The Global Urban Transport Systems Market size is expected to reach US$ XX Mn. by 2026 from US$ XX Mn. in 2019, at a CAGR of XX% during the forecast period.
Global Urban Transport Systems Market Dynamics
Increasing congestion and casualties to drive the market
The growing industrial developments and increased economic activities in the urban areas led people to move to cities from the villages. According to the MMR report, the contribution of urban areas to the national GDP is around 80% of the total GDP due to growing economies, changing lifestyles, and living conditions in cities.
The increasing population in the urban areas surged the demand for vehicles for traveling from one territory to another within the city. The number of private vehicles has been increasing, as the purchasing power of the people is increasing. These factors have caused the issues such as traffic jams and casualties in the urban area. To tackle these issues the development of the urban transportation system has become essential for the urban areas for the point-to-point transportation of passengers and freights quickly. The safe, economic, and comfortable urban transportation system helps to reduce the number of private vehicles on the roads, which decreases traffic jams, casualties, and noise and air pollution.
However, metropolitan cities are becoming economic hubs due to the rapid industrial developments and diverse activities in the area. Due to the new commercial and residential infrastructure developments on existing road networks caused issues like inadequate parking space, noise, and air pollutions, etc. is expected to drive the urban transportation market during the forecast period.
High-cost installation to restrain the market
The infrastructural cost to build the urban transport system is too high due to the increasing price of concrete. However, a huge investment is required for the operation and maintenance of urban transportation, which is expected to create challenges for the market across the globe.
Global Urban Transport Systems Market Segment Analysis
Global Urban Transport Systems Market
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According to the MMR report, rapid transit mode is expected to witness the highest growth of XX% during the forecast period. The demand for rapid transportation mode has been increasing in urban and especially in metropolitan cities to reach quickly from one point to another within the city. However, the evolution of personal rapid transit (PRT) is expected to boost the market in rapid transit modes. The PRT includes small automated vehicles like pod cars or railed taxis, which allows individual and small groups of around 3 to 6 passengers on arranged network guideways. It enables nonstop travel from one point to another by eliminating in-between stops, indirect routes, and stops for the passenger with another destination, etc. The PRT supports a small network topology, the transport system can be built at low construction cost and small infrastructure, which is expected to drive the market.
Global Urban Transport Systems Regional Insights
Global Urban Transport Systems Market 1
Asia Pacific is expected to witness highest growth during forecast period
The Asia Pacific is expected to lead the global urban transportation market during the forecast period. The growth is attributed to the increasing population and urbanization in emerging economies like India and China. In the region, many people have been shifting to the urban areas from rural areas due to the growing industrialization and economic activities in the urban areas.
However, increasing infrastructural developments in cities due to the population has caused many issues due to limited space compared to the population, which is expected to boost the urban transport systems market. Other factors like government initiative to build the public transport for easy and convenient transportation of passengers and freights and to reduce traffic congestion, accidents, and environmental pollution. As result, the market is expected to witness the highest growth in the Asia Pacific region.
The objective of the report is to present a comprehensive analysis of the global urban transport systems market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants.
PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding global urban transport systems market dynamic, structure by analyzing the market segments and project global urban transport systems market clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the global urban transport systems market make the report investor’s guide.
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Global Urban Transport Systems Market 2
Global Urban Transport Systems Market, by Region:
• North America
• South America
• Middle East & Africa
Global Urban Transport Systems Market Key Players
• Egis S.A.
• Aurecon Group Brand Pte Ltd.
• ILF Consulting Engineers
• Ericsson Inc.
• Urban Mass Transit Company Ltd
• Swarco AG
• Toyota Motor Corporation
• Siemens AG
• Mitsubishi Heavy Industries Group
• Moataz Makki Engineering Consultancy
• Artelia Group
• Stanley Consultants
• Potters Industries
• Royal HaskoningDHV
• Mott Macdonald
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