Bombardier Inc, Alstom, Siemens Mobility GmbH, Mitsubishi Heavy Industries, Ltd, Kawasaki Rail Car, Inc, and PKC Group Ltd, among others, are the significant players in the global market for light rail vehicles.
As per the analysis by Expert Market Research, the light rail vehicle market is expected to grow at a CAGR of 5% in the forecast period of 2022-2027, driven by rapid urbanisation and increased mobility.
A key factor in redefining the future of urban transportation is the light rail vehicle, which is regarded as an effective mode of public transportation. The light rail vehicle transports people both inside and outside of urban areas. Its capacities vary slightly but is similar to that of a tramway.
The industry is aided by the increasing population globally and the increasing number of people moving to metropolitan areas, which is anticipated to result in a greater need for transportation services in the future. The enormous potential expansion in nations that do not yet have light rail transit implemented will likely propel the market growth. This is anticipated to fuel market expansion during the upcoming years.
During the forecast period, the light rail vehicle market is expected to be driven by the rising demand from transportation services and an increase in rail supplies. However, the producers of this product may see a slowdown in their market growth over the projection period since the cost of a light rail vehicle is much greater for long-distance routes with less traffic than for short-distance routes with more traffic.
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Bombardier Inc is a Canadian manufacturer of commercial aircrafts. It formerly produced recreational vehicles under the name Bombardier Recreational Products, as well as public transportation, railroads, and commercial aeroplanes. Although the company first produced snowmobiles, it has now expanded into the rail, aviation, and public transit sectors.
Alstom SA, a French multinational company, creates rolling stock for the international rail transportation industry. High-speed trains such as the AGV, TGV, Eurostar, Avelia, and New Pendolino, and also suburban, regional, and metro trains and Citadis trams, are among its offerings.
Siemens Mobility is a wholly owned subsidiary of Siemens, formed due to the company's reorganisation on 1 August 2018. With its global headquarters in Munich, Siemens Mobility is made up of four primary business divisions: rolling stock, customer services, railway electrification, and mobile management which is focused on rail technology and intelligent traffic systems.
Mitsubishi Heavy Industries or MHI is a global engineering, electronics, and electrical equipment company. It is one of the Mitsubishi Group's principal businesses. MHI produces hydraulic equipment, air conditioners, elevators, forklifts, and parts for the automotive and aerospace industries. The company provides cutting-edge and comprehensive solutions to a variety of industries, spanning land, sea, sky, and even space.
|Headquarters:||New York, United States|
The Japanese multinational corporation Kawasaki Heavy Industries Ltd. (KHI) is best known for its motorcycles, engines, heavy machinery, aerospace and military equipment, rolling stock, and ships. It owns Kawasaki Rail Car, and additionally produces industrial robots, gas turbines, pumps, boilers, and other products for the industry.
PKC designs, manufactures, and integrates specialised electrical distribution systems, along with related architectural components, vehicle electronics, wires, and cables. Its products are used for trucks and buses, light-duty and recreational vehicles, construction machinery, agricultural and forestry equipment, and trucks and buses. For some of the biggest rolling stock manufacturers in the world, PKC also creates and manufactures electrical cabinets, power packs, and electrical distribution systems.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.