Monorail is a railway technology that runs on a sole railway elevated track. Monorail vehicles utilize rubber tires on concrete tracks, which makes their operation quieter. Monorail tires are specially designed and customized in different shapes and sizes for transit applications. Monorails generally constitute of eight load tires, four steering tires (two in the front and two at the rear end of the vehicle), around 32 guide tires for a four-car train. Monorails are widely employed in congested urban cities and towns owing to their simple design and ease of construction in such areas.
Rise in population in urban areas supplemented with rise in daily commute is likely to boost traffic congestion, which is a major concern in urban areas. However, monorail, which is grade separated and elevated above all traffic congestion and occupies minimal space both vertically and horizontally, is likely to offer a solution to the traffic congestion. This is projected to propel the monorail tire market during the forecast period. Surge in urbanization, especially in developing regions, is offering lucrative employment opportunities and education. These factors attract people living in suburbs and the country-side to opt for a daily commute, such as monorails, which are considered highly efficient, economical, and safe means of public transportation as compared to highways, due to fewer number of accidents recorded since its inception, owing its wheel system design. These factors are anticipated to drive the monorail tire market during the forecast period. Increase in air pollution, especially via transportation, is a prime concern around the world. Monorails, which are environment-friendly, do not use any carbon-derived fuels and are likely to be adopted at a higher rate, as they contribute toward a greener environment. This is projected to drive the monorail tire market during the forecast period. However, higher initial cost of installation and maintenance cost coupled with limited passenger capacity are likely to hamper the monorail tire market.
The global monorail tire market can be segmented based on tire type, inflation pressure, and region. Based on tire type, the monorail tire market can be divided into load tire, guide tire, and steering tire. The guide tire segment accounts for a higher share of the market primarily due to a large number of guide tires incorporated in the monorail, as compared to other segments. The axles for the guide tires are spring loaded, which helps maintain balanced contact on both sides throughout the beam. The segment is likely to remain prominent during the forecast period.
In terms of inflation pressure, the monorail tire market can be segregated into less than 150 psi and more than 150 psi. The more than 150 psi segment leads the monorail tire market. This is primarily attributed to the higher number of the guide tires that are generally inflated with 168 psi. Additionally, the guide tires are rated for extreme load 3,000+ pounds per tire. The segment is projected to expand at a healthy growth rate during the forecast period.
Based on region, the global monorail tire market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominates the global monorail tire market. This is majorly due to surge in rate of adoption of railway transportation coupled with increased number of proposed and on-going projects in the region are projected to boost the monorail market, which in turn is anticipated to propel the monorail tire market in the region. Furthermore, growing urbanization, increased road traffic congestion, demand for economical and safe transportation, and limited availability of spaces in urban areas of the region are prompting governing bodies to opt for monorail as an alternate transit system, thereby driving the monorail tire market in the region.
Key players operating in the global monorail tire market include Michelin, Continental AG, JK Tyre & Industries Ltd, Goodyear Tire & Rubber Co., and Bridgestone Corporation.
The Monorail Tire market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Monorail Tire market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Monorail Tire market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Monorail Tire market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Monorail Tire market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Monorail Tire capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Monorail Tire by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Monorail Tire market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Monorail Tire market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Monorail Tire market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Monorail Tire industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Monorail Tire market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Monorail Tire market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Monorail Tire market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Monorail Tire market. These factors have benefited the growth of the global market for Monorail Tire. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Monorail Tire. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Monorail Tire are as follows:
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- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
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