What is Light Rail Vehicle Market Scope?
Light-weighted rail is considered as an efficient means of public transportation and is also reshaping the future of urban transportation. These are majorly likely tramps but are somehow have different capacities. Moreover, these rails have gained popularity recently, owing to their lower cost capital cost coupled with increased reliability as compared to heavy rail systems. Thus the encouraging government support to these railway projects has made the market of a light rail vehicle to flourish in the forecasted period.
The Light Rail Vehicle market study is being classified by Type (Lower-Floor Light Rail Vehicle and High- Floor Light Rail Vehicle), by Application (Inner City Light Rail Vehicle and Interconnecting Cities) and major geographies with country level break-up.
Analysts at AMA predicts that Manufacturers from Global will contribute to the maximum growth of Global Light Rail Vehicle market throughout the predicted period.
Knorr-Bremse (Germany), Bombardier (Canada), Alstom (France), Siemens (Germany), Mitsubishi (Japan), Skoda Transportation (Czech Republic), CRRC (China) and PKC Group (Finland) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Sinara Transport Machines (Russia) and Progress Rail Services (United States).
Analyst at AMA have segmented the market study of Global Light Rail Vehicle market by Type, Application and Region.
On the basis of geography, the market of Light Rail Vehicle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
The rising initiatives are taken by the government of India to promote the light rail system. For Instance, Delhi Tender of the LRT: The government is planning to introduce the Light rail transit system for the remaining 3 corridors of the phase 4 project of the Delhi Metro This will also reduce the cost by 25 to 45 percent compared to the existing metro systems. A high-level meeting was held to discuss the adoption of light rail transit system standards for the remaining 3 corridors that are Inderlok to Indraprastha, Lajpat Nagar to Saket G block, Rithala – Bawana – Narela
Influencing Market Trend
- The Growing Trend of Public-Private Partnership (PPP) in Developing Countries is an Ongoing Trend in this Market
- Growing Urbanization coupled with Increased Mobility is Expected to Drive the Market
- Growing Population Across the Globe, Emphasizes the Demand for Public Train Transportation
- Rising Government Support Towards the Light Weighted Railway System
- High Associated with these Light Weighted Rail
- Shifting of Concentration of People Towards Roadways Rather than Railways
- Concern Related to a Generally Lower Proportion of Seats to Standees
- Issue Related to the Traffic Congestion on Roads, due to Traffic Conjunction
Key Target AudienceManufacturers, Distributors/Traders/Wholesalers, Subcomponent Manufacturers, Industry Association and Downstream Vendors
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