The global monorail systems market is estimated to be USD 4.68 Billion in 2016, and is projected to reach USD 5.36 Billion by 2021, growing at a CAGR of 2.75% from 2016 to 2021. Asia-Pacific is estimated to lead the market in 2016; China, Japan, and Korea are key contributors to the monorail systems market in the region
The key strategy adopted by players to gain traction in the global monorail systems market is strategy of joint ventures/ supply contracts/partnership/ agreement to fortify their business network. This approach constituted approximately 69% of the total growth strategies adopted by players in the global monorail systems market. For instance, Scomi Engineering Bhd. had made a joint venture with Montagens e Projetos Especiais SA (‘MPE’) and Brasell Gestao Empresarial, LTD.A. Both companies scope was to manufacture, assemble, and marketing of monorail rolling stock.
Companies operating in the monorail systems market also followed strategy of expansion, which accounted for 17.2% of all the strategies adopted by companies from 2013 to 2016. For instance, Scomi Engineering is planning to enter into Chinese monorail market by 2017 as few Chinese firms have approached Scomi Engineering Bhd. for Chinese monorail market. Scomi Engineering's have an order booked of USD 521.64 million and company tender book is about USD 4.96 Billion.
The monorail systems market is dominated by global players such as Bombardier Transportation (Canada), Hitachi, Ltd. (Japan), Scomi Engineering Bhd. (Malaysia), Aerobus International, Inc. (USA), Mitsubishi Heavy Industries, Ltd. (Japan), Intamin Bahntechnik (Switzerland), Urbanaut Monorail Technology (USA).
Scomi Engineering Bhd. provides solutions for urban transportation and is also known for its quality and cost effective manufacturing solutions. Company R&D team continuously develop solutions for monorail systems, buses, and special purpose vehicles such as vacuum tankers, petrol tankers, and refuse compactors. The company is expanding in emerging markets of Brazil, India, Middle East, and China. Siemens is a German engineering conglomerate, focused on core business activities in the fields of energy, healthcare, industry, and infrastructure. The company offers urban and intercity rail solutions under its infrastructure and cities business unit. Its products include high-speed trains, commuter trains, passenger coaches, metros, people movers, light rail vehicles, locomotives, bogies, traction systems, and rail-related services. The company gives strong competition in emerging markets of Asia-Pacific to its competitors such as Bombardier transportation and Scomi Engineering Bhd., along with CSR Corporation.
Monorail Systems Market by Type (Straddle, and Suspended), Propulsion Type (Electric, and Maglev), Size (Large Monorail, Medium Monorail, and Compact Monorail), and Region - Global Forecast to 2021
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