India Rapid Transit System Market to be dominated by Metro Rail segment through 2028
Rise in demand for public transport system and investment in metro rail
are the major factors propelling the India Rapid Transit System Market growth during
the forecast period.
According to TechSci Research report, “India Rapid Transit System Market - By Region, Competition
Forecast & Opportunities, 2018-2028,” the
India Rapid Transit System Market is expected to register robust growth during the forecast period, 2024-2028.
Mass Transit System refers to public
transportation, including trains, buses, ferries and many others that can travel
passengers from starting place to vacation spot on a no-reserved basis and in
lesser time. It could additionally be termed as public transport.
Rapid transit or mass transit includes subways and
surface mild rail structures, designed for commuting inter-metropolis or
intra-city. Mass transit can be based totally on constant path system together
with subway trains, metros or non-constant direction system such as buses. It
is more budget friendly. Moreover, it's the most effective way of reducing the
ever-developing congestion of the growing metropolis.
The
development of mass transit not only improves the availability and efficiency
of the public transit system, but also leads to increased business in
commercial development and helps improve the economy of the country. Mass transit
systems offer significant savings in labor, materials, and energy compared to
civilian transportation systems. Public transportation also has a modest
capacity compared to private vehicles, allowing large amounts of luggage to be
transported to distant destinations in a short period of time. It also helps
conserve fuel due to its large capacity and can carry highly efficient engines.
Browse over XX market data Figures spread
through 70 Pages and an in-depth TOC on the "India Rapid Transit System Market."
The India Rapid Transit
System Market is segmented into type, ownership, region and competitive
landscape. On the basis of type, the
market is divided into metro rail, busways & bus, regional rail, and
tramways. During the projected period, the metro rail segment
by type is expected to dominate the market. There are currently 16 operating
metro systems in 15 cities across India, with Delhi Metro being the largest. As
of December 2022, India has 822,038 km of metro lines in operation and 16
systems. Another 568.15 kilometers of track is under construction. In 2022, the
center's government has received 16 proposals for metro projects from states
and federal territories. The proposal includes three regional rapid transit
systems connecting different parts of Haryana and Rajasthan to Delhi and two
regional rapid transit systems in Jammu and Kashmir. Of the 16 proposals, most
(three) came from Maharashtra and included the construction of the 43.80 km
second phase of the Nagpur Metro within five years of the date of approval.
Similarly, the state has submitted a proposal to complete the 33 km-long Nashik
Metro within four years of the approval date. The third proposal is the 29 km
long Thane Internal Ring project, which is expected to be completed within five
years from the grant date. The Delhi government has submitted a proposal for
the construction of the remaining three corridors (total length of 43.677 km)
of the Delhi Metro as part of the 4th phase. These projects are expected to drive
the India Rapid Transit System during the forecast period.
Key market players in the India Rapid Transit System Market: -
·
Delhi
Metro Rail Corporation
·
Bangalore
Metro Rail Corporation Limited
·
Reliance
Infrastructure Limited
·
Larsen
& Toubro Ltd
·
Mumbai
Metropolitan Region Development Authority (MMRDA)
·
IL&FS
Engineering and Construction Company Limited
·
Ahmedabad
Janmarg Limited
·
AFCONS
Infrastructure Ltd
·
J.
Kumar Infraprojects Ltd.
·
Lucknow Metro Rail Corporation
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"India Rapid
Transit System Market is expanding at a rapid pace. The Indian government is
investing a huge amount of money which won’t only make the connectivity easier but
also reduce the negative impact on the environment due to traffic jams. In the
union budget of 2023-2024, the Indian government allocated USD2,364.8 million
for upcoming metro projects in the country, thus driving the India Rapid
Transit System Market." said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“India Rapid Transit System Market By
Type (Metro Rail, Busways & Bus, Regional Rail, Tramways), By Ownership
(Central Government, State Government and Public & Private Partnership), By
Region, Competition Forecast & Opportunities, 2018-2028,” 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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