Global Monorail System Market Size, Share, and COVID-19 Impact Analysis, By Type (Straddle Monorail and Suspended Monorail), By Autonomy (Semi-autonomous, Completely Autonomous, and Manual), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Global Monorail System Market Size Insights Forecasts to 2035

• The Global Monorail System Market Size Was Estimated at USD 6.89 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 4.17% from 2025 to 2035
• The Worldwide Monorail System Market Size is Expected to Reach USD 10.80 Billion by 2035
• North America is expected to Grow the fastest during the forecast period.

According to a Research Report Published by Spherical Insights and Consulting, The Global Monorail System Market Size was worth around USD 6.89 Billion in 2024 and is predicted to Grow to around USD 10.80 Billion by 2035 with a compound annual growth rate (CAGR) of 4.17% from 2025 and 2035. The market for monorail system has a number of opportunities to grow, including growing urban traffic congestion, a growing need for environmentally friendly and low emission public transportation, significant government spending on urban transit infrastructure, and technical advancements like electric propulsion and autonomous operation.   

Market Overview

A monorail system is a type of railroad where a car moves along just one beam or rail. The industry of the monorail system is undergoing significant changes fueled by technological advancements, environmental concerns, and urbanization. As cities globally grapple with increasing levels of pollution and traffic congestion, the urgency for efficient public transport networks is greater than ever. According to the U.S. Department of Transportation, the number of individuals boarding public transport in the U.S. alone reached 9.7 billion in 2019, demonstrating that the need for innovative forms of transport, including monorails, continues to advance. These demands will likely continue to grow as cities look for sustainable solutions for urban mobility. Monorails are ideal for densely populated cities due to their small footprints, enabling them to navigate steep grades and sharp curves that other transportation options cannot. Monorails are becoming a key component in improving connectivity across metropolitan networks, as urban planners seek efficient public transportation methods. A recent example includes the Kuala Lumpur monorail system announced major infrastructure upgrades in 2022 that allow it to reach a passenger capacity of 33% greater than the previous design. Similarly, projects in Mumbai are underway to expand the monorail system connectivity to more suburbs by 2026.

Governments are increasingly promoting monorail systems as part of integrated urban mobility solutions in congested or difficult to reach areas. The state government of Chennai, India, proposed constructing a 300 kilometer network of monorail tracks to improve the metro system and boost public transportation use in the Chennai Metropolitan Area. China's first suspended monorail line was opened to the public in Wuhan, the provincial capital of Hubei, in October 2023. Six stations are situated in Wuhan's Optics Valley, a national innovation demonstration zone, along the 10.5-km first segment of the line.

Report Coverage

This research report categorizes the monorail system market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the monorail system market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the monorail system market. 

Driving Factors

The monorail system market is driven by the electric monorail systems, each motorized carrier is powered by a track Mounted bus bar. These are typically used in supply systems that require accumulation or in production areas. By using an electric monorail system, the carrier can travel at a wide range of speeds from 8 to 400 fpm, thereby allowing the carrier to speak, fast track, accumulate, travel extremely fast, sneak under a precise location to self create work, etc. Further, a computer can be added to the electric monorail system to enable any decision making of other paths, independently from the centralized conveyor system of choice. The World Bank estimates that there are 4.5 billion citizens around the globe, representing 6% of the population, who inhabit urban environments. The existing urban population is predicted to more than double by 2050, signifying that this trend towards urbanization will continue. At this time, 70% of the world's population will live in cities.    

Restraining Factors

The monorail system market is restricted by factors like the high installation expense in contrast with electric railway systems. The high installation costs present an opportunity for manufacturers to enter the markets, especially in developed and emerging markets.

Market Segmentation

The monorail system market share is classified into type and autonomy.  

• The straddle monorail segment dominated the market in 2024, accounting for approximately 70% and is projected to grow at a substantial CAGR during the forecast period.

Based on the type, the monorail system market is divided into straddle monorail and suspended monorail. Among these, the straddle monorail segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The segment is driven because the straddle configuration of the monorail is based on a highly efficient guideway design. The guideway's slim beam is constructed off site, allowing the public to enjoy the route corridor while still under construction. The finished guideway utilizes substantially less building material and allows higher levels of light translucence when compared to traditional bridge designs used in transit vehicles currently. As a result, its construction costs are considerably lower.   

• The completely autonomous segment accounted for the largest share in 2024, accounting for approximately 40% and is anticipated to grow at a significant CAGR during the forecast period.

Based on the autonomy, the monorail system market is divided into semi-autonomous, completely autonomous, and manual. Among these, the completely autonomous segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The dominance is due to the high safety and reliability, increased availability, fast system delivery, smooth integration, and expanding installation. For example, in March 2021, a fully automated driverless monorail was opened in Wuhu, eastern China. This monorail operates autonomously through a technology known as Automatic Train Operation. Both Alstom and CRRC jointly designed the monorail project at a cost of approximately 8 billion yuan. Wuhu Line 1, which is newly constructed, is an elevated monorail capable of speeds up to 80 kilometers per hour and incorporates ATO GoA4 as a sophisticated level of automatic train operation.  

Regional Segment Analysis of the Monorail System Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share, representing nearly 40% of the monorail system market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share, representing nearly 40% of the monorail system market over the predicted timeframe. In the Asia Pacific market, the market is rising because the most of the active projects are located in China, India, and the ASEAN region. India got its first monorail project, which cost an estimated USD 5019 million, put into operation in March 2019 in Mumbai. Rapid urbanization, increasing traffic, and population growth are expected to greatly accelerate the growth of the market in the region. Monorail systems benefit from limited space availability, high daily commuters, rapid urbanization, and greater highway traffic, and thus, governments are embracing monorail systems.  

China is a major player in the monorail systems market. Urbanization and population growth drive the demand for public transit systems such as monorails. Growth will also be supported by strong government support for the construction of monorail lines. Growth in monorail systems development will be enhanced due to increased investment in the development of these systems. Innovation in technology, such as magnetic levitation, has been a driving force in the industry as uptake has brought predictable changes in the megacity favelas.

India's monorail system market is growing rapidly due to the rising population and increased traffic congestion, issues has generated higher demand for monorail systems. The government's substantial investments in infrastructure and increased emphasis on urban mobility have increased interest in building monorail systems. In addition, the overall growth of the market is being driven by improvements in monorail systems and the increasing requirement for a sustainable transportation network.

North America is expected to grow at a rapid CAGR, representing nearly 21% in the Monorail System market during the forecast period. The North American area has a thriving market for monorail systems due to increasing investments, technical developments, and increasing usage of monorail systems. Additionally, increasing public private cooperation is aiding market growth. The governments of the United States and Canada engage with private organizations for the construction of clean monorails for their respective countries by providing funding and other important support. Six monorail systems will be located in Canada, while 16 monorail systems currently operate in the United States as of September 2023. The increasing demand for public transportation is creating a growing monorail system market. Public transit is provided by around 6,800 organizations in the United States. The growth in the North American market is driven by increasing investments in upgrading public transportation infrastructure.

The United States monorail system market is growing rapidly because of the sizable investments that are being made into the public transportation system. The acceleration of monorail system development is further facilitated by the necessity to continue growing urban transportation systems. Moreover, market growth is driven by increasing implementation of advanced monorail systems technology, such as automated control systems, enhanced propulsion systems, and predictive maintenance capacities.

Europe is experiencing an extraordinary growth in the market for monorail systems, with 18% due to the adoption of monorail systems is growing as the need for effective public transportation grows and traffic congestion worsens. Growth in the market is supported by the focus on carbon reduction and the use of sustainable transportation systems. Furthermore, the ongoing advancement in monorail systems, such as automated control, sophisticated propulsion systems, and Internet of Things based information, supports expansion in the market. Significant capital investment in infrastructure growth and smart city initiatives facilitates overall market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the monorail system market, along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Hitachi, Ltd.
• CRRC Corporation Limited
• Bombardier
• Siemens AG
• Alstom SA
• Mitsubishi Heavy Industries
• BYD Company Ltd.
• Scomi Engineering Bhd
• Thales Group
• Aerobus International, Inc.
• Intamin Transportation Ltd
• Kawasaki Heavy Industries Ltd
• China Railway Construction Corporation
• Wuhan Metro Group
• CAF
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In October 2024, KAFD launched a monorail system in Riyadh to enhance urban connectivity with a sustainable, driverless design. The system consists of 6 autonomous trains running on a circular track and spans 3.6 kilometers.  
• In October 2024, CRRC Corporation introduced two innovative green intelligent trains at InnoTrans 2024 in Berlin.  
• In July 2024, the first monorail train from China arrived in the city of Sao Paulo, Brazil. In total, 14 monorail trains have been ordered for Line 17, which is Gold in color. The second train will be delivered before the end of the year. BYD will deliver all these trains by 2025.
• In July 2024, Shanghai Mitsubishi Elevator Co., Ltd., a subsidiary of Shanghai Electric, unveiled a 12.5 meters per second ultra-high-speed elevator. This innovation sets a new record for high speed elevators manufactured in China, demonstrating the company's commitment to advancing vertical transportation technology.
• In April 2024, the Mumbai Metropolitan Region Development Authority (MMRDA) announced the trial of the first domestically manufactured monorail system at the Vadala depot. The train was developed by Medha SMH Rail and will be put into operation after dynamic testing in Mumbai.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the monorail system market based on the below-mentioned segments: 

Global Monorail System Market, By Type 

• Straddle Monorail
• Suspended Monorail

Global Monorail System Market, By Autonomy

• Semi-autonomous
• Completely Autonomous
• Manual

Global Monorail System Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa