Urban Transport Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
Urban transport systems refers to highly accessible transport infrastructures that assists in urban movements of passengers and freight. As cities are growing in population and size, the demand for urban transportation is increasing many folds. Moreover, owing to inadequate public transportation, private vehicles are growing rapidly thus adding to the traffic congestion issues. Furthermore, the traditional approach of resolving traffic congestion issue by increasing capacity of the road network is not suitable anymore, owing to new commercial and residential developments established roadsides. In addition, due to the increase in the price of construction materials, it has become very expensive for cities to increase the capacity of the existing road network. Consequently, many cities across the world have reached a stage where adding new lanes to the road is not possible due to unavailability of land. Thus, the only growth management plan for controlling such serious issues seems to be urban transport systems that is expected to reduce the cost of transport and upgrade the quality of life across cities.
Traffic congestion owing to ever-growing population and scarcity of land is the driving factor for the urban transport systems market. Traffic congestion not only adds to air and sound pollution but imposes considerable cost in terms of health and productivity. Also, it increases the probability of accidents which may lead to human and property damage. Therefore, government across the world have started taking serious actions for the execution of urban transport systems projects. This is expected to be a major driving factor for the urban transport systems market.
Threat affecting the urban transport systems market is the high cost associated to it. Since planning, operating, financing and maintenance of an urban transport system needs significant investment, it poses a multi-dimensional challenge for the government or regulatory bodies worldwide. However, with growing urban population and resulting traffic congestion, government is generating several financial modes such as levy of cess, use of FSIs and TDRs, and inclusion of income generating assets to generate revenue for urban transport systems successfully.
New opportunities that are expected to signal growth to the urban transport systems market include the increasing demand from metropolitan cities across the world. Metropolitan cities are center of diverse activities and are densely populated. They are an attractive choice in terms of living, working and housing. Owing to this, they suffer from limited space availability, traffic congestion, inadequate parking spaces and noise and air pollution. Therefore, high capacity modes that offer greater mobility for the growing population are increasingly essential for their efficient accessibility and economic development. As a result, government is taking up execution of urban transport systems, on a priority basis in metropolitan cities worldwide.
Urban transport systems market can be segmented on the basis of transit modes, city type, and geography. On the basis of transit type, the urban transport systems market can be segmented into rapid transit, semi-rapid transit and street transit. The street transit mode can be further segmented into private, for-hire, and public transit modes. On the basis of city type, the urban transport systems market can be segmented into metropolitan, urban, and semi-urban cities. These city types are basically classified on the basis of their population. On the basis of geography, the urban transport systems market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa and South America.
Some of the key players in the urban transport systems market include Egis S.A., Aurecon Group Brand (Pte) Ltd., ILF Consulting Engineers, s.r.o., Ericsson Inc., Urban Mass Transit Company Ltd, SWARCO AG, Toyota Motor Corporation, Siemens AG, Mitsubishi Heavy Industries Group, and Moataz Makki Engineering Consultancy.
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