Report Description

India Rapid Transit System Market is anticipated to grow at a robust CAGR during the forecast period owing to rapid urbanization and increasing investments in the market.

The Indian government's goal to create 100 smart cities would undoubtedly hasten the trend of urbanization in the nation. A reliable transport system is one essential component for the development of the correct urban infrastructure. Metro projects have significantly improved the convenience of life in metropolitan areas by increasing connection, reducing commute time, and reducing congestion. Additionally, it has helped to open up chances for both direct and indirect employment. It is anticipated that as metro systems spread throughout cities, local and intercity travel will become simpler, mobility and connectivity will improve, and local businesses would also benefit.

Mass Rapid Transit (MRT) or Rapid Transit System, also referred to as heavy rail or metro, is a mass public transportation in urban areas. Rapid Transit Systems that operate usually or traditionally underneath the surface may be referred to as tube, subways, or underground.

Stations typically have excessive structures and no steps in the trains, which requires custom trains to reduce the space between the train and the platform.

For the purposes of the evaluation, mass rapid transit is defined as public transportation services that significantly collectivize or combine individual trips into shared trunk links.


It includes those modes that use a particular fixed track or the exclusive and independent use of a road track that may have several users. Thus, it encompasses fully or substantially segregated busways but not bus lanes or other types of bus priority in mixed traffic. The nature and importance of secondary access and egress points to the trunk facility are taken into account while evaluating the entire system. The review takes into account urban communities of various sizes and is not restricted to the experience of megacities.


In developing cities, mass transit is fundamentally required to move lots of people quickly. This necessitates both cheap cost (therefore low fares) and quickness in operation in the absence of significant subsidies. The phrase "mass rapid transit" is chosen since the speed is essential to securing its impact.

Bus Rapid Transit (BRT) is a high-quality bus-based mass transit system that offers fast, convenient and affordable service at metro level. This is achieved by providing dedicated lanes with bus lines and iconic train stations, off-board ticket collection and fast, frequent service, usually placed in the middle of the street. BRT is much more reliable, convenient and faster than regular bus services as it functions like a light rail or subway system. With proper functionality, BRT can avoid sources of delay that slow down normal bus services, such as getting stuck in traffic and having to pay on board.

Rise in projects for Rapid Transit Systems is fueling the market growth
Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS). The project is valued at USD3.8 billion and intends to connect the state capital to Meerut via Ghaziabad. The route is 82-kilometer long and aims to end the journey in 60 minutes using fast, eco-friendly public transport. RRTS is the first high-speed regional rail system of its kind to be implemented in India. Once operational, it will be the fastest, most convenient and safest commuter transportation option in the National Capital Region (NCR). Of the 82.15 km, 68.03 km will be elevated and 14.12 km underground. Through this project, RRTS trains will reduce pollution and road congestion and carry more than 1,000 private vehicles off-road. High-speed mobility also promotes increased economic activity and balanced socio-economic growth, improving the quality of life of citizens. Covering 18 kilometers between Modi Puram and Meerut South stations on the RRTS infrastructure, the 12-station metro service will meet the local mobility needs of Meerut citizens and provide efficient regional connectivity. The project is being by implemented by a special purpose vehicle (SPV), the Central Metropolitan Transportation Corporation (NCRTC), as joint property of the Center and the State Government, contributing equally. Through this project, the government expects to integrate and interoperate RRTS stations with other transportation modes such as airports, rail, metro, and ISBT, so that traveling from one RRTS corridor to another will not require transfers. The Delhi-Ghaziabad-Meerut RRTS Corridor is the first of three priority corridors planned for implementation in Phase 1. The other two corridors are the Delhi-Gurugram-Alwar Corridor and the Delhi-Panipat Corridor.

In 2021, the Government of India and the European Investment Bank signed a financing agreement for the first tranche loan of USD265.72 million for the Agra Metro Railway Project. The EIB had approved loans totaling USD478.31 million to finance the Agra Metro Project. The project aims to provide the city of Agra with a safe, reliable, affordable and environmentally friendly public transport system. This will improve mobility and support the planned urban development efforts in Agra. EIB financing would be provided for Corridor 1 (14 km) from Sikandra to Taj East Gate in Agra City and Corridor 2 (2024) from Agra Kant to Kalinda Vihar. The Residential Urban Unit is the department responsible for the project and Uttar Pradesh Metro Rail Corporation Ltd. (UPMRCL) is the implementing agency.

Latest Projects in India are driving the market growth

  • The Asian Development Bank (ADB) and the Government of India signed a USD 350 million loan to build a new line and improve connectivity between the Chennai metro system and the city's existing public transport system.  Tranche 1 Loan was approved by ADB on December 8, 2022, which is a part of USD780 million Multitranche Financing Facility (MFF) for a project to develop three new metro lines in Chennai. This investment project will support the development of three new metro lines:  3, 4 and 5. For Line 3, the project will construct a 10.1 kilometer (km) elevated section between Sholinganallur and Tamil Nadu State Industrial Development Corporation. For Line 4, the project will support the construction of a 10km underground section including 9 stations between Lighthouse and Meenakshi College. For Line 5, 31 km of system components such as electrical, mechanical, power and communication infrastructure between Chennai Mofussil Bus Terminus shall be funded. Stations include disaster and climate resistant features to address the needs of seniors, women, children, the disabled and transgender people.
  • The government has allocated a total of USD2,364.8 million for all metro projects across India in the Union Budget for 2023-2024. The Center allocated USD435.70 (to the National Capital Region Transport Corporation (NCRTC) for the country's first Regional Rapid Transit System.
  • In 2022, French rail maker Alstom is expanded its operations in India, winning orders to supply trains for two more metro projects. The company will supply 66 metro cars for the Pune metro project, a joint venture between TRIL Urban Transport, a Tata Group company, and Siemens Project Ventures. Alstom has started implementation of USD84 million project connecting Shivajinagar with  Hinjewadi Rajiv Gandhi Infotech Park via Balewadi in Pune. The company was also awarded contract to design, manufacture, supply, test and commission 312 standard gauge metro rolling stock for Delhi Metro Rail Corporation (DMRC) Phase IV extension. The value of the order is USD332.2 million.



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Market Segmentation

India Rapid Transit System market is segmented into type, ownership, region and competitive landscape. Based on type, the market is segmented into metro rail, busways and bus, regional rail and tramways. Based on ownership, the market is segmented into central government, state government and public and private partnerships.

Market player

Major market players in the India Rapid Transit System market are 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. 

Attribute

Details

Base Year

2022

Historic Data

2018– 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

By Type

By Ownership

Regional scope

North India, South India, West India, East India  

Key companies profiled

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

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, India Rapid Transit System Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

·         India Rapid Transit System Market, By Type:

o   Metro Rail

o   Busways & Bus

o   Regional Rail

o   Tramways  

·         India Rapid Transit System Market, By Ownership:

o   Central Government

o   State Government

o   Public & Private Partnership  

·         India Rapid Transit System Market, By Region:

o   North India

o   South India

o   West India

o   East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Rapid Transit System market.

Available Customizations:

India Rapid Transit System market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

·         Detailed analysis and profiling of additional market players.

The India Rapid Transit System market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.3.  Markets Covered

1.4.  Years Considered for Study

1.5.  Key Market Segmentations

2.    Research Methodology

2.1.  Baseline Methodology

2.2.  Key Industry Partners

2.3.  Major Association and Secondary Sources

2.4.  Forecasting Methodology

2.5.  Data Triangulation & Validation

2.6.  Assumptions and Limitations

3.    Executive Summary

4.    Impact of COVID-19 on India Rapid Transit System Market

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Key factors for selecting service provider

5.3.  Key satisfaction level

5.4.  Key challenges faced  

6.    India Rapid Transit System Market Outlook

6.1.  Market Size & Forecast

6.1.1.            By Value (USD Billion) & Volume (Km)

6.2.  Market Share & Forecast

6.2.1.            By Type (Metro Rail, Busways & Bus, Regional Rail, Tramways)

6.2.2.            By Ownership (Central Government, State Government, Public & Private Partnership)

6.2.3.            By Region

6.2.4.            By Company

6.3.  Market Map

7.    India Metro Rail Rapid Transit System Market Outlook

7.1.  Market Size & Forecast

7.1.1.            By Value & Volume

7.2.  Market Share & Forecast

7.2.1.            By Ownership

7.2.2.            By Region

8.    India Busways and Bus Rapid Transit System Market Outlook

8.1.  Market Size & Forecast

8.1.1.            By Value & Volume

8.2.  Market Share & Forecast

8.2.1.            By Ownership

8.2.2.            By Region

9.    India Regional Rail Rapid Transit System Market Outlook

9.1.  Market Size & Forecast

9.1.1.            By Value & Volume

9.2.  Market Share & Forecast

9.2.1.            By Ownership

9.2.2.            By Region

10. India Tramways Rapid Transit System Market Outlook  

10.1.   Market Size & Forecast

10.1.1.          By Value & Volume

10.2.   Market Share & Forecast

10.2.1.          By Ownership

10.2.2.          By Region

11. Market Dynamics

11.1.   Drivers

11.1.1.          Helping in improving environment  

11.1.2.          Improving regional connectivity

11.2.   Challenges

11.2.1.          High Implementation costs  

12. Market Trends & Developments

12.1.   Increase in speed, capacity and quality of transportation systems

13. Policy & Regulatory Landscape

14. India Economic Profile

15. Company Profiles

15.1.   Delhi Metro Rail Corporation  

15.1.1.          Business Overview

15.1.2.          Key Revenue and Financials (If available)

15.1.3.          Recent Developments

15.1.4.          Key Personnel

15.1.5.          Key Product/Services Offered

15.2.   Bangalore Metro Rail Corporation Limited  

15.2.1.          Business Overview

15.2.2.          Key Revenue and Financials (If available)

15.2.3.          Recent Developments

15.2.4.          Key Personnel

15.2.5.          Key Product/Services Offered

15.3.   Reliance Infrastructure Limited  

15.3.1.          Business Overview

15.3.2.          Key Revenue and Financials (If available)

15.3.3.          Recent Developments

15.3.4.          Key Personnel

15.3.5.          Key Product/Services Offered

15.4.   Larsen & Toubro Ltd  

15.4.1.          Business Overview

15.4.2.          Key Revenue and Financials (If available)

15.4.3.          Recent Developments

15.4.4.          Key Personnel

15.4.5.          Key Product/Services Offered

15.5.   Mumbai Metropolitan Region Development Authority (MMRDA)  

15.5.1.          Business Overview

15.5.2.          Key Revenue and Financials (If available)

15.5.3.          Recent Developments

15.5.4.          Key Personnel

15.5.5.          Key Product/Services Offered

15.6.   IL&FS Engineering and Construction Company Limited   

15.6.1.          Business Overview

15.6.2.          Key Revenue and Financials (If available)

15.6.3.          Recent Developments

15.6.4.          Key Personnel

15.6.5.          Key Product/Services Offered

15.7.   Ahmedabad Janmarg Limited  

15.7.1.          Business Overview

15.7.2.          Key Revenue and Financials (If available)

15.7.3.          Recent Developments

15.7.4.          Key Personnel

15.7.5.          Key Product/Services Offered

15.8.   AFCONS Infrastructure Ltd

15.8.1.          Business Overview

15.8.2.          Key Revenue and Financials (If available)

15.8.3.          Recent Developments

15.8.4.          Key Personnel

15.8.5.          Key Product/Services Offered

15.9.   J. Kumar Infraprojects Ltd.  

15.9.1.          Business Overview

15.9.2.          Key Revenue and Financials (If available)

15.9.3.          Recent Developments

15.9.4.          Key Personnel

15.9.5.          Key Product/Services Offered

15.10.Lucknow Metro Rail Corporation  

15.10.1.       Business Overview

15.10.2.       Key Revenue and Financials (If available)

15.10.3.       Recent Developments

15.10.4.       Key Personnel

15.10.5.       Key Product/Services Offered

16. Strategic Recommendations

16.1.   Dominating Market by Ownership

16.2.   Fastest Growing Market by Type

16.3.   Dominating Market by Region

17. About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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Metro Rail is expected to dominate the market during the forecast period due to an increase in government spending on the expansion of current metro network.

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Major market players in the India Rapid Transit System market are 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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Increase in projects whether building a new metro route and expanding the existing one along with starting of Regional Rapid Transit System (RRTS) are expected to drive the India Rapid Transit System Market.

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Successful use of rapid transit brings important benefits to the community, including better air quality, less land use than car-dependent transportation systems, less energy requirements, and less accidents.

profile

Srishti Verma

Business Consultant
Press Release

India Rapid Transit System Market to be dominated by Metro Rail segment through 2028

Jun, 2023

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.