Metro Rails to Witness Highest CAGR in India Rapid Transit System Market During Forecast Period
Growing urbanization along
with rising concern towards fuel savings to propel India rapid transit system market
during forecast period
According to
TechSci Research report, “India
Rapid Transit System Market By Type, By Ownership, Competition, Forecast
& Opportunities, 2024”, India rapid transit system market is projected to witness substantial growth during the forecast
period on account of growing urban population, traffic congestion and rising
air pollution. Moreover, increasing population of the country is fueling demand
for fast, safe, and economical mode of transportation, which in turn is propelling
the growth of India rapid transit system market. In the current scenario, the
metro systems are operational in 10 cities in India while about 25 new projects
are in the pipeline. The government of India has allocated a fund of around $ 2
billion for the 2018-2019 metro budget. Therefore, increase in the number of
metro projects is anticipated to fuel the growth of India rapid transit system
market over the next 5 years. However, the major impediment to India rapid
transit system market is its cost which is restraining the expansion of transportation
industry.
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India rapid
transit system market can be segmented based on type, ownership and region. In
terms of ownership, the market is segmented into Central Government, State
Government and Public and Private Partnership. Out of these, Central and State
Government ownership dominated the market until 2018 and is anticipated to
maintain its position during the forecast period as well. This can be
attributed to the reason that rapid transit systems (RTS) in India are majorly
operated by the governing body (State and Central Government). In addition, the
Public and Private Partnership (PPP) segment is anticipated to register a
significant growth through 2024, as based on new regulations the transit system
is operated by the governing body in combination with a privately-owned company
as a means to accelerate delivery of much-needed transportation projects.
Delhi Metro Rail
Corporation, Bangalore Metro Rail Corporation Limited, Reliance Infrastructure
Limited, Ahmedabad Janmarg Limited, L&T Metro Rail Hyderabad, Chennai Metro
Rail Limited, Mumbai Metropolitan Region Development Authority (MMRDA), Rapid
MetroRail Gurgaon Limited, Kochi Metro Rail Limited, Jaipur Metro Rail
Corporation limited, Lucknow Metro Rail Corporation, IL&FS Engineering and
Construction Company Limited, AFCONS Infrastructure Ltd, J. Kumar Infraprojects
Ltd., ITD-ITD Cem JV, Larsen & Tourbo Ltd, Gammon India Ltd, Simplex
Infrastructures Ltd, HCC-JMC and Navyuga Engg Co Ltd., among others are the
leading players operating in India rapid transit system market.
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“India rapid
transit system market is expected to grow substantially during the forecast
period on the back of increasing investment by the government of the country.
Considering
the rise in pollution, government is focusing more towards reducing the
pollution occurring from transportation industry. Additionally, factors like increasing
safety, reduction in travel time and accidents are attracting the passengers to
use public transport, thereby further fueling India rapid transit market.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
India management consulting firm.
“India Rapid Transit System Market By Type, By
Ownership, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of India rapid
transit system market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India rapid transit system market.
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