Thursday, June 20, 2024

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Automotive, Transportation and Warehousing Growth in Traffic Congestions on Roads Anticipated to Drive Global Rail Vehicle...

Growth in Traffic Congestions on Roads Anticipated to Drive Global Rail Vehicle Market: Ken Research

Rail vehicle is a type of vehicle that runs on railway tracks. It is one of the most important & very cost effective ways of commuting and goods carriage over long, as well as, short distances. It runs on metal (usually steel) rails and wheels. It has an inherent advantage of lesser frictional resistance which helps attach more loads in terms of carriages or wagons.

These rail vehicles have numerous variants such as; intercity passenger rails, high-speed rail, regional rail, metro rail, light rail, streetcars, and many others.

According to study, “Global Rail Vehicle Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global rail vehicle market are Alstom SA, China CNR Corporation Limited, Bombardier Inc., Hyundai Rotem, General Electric Company, Siemens AG, Inekon Trams A.S., Vossloh AG, ABB Ltd., Knorr-Bremse AG, CRRC Corporation Limited, US Railcar, PKC Group, Sinara Transport Machines, Progress Rail Services Corporation, Skoda Transportation A.S. The key companies are looking onward to digitizing the rail operations as railways continue to be an devoted part of any economy.

Based on product type, rail vehicle market is segmented into automated monorails, automated people movers, locomotives, light rail vehicles, metros, and others (high speed train and freights/goods rail). Locomotives are usually used to haul freight or passenger wagons for long distance main line transport. However, vehicles for instance light rail vehicles, metros, and subways are being used for intercity as well as intra-city transportation. Based on capacity, market is segmented into higher capacity and lower capacity. Based on clearance, market is segmented into high-floor light rail vehicle and low-floor light rail vehicle. Based on transit type, market is segmented into rapid and conventional. Based on technology, market is segmented into electric drive, mechanical drive and hydraulic drive. In addition, based on application, market is segmented into freight and passenger.

The rail vehicle market is driven by growth in traffic congestions on roads, followed by rise in rate of population & urbanization, increase in technical innovations in the transportation industry, economical ticket pricing, rise in government investments, increase in use of big data analytics in railways, growth in economy and increase in need for cleaner & faster modes of transportation. However, high capital outlay in terms of maintenance & construction and lack of availability from the underdeveloped economies may impact the market. Moreover, rise in need for energy-efficient transportation systems is a key opportunity for market. Furthermore, increase in mergers & acquisition (M&A) to further industry consolidation is a major trend for market.

Based on geography, the Asian-Pacific and European regions hold major share in rail vehicle market owing to increase in population, rise in demand for new & improved rail and transport related infrastructure projects in the region. The North-American region is expected to exhibit substantial growth rate due to increase in demand for energy efficient transportation systems over the forecast period. In near future, it is predicted that the market will be reached at rapid pace as a result of rise in focus of the rail vehicle manufacturers on transportation safety & digitalization and growth in demand for speedy & cheaper transportation during the forecast period.

For More Information, click on the link below:-

Global Rail Vehicle Market Research Report

Related Reports:-

Global Rail Vehicles Bogie Components Market 2019 by Company, Regions, Type and Application, Forecast to 2024

Rail Guided Vehicle System Market Research: Global Status & Forecast by Geography, Type & Application (2015-2025)

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249

RELATED ARTICLES

What Makes Activa 6G Red Colour Stand Out Style and Features Reviewed

The Honda Activa Scooty has been a popular choice in the Indian market for decades, and the new Activa 6G Red Colour has taken...

Car Rental Market Share: Understanding the Competitive Landscape

In the fast-paced world of transportation, the car rental market stands as a dynamic and indispensable sector, offering mobility solutions to individuals and businesses...

Used Vehicles Market: Major Players and Trends

In the ever-evolving landscape of transportation, the used vehicles market emerges as a dynamic and bustling sector, teeming with opportunities and challenges alike. From...

Most Popular

Navigating the Dynamic Landscape of the Smartphone Industry

The Smartphone industry stands at the forefront of technological innovation, shaping the way individuals communicate, work, and interact with the digital world. From cutting-edge...

US Food Allergen Testing Industry: Trends, Challenges, and Opportunities

The US Food Allergen Testing industry is a critical sector safeguarding public health by ensuring food safety and catering to the growing population with...

The Dynamics of the Coal Mining Market: Growth Drivers and Challenges

Introduction Coal mining serves as a cornerstone in fueling industries, generating electricity, and fostering economic growth worldwide. This article delves into various facets of the...

A Market Research Report on the Cosmeceuticals Industry in India

The Indian beauty landscape is witnessing a fascinating shift. Consumers are no longer just seeking products that enhance appearance; they are actively seeking solutions...