Monorail System Market Size Analysis and Top Companies
The global monorail system market size is estimated to hit around USD 9.71 billion by 2033 from USD 6.45 billion in 2023 and growing at a CAGR of 4.25% from 2024 to 2033. The top companies operating in the monorail system market are Bombardier Corporation, CRRC Corporation Limited, Hitachi Rail, Ansaldo STS, BYD Company ltd, General Electric, Alstom S.A., Thales Group, SIEMENS AG, Mitsubishi Electric, ABB.
Market Report Coverage
| Report Highlights |
Details |
| Market Size in 2023 |
USD 6.45 Billion |
| Market Size by 2033 |
USD 9.71 Billion |
| Growth Rate from 2024 to 2033 |
CAGR of 4.25% |
| Largest Market |
Asia Pacific |
| Fastest Growing Market |
North America |
| Base Year |
2023 |
| Forecast Period |
2024 to 2033 |
| Segments Covered |
Type, Autonomy, Propulsion Type, Autonomous, Size, Geography |
Monorail System Key Players
- Bombardier Corporation
- CRRC Corporation Limited
- Hitachi Rail
- Ansaldo STS
- BYD Company ltd
- General Electric
- Alstom S.A.
- Thales Group
- SIEMENS AG
- Mitsubishi Electric
- ABB
Recent Developments
- In February 2023, the first medium-capacity monorail train manufactured by CRRC Changchun was introduced in Chongqing, China, on February 10th. This multi-adaptive straddle-type monorail offers excellent climbing ability, a small turning radius, and high environmental adaptability. With a maximum speed of 80km/h, each car can accommodate 136 passengers. The flexible configuration meets different passenger traffic demands, and its lightweight construction and low running noise have a minimal environmental impact.
- Alstom delivered monorail in September 2021 at its own plant in Derby, UK. The first 2Innovia 300 monorail trains for the Cairo Monorail plan have already inwards in Cairo, with Alstom's Trapaga, Spain plant leading the propulsion systems application.
- Egypt debuted the world's largest monorail east and west of Cairo in May 2022. Bombardier Transportation, a company based in Canada, has successfully completed monorail projects.
- Hitachi stated in December 2021 that it will purchase Bombardier Transportation's business interests, which includes the V300 ZEFIRO extremely high-speed train from Alstom.
- Siemens, a German corporation, was awarded a project in January 2021 to build a high-speed electric monorail network that would be tested by the middle of 2024. According to Kamel EL-Wazir of the Ministry of Transport Egypt, the monorail project's initial construction began in early 2021. The project is estimated to be worth $3 billion.
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