Report Code: A14512 | Pages: NA | Apr 2023 | 1385 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Urban Rail Transit Market
Request Now !Urban rail transit are the various types of local rail systems which provides passenger service within and around urban or suburban areas. It is one of the most convenient and affordable of transportation within cities. It is known for its advantages of fast, environmentally friendly, low energy consumption and high efficiency. Urban transit mostly consists of metro trains, trams, monorail, and others which are generally operated by the government, whereas across some of country, urban rail transportation is operated by the government conjointly with a private company. This system plays a crucial role in transportation across densely crowded cities, owing to safety purpose. Moreover, using of rail transit has reduced traffic congestion to a great level since, people using personal vehicle to commute has started shifting towards urban rail transit. Furthermore, reduction in use of personal vehicles has contributed towards lowering of pollution levels in various cities. In addition, major cities across various countries have multiple urban transit available for travelling thus, it has lowered the crowding as well as enabled to cover a larger area connecting every small cities & town.
COVID-19 Impact Analysis:Â
Due to COVID-19 pandemic the government across all countries declared lockdown and various other restrictions. Due to lockdown travelling via railways has been disrupted which severely affected the revenue generation and railways suffered huge losses. Moreover, the work of railway expansion was also halted during this period since there was an economic slowdown. Furthermore, there was unavailability of raw material required railway manufacturing which further delayed the process. In addition, due to social distancing norms there was also unavailability of labor required for manufacturing process which also affected the operation. Globally railway is an evolving sector which was disrupted by COVID-19 pandemic, but it is expected post the pandemic the rise in demand of railway will drive growth of urban rail transit market.
Top Impacting FactorsÂ
Market Trends
Rise in development of rail transit systems
The government of major countries are investing heavily in development urban rail transit. The focus is in developing high speed trains for passenger travel. Moreover, recently, a gradual shift towards high-speed magnetic levitation (maglev) railway networks has been observed. Maglev trains uses two sets of magnets one set to repel and push the train up off the track and make it levitate and the other set to move the train at a great speed. For instance, Japan currently has maglev trains and in April 2020, China's Zhejiang provincial government announced plans to build a 400 km long maglev network costing $14.1 billion. Thus, rise in development of rail transit system can act as an opportunity for growth of urban rail transit market.
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Questions answered in the urban rail transit market research report:
Urban Rail Transit Market Report Highlights
Aspects | Details |
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By Rail Type |
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By Autonomy |
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Key Market Players | Alstom Holdings SA, Bombardier Inc, Construcciones y Auxiliar de Ferrocarriles SA, CRRC Corp. Ltd, Hitachi Construction Machinery Co. Ltd, Mitsubishi Heavy Industries Ltd., Motherson Sumi Systems Ltd, Siemens AG, SKODA TRANSPORTATION AS, The Greenbrier Companies Inc |
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