Amalgamation of technical innovations and appealing designs, the transport industry has introduced various rail vehicles with optimized operational performance.
Portland, OR -- (SBWIRE) -- 09/04/2017 -- With alarming increase in road vehicles, public transportation faces numerous challenges such as heavy traffic, congestion, and accidents. Thus, rail vehicles are introduced to reshape the future of urban mobility system.
The need for energy efficient transportation systems is expected to drive the increase in demand for global rail vehicles market. Factors such as rise in rate of population & urbanization and growth in traffic congestions on roads are expected to fuel the growth of the market during the forecast period. Owing to its speedy transportation and sustainability, the market is expected to witness a significant growth during the forecast period. However, rail vehicles incur huge capital outlay in terms of construction and maintenance as compared to other modes of transport, which is therefore expected to limit the growth of the market.
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The global rail vehicle market is segmented on the basis of product type, application, technology, and geography. On the basis of product type, the market is classified into automated people movers, automated monorails, light rail vehicles, metros, locomotives, and others (high speed train and freights/goods rail). Based on application, the market is bifurcated into passenger and freight. On the basis of technology, the market is categorized into mechanical drive, electric drive, and hydraulic drive. By geography, it is analyzed across North America, Asia-Pacific, Europe, and LAMEA.
The key players operating in the global rail vehicle market are General Electric, Siemens, US Railcar, Hyundai Rotem, Alstom, Inekon Trams, Knorr-Bremse, China CNR, Vossloh, and Bombardier.
Rail Vehicle Market Key Segments:
By Product Type
- Automated People Movers
- Automated Monorails
- Light Rail Vehicles
- Others (High Speed Train, Freights/Goods Rail)
- Mechanical Drive
- Electric Drive
- Hydraulic Drive
- North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East
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