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Metro Rail Infrastructure Market Size
- Report ID: GMI8644
- Published Date: Mar 2024
- Report Format: PDF
Metro Rail Infrastructure Market Size
Metro Rail Infrastructure Market size was valued at USD 46.8 billion in 2023 and is estimated to register a CAGR of over 6% between 2024 and 2032, attributed to rapid urbanization and population growth across several economies.
Based on the latest estimations by the Congressional Budget Office, the population of the United States could grow from 342 million people in 2024 to 383 million people by 2054. Likewise, according to the World Bank, approximately 56% of the global population, totaling 4.4 billion people, lives in cities. This trajectory could persist, with the urban population surpassing twice its current magnitude by 2050. By then, nearly 7 out of every 10 individuals could dwell in cities.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Metro Rail Infrastructure Market Size in 2023: | USD 46.8 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6% |
| 2032 Value Projection: | USD 83.8 Billion |
| Historical Data for: | 2021- 2023 |
| No. of Pages: | 260 |
| Tables, Charts & Figures: | 320 |
| Segments covered: | Component, Structure, Application and Technology |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Rapid urbanization and population growth in cities worldwide propels the demand for efficient and sustainable transportation solutions. Metro rail systems offer a reliable and environmentally friendly mode of transportation, helping to alleviate traffic congestion and reduce carbon emissions, thus contributing to market growth.
Government initiatives and investments will help shape the metro rail infrastructure market outlook through 2032. Governments often prioritize infrastructure development, including metro rail projects, to address transportation challenges, improve connectivity, and stimulate economic growth.
Quoting an instance, in January 2023, in a bid to enhance mobility and safety, the Government of Maharashtra greenlit a master plan to construct a comprehensive metro network for the city. Spanning 337 kilometers and consisting of 14 lines, this metro network endeavors to alleviate the daily commuting challenges faced by millions of residents. Besides, substantial investments in metro rail infrastructure are being made to modernize existing systems, expand networks, and integrate with other modes of transportation. This will further help carve a healthy growth trajectory for the metro rail infrastructure market over the coming years.
That being said, establishing metro rail systems requires substantial upfront capital investment for construction, land acquisition, technology, and equipment. The significant financial commitment often poses a challenge for governments and private investors, particularly in regions with limited infrastructure funding or competing priorities, thus limiting market growth.
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Metro Rail Infrastructure Market Scope
