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The global light rail vehicle market is expected to grow at a CAGR of 5% in the forecast period of 2024-2032.
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The market for light rail vehicle is driven by the huge potential growth in countries which do not have light rail transit installed yet. This is expected to propel the market growth in the forecast period as well. The market for light rail vehicle is further expected to find impetus owing to the rapid urbanisation in the countries within the Asia Pacific, consequently generating an increased demand for new and improved rail and transport-related infrastructure projects. This is expected to propel the market growth in the region over the forecast period. Further, the rising population in and around urban areas is resulting in the increasing demand for easy and time-efficient transportation services around the world, as a result, enhancing the market growth of light rail vehicle.
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Light rail vehicle is considered to be an efficient means of public transport and is instrumental in reshaping the future of urban transportation. The light rail vehicle provides passenger service within as well as around the urban areas. It is similar to that of a tramway but varies a bit in capacity.
On the basis of capacity, the market is divided into:
Based on ground clearance, the industry can be segmented into:
On the basis of application, the market is segmented into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The light rail vehicle industry is being driven by major factors such as rapid urbanisation and increased mobility. The market is further being aided by the growing population across the world and people switching to urban areas, which is expected to create a heightened demand for transportation services. Moreover, the increasing demand from transportation services, when met with a surge in the production of rail supply, is expected to aid the market growth of light rail vehicle over the forecast period. However, the market growth may witness a setback in the forecast period for the manufacturers of this product as the light rail vehicle costs considerably higher for long-distance routes with lesser traffic.
The report gives a detailed analysis of the following key players in the global light rail vehicle market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Capacity |
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| Breakup by Ground Clearance |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global light rail vehicle market is projected to grow at a CAGR of 5% between 2024 and 2032.
The major drivers of the industry, such as rising disposable incomes, increasing population, rapid urbanisation, rising demand for easy and time-efficient transportation services, and a surge in the production of rail supply, are expected to aid the market growth.
The key trends guiding the growth of the market include the rising demand for new and improved rail and transport related infrastructure projects.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share in the market.
The significant capacities of light rail vehicle in the market are lower capacity and higher capacity.
The major ground clearance segments in the industry are low-floor and high-floor.
The leading application segments in the market are inner city and interconnecting cities.
The major players in the industry are Bombardier Inc., Alstom, Siemens Mobility GmbH, Mitsubishi Heavy Industries, Ltd., Kawasaki Rail Car, Inc., and PKC Group Ltd, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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