Trams are light weight vehicles that usually runs along an urban area or street. Trams can be classified into two types; single ended trams and double ended trams. Trams consist of a tractor unit and one or more than one trailer for passengers. Also, trams offer shuttle services between public accommodations, amusement parks, and recreational areas, with passenger capacity staring from tens to a couple of hundred.
Trams: Market Drivers and Challenges
The growing population in metropolitan cities and the increasing number of daily commuters, especially in developed and developing countries, are projected to drive the demand for trams in the coming years. Tram trucks are an integral part of short distance transportation network around the globe, and it is stipulated to play a key role in the growth of the global trams market with the current scenario of urbanization, changing travel behavior, and increasing public density. Additionally tourism and recreation sectors have incorporated trams at several sites for leisure based travel.
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Between the designs types of trams, single ended trams have the engine at one end only thus can be driven from direction. Conversely, double ended trams have the engines at both the end of the vehicle and can be operated by two drivers sitting at both ends. Thus the operator doesn’t have to walk back to the other end. Hence, in the recent past, the double ended design type has been witnessing significant demand over single ended trams, and it is expected to remain a dominant segment over the projected period.
Further, increasing consumer spending on travel with comfort for short distance is anticipated to enrich the trams market during the forecast period. Additionally, increasing government investments for new projects for making ease in travelling, such as metro, monorails, and trams, is another factor that significantly contributes to the growth of the global trams market. Furthermore, merger and acquisitions among the top rolling stock manufacturers have eased the way trams manufacturers do business by streamlining operations. Moreover, increasing population density is also estimated to enhance the selling of trams throughout the forecast period.
Also, electrically driven trams have a long term and significant role in reducing carbon footprint; thus the interest in installing new tramways for trams has revived due to the growing environmental concern. Additionally, solar powered trams, an emerging trend, have many advantages over traditional trams, which in turn, is expected to create significant opportunities in the trams market during the projected period.
On the flip side, easy, time-saving and economical availability of alternative modes of transportation such as metro rail transportation system, such as two wheelers or shared cab services, could off-track the growth of the trams market.
Trams: Market Segmentation
On the basis of passenger capacity, the global trams market can be segmented into the following:
- Below 60 Passengers
- Between 60 to 150 Passengers
- More than 150 Passengers
On the basis of design, the global trams market can be segmented into the following:
- Single Ended Trams
- Double Ended Trams
Trams: Regional Market Outlook
At the regional level, Europe is anticipated to dominate the global trams market owing to the region’s increasing fleet of rolling stock such as trams and others, particularly in Germany, Italy, France, and Spain. New railway projects, particularly in the United States for locomotives, trams and iron and steel, are anticipated to create significant opportunities in the trams market over the forecast period. Japan and China are expected to hold a substantial share in the global trams market. Rest of the regions, including India, Latin America, and the Middle East & Africa, are at an introductory phase, and expected to grow at a moderate growth rate during the stipulated period.
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Trams: Key Market Players
Some of the market participants in the global trams market identified across the value chain include:
- Hitachi Rail Italy SpA
- Stadler Rail AG
- CAF, Construcciones y Auxiliar de Ferrocarriles, S.A
- LUCCHINI RS S.P.A.
- Chinese South Locomotive and Rolling Stock Industry (Group) Corporation ( CRRC)