Monorail System Market (By Type: Suspended Monorail and Straddle Monorail; By Autonomy: Semi-autonomous, Manual, Completely Autonomous; By Propulsion Type: Maglev Monorail, Electric Monorail; By Automation: GoA0, GoA1, GoA2, GoA3, and GoA4) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027


The global monorail system market size is projected to be worth around USD 180.48 billion by 2027 and anticipated to grow at a CAGR of 21.94% from 2020 to 2027.

Monorail System Market Size 2020 to 2027

Increasing demand for reliable transport, environmental sustainability, and rising traffic congestion have triggered the demand for clean and voluminous transport system are the major factors driving the monorail systems market. As per American Public Transportation Association (APTA), Americans took 9.9 Bn trips on public transport. In addition, rising infrastructure development along with increasing demand for reliable & environment-friendly public transport system expected to fuel the demand of monorail systems in the coming years. U.S. spends nearly US$ 400 Bn on public infrastructure, besides this the American Society of Civil Engineers (ASCE) stated that the investment on public infrastructure falls short every year and require to invest an additional US$ 2.1 Tn between 2016 and 2025 to meet the rising demand.

However, its low passenger carrying capacity hampers the market growth. Monorails are capable of carrying only four to six cars at a time and sometimes up to eight cars. This is the prime factor that governments of several developing nations prefer rapid transit systems or metros over monorails. Nonetheless, its environment-friendly feature as it runs on electric and magnetic energy may make it a preferred choice for the intra-city transport system in the coming years.

Type Insights

Monorails are normally employed to support manufacturing undertakings. Straddle design of monorail system utilizes extremely effectual guideway design. The guideway's narrow beam is fashioned offsite in a way that route corridor can stay highly reachable to the general public during production. The accomplished guideway is considerably thinner and permits more light through compared to widespread bridge structures requisite by other transit vehicle designs, whereas employing suggestively fewer construction material. As a result, it has significantly lower construction costs.

Monorail System Market Share, By Type, 2020 (%)

Straddle type monorail led the global monorail system market in 2019 owing to its higher capacity of carrying passengers than suspended type. Thus, straddle type monorail are a preferred choice over for crowded and high-frequency transportation. However, suspended type is most used at zoos, parks, and other small areas where the number of passengers are less.

Propulsion Type Insights

Electric monorails dominated the global monorail systems market in 2019. Electric monorails require less manufacturing time and cost as compared to maglev trains thus they captured most of the revenue share nearly 80% of the global market. In addition, Maglev trains are not suitable for short distance run such as intra-city transportation or within urban city travel as they have very high speed compared to electric monorails. Speed range of electric monorails is between 80 to 100 kilometers per hour on the other hand, maglev train speed is above 500 kilometers per hour.

Automation Insights

The grade of automation is decided on the basis of number of automated components in the train. Based on automation the global monorail system market is classified into GoA0, GoA1, GoA2, GoA3, and GoA4. GoA3 and GoA4 grade are considered as fully automated mass transport system and they possess highly level of punctuality and safety. They are mostly preferred in mass transits. However, GoA2 monorails are more preferred across the globe as they are more effective in reducing accidents along with enhances the overall train performance. GoA2 trains are incorporated with Automatic Train Protection (ATP) and Automatic Train Operation (ATO) systems, and operated under surveillance. These are some of the important factors that drive the growth of the electric monorail systems market.

Regional Insights

Large number of proposed and under-construction projects in Asia Pacific makes it the most lucrative region during the forecast period. Most of the under-construction projects are based in India, China, and ASEAN countries. In March 2019, India completed its first monorail project in Mumbai with an estimated investment of USD 5019 Mn on the project. In addition, rapid urbanization, rising traffic congestion, along with ever increasing population expected to propel the market growth in the region significantly.

Monorail System Market Share, By Region, 2020 (%)

Rest of the world is another most opportunistic region that offers significant revenue growth in the coming years. The factors attributed to the market growth are increased per capita income, enhanced education quality, and rising number of daily commuters are fueling the demand of monorail systems in the region.

Key Companies & Market Share Insights

The global monorail system market is consolidated with significant technological advancement. Market players are largely focused on advancement in automation of monorail. Moreover, rising number of projects expected to flourish the market growth. For instance, in May 2019, Bombardier Transportation, one of the leading players in monorail systems market, signed an agreement with the Egyptian government to build monorail in Cairo. The company is working in partnership with two other Egyptian firms that are the Arab Contractors and Orascom Construction.

Some of the prominent players in the monorail system market include:

  • Bombardier Corporation
  • CRRC Corporation Limited
  • Hitachi Rail
  • Ansaldo STS
  • BYD Company ltd
  • General Electric
  • Alstom S.A.
  • Thales Group
  • SIEMENS AG
  • Mitsubishi Electric
  • ABB

Segments Covered in the Report

This research report analyzes and predicts growth of market size at global, regional, and country levels. It also offers comprehensive study of the up-to-date industry developments in all of the sub-segments from 2016 to 2027. In order to study thoroughly this research study classified global monorail system market depending upon different parameters such as propulsion type, autonomy, automation, and region:

By Type

  • Straddle Monorail
  • Suspended Monorail

By Autonomy

  • Semi-autonomous
  • Completely Autonomous
  • Manual

By Propulsion Type

  • Electric Monorail
  • Maglev Monorail

By Autonomous

  • GoA0
  • GoA1
  • GoA2
  • GoA3
  • GoA4

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World
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Frequently Asked Questions

What is monorail?
Monorail is a means of transport that uses single track made of either concrete or metal. They are supported and guided by wheels beneath the train that are in continuous contact with the track.
According to Precedence Research, the global monorail system market size is poised to hit USD 180.48 bn by 2027.
The global monorail system market is expected to grow at a noteworthy CAGR of 21.94% from 2020 to 2027.
The major facators driving the monorail systems market are increasing demand for reliable transport, environmental sustainability, and rising traffic congestion have triggered the demand for clean and voluminous transport system.
Electric monorails dominated the global monorail systems market in 2019.

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