Rail Vehicle Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Light Rail Vehicle Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Light Rail Vehicle Market Size and Volume Forecast by Application
9.4.1. Inner City Light Rail Vehicle
9.4.2. Interconnecting Cities
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Light Rail Vehicle Market Size and Volume Forecast by Type
9.7.1. Lower Capacity
9.7.2. Higher Capacity
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Light Rail Vehicle Demand Share Forecast, 2019-2026
10. Latin America Light Rail Vehicle Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Light Rail Vehicle Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Light Rail Vehicle Market Size and Volume Forecast by Application
10.4.1. Inner City Light Rail Vehicle
10.4.2. Interconnecting Cities
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Light Rail Vehicle Market Size and Volume Forecast by Type
10.7.1. Lower Capacity
10.7.2. Higher Capacity
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Light Rail Vehicle Demand Share Forecast, 2019-2026
11. Europe Light Rail Vehicle Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Light Rail Vehicle Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Light Rail Vehicle Market Size and Volume Forecast by Application
11.4.1. Inner City Light Rail Vehicle
11.4.2. Interconnecting Cities
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Light Rail Vehicle Market Size and Volume Forecast by Type
11.7.1. Lower Capacity
11.7.2. Higher Capacity
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analyis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Light Rail Vehicle Demand Share, 2019-2026
12. Asia Pacific Light Rail Vehicle Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Light Rail Vehicle Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Light Rail Vehicle Market Size and Volume Forecast by Application
12.4.1. Inner City Light Rail Vehicle
12.4.2. Interconnecting Cities
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Light Rail Vehicle Market Size and Volume Forecast by Type
12.7.1. Lower Capacity
12.7.2. Higher Capacity
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Light Rail Vehicle Demand Share, 2019-2026
13. Middle East & Africa Light Rail Vehicle Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Light Rail Vehicle Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Light Rail Vehicle Market Size and Volume Forecast by Application
13.4.1. Inner City Light Rail Vehicle
13.4.2. Interconnecting Cities
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Light Rail Vehicle Market Size and Volume Forecast by Type
13.7.1. Lower Capacity
13.7.2. Higher Capacity
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Light Rail Vehicle Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Light Rail Vehicle Market: Market Share Analysis
14.2. Light Rail Vehicle Distributors and Customers
14.3. Light Rail Vehicle Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Bombardier
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Alstom
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Siemens
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Knorr-Bremse
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Mitsubishi
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. CRRC
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. PKC Group
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Progress Rail Services
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Promtractor-Vagon CJSC
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. SCG Solutions
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Sinara Transport Machines
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Skoda Transportation
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Construcciones Y Auxiliar De Ferrocarriles SA (CAF)
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
