The latest report on Urban Rail Transit Market by Infinium Global Research gives complete coverage of the Urban Rail Transit Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Urban Rail Transit such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Growth of the Urban Rail Transit Market is Attributed to Rapid Urbanization and a Growing Population in Urban Areas
The urban rail transit system includes all railway transportation that occurs in urban and suburban areas. It comprises of trains, suburban trains, and metro. It is generally operated by governing body and in some nations, it is operated by a government body combined with the privately-owned company. Urban rail transit systems have prime importance in transportation in densely populated cities. Thus safety regarding the operation of the transit system is of vital importance.
The growth of the urban rail transit market is attributed to rapid urbanization and a growing population in urban areas. A surge in demand for safe, fast, and economical mode of transportation led to the development of urban rail transit market. Further, rising pollution and increasing fuel prices stimulate the demand for the urban rail transit market. The rise in the number of on-road vehicles creates traffic problems contributing to the demand for the urban rail transit market. Additionally, the emergence of autonomous urban rail transit system promotes improved safety and effectiveness by minimizing the travel time. It has attracted the passengers to choose rail transit systems such as train as a public transport mode. The pollution from vehicle emissions has become a global concern.
The government of several countries focused on reducing pollution from the transportation industry. The train is a less polluting mode of transportation as compared to buses and cars. The government is focused on improving the railway connectivity in urban areas contributing to the expansion of the urban rail transit market. On the flip side, the high cost of trains is not affordable to several nations with a lower GDP rate that hinders the growth of the urban rail transit market. Moreover, infrastructure development and innovations in the rail transit systems create numerous opportunities for the growth of the urban rail transit market.
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Rising Pollution and Increasing Fuel Prices Stimulate the Demand for the Urban Rail Transit Industry
Geographically, the global urban rail transit market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific region is expected to hold a dominant share in the global urban rail transit market. The expanding railway network across the Asia-Pacific region contributes to the growth of the market. ‘One Belt, One Road’ initiative by China made the two ends of Eurasia closer to each other through two routes- one overland and one maritime. It promotes the economic and strategic domination of countries along these routes. Europe has fruitful growth opportunities in the global urban rail transit market. Growing demand for safer and faster transportation infrastructure stimulates the expansion of the urban rail transit market in Europe. North America has significant growth in the global urban rail transit market. Light rail is a commonly used public transit mode in North America.
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- Comprehensive analysis of global as well as regional markets of the Urban Rail Transit.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.