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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