Light Rail Market Outlook - 2027
Light rail is a medium capacity mode of mass rapid transport, which is considered as an efficient means of public transport and significantly contributes to reshape the future of urban transportation. Light rail uses equipment and infrastructure, which are less massive than heavy rail modes such as commuter and metro rail systems or subways. Light rail is considered similar to a tramway but differs slightly in capacity. The market has witnesses significant opportunities in the past few years due to its lower capital costs and increased reliability compared to the heavy rail system. Light rail vehicle is also an environment-friendly alternative for means of transport. Improvement in passenger comfort as well as enhanced environmental control is expected to drive the demand for light rail vehicles in urban regions.
COVID-19 scenario analysis:
- Trains became one of the major aspects of the fight against the pandemic. Many train organizations in various countries have turned bogies into quarantine hospitals.
- The market is expected to witness tremendous growth after the lockdown is over as governments are going to introduce many more new projects to maintain social distancing.
- The growth for the market has been continuously increasing since many years. Moreover, to ensure safe travel after the pandemic, people are expected to choose train travel over other modes of transport.
- In many countries, trains are the major source of travel for many people. Therefore, after the pandemic is over, demand is expected to eventually rise.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Public transport as a means of reducing traffic congestion, growth in demand for energy-efficient transport, and increase in demand for comfort & safety are expected to spur the demand for light rail market over the forecast period. Moreover, refurbishment of existing rolling stock and capital-intensive nature of rolling stock are anticipated to hamper the growth of the market. Furthermore, big data applications in the rail industry and an increase in industrial & mining activity are expected to offer lucrative opportunities for the market over the forecast period.
The light rail market trends are as follows:
Public transport is a means of reducing traffic congestion
Growth in urbanization in almost every country across the world has increased the traffic in every developed city. Therefore, governments have motivated people to use public transport for daily travel, thereby strengthening the means of transportation for shorter distances. Increase in awareness among people for the environment has also motivated them to use public transport or shared mobility.
Increase in demand for comfort and safety
People across the globe are willing to spend more to save time, the security provided, and the facilities they get in return. Hence, while travelling the passengers are expecting good services all across the globe. With increase in demand for comfort & safety, manufacturers of light rail are innovating new designs to fulfill these demands. Therefore, this is expected to boost the growth of the market over the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the light rail market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the light rail market share.
- The current market is quantitatively analyzed to highlight the light rail market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the light rail market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Light Rail Market Report Highlights
Key Market Players
Bombardier, SCG Solutions, Alstom, Promtractor-Vagon CJSC, Progress Rail Services, CRRC, Sinara Transport Machines, Mitsubishi, Siemens, PKC Group