Modern Tram Market Report 2025 (Global Edition)

Global Modern Tram Market Report 2025 Market Size Split by Floor Height Outlook: (70% Low Floor, 100% Low Floor), by Application Outlook: (Scenic Spot, Urban Traffic), by Power Supply System Outlook: ...

Modern Tram Market Report Description

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Competitive Landscape of the Modern Tram Market

This market is made up of different companies that deal with the design, production, and operation of trams. Innovations in technology, safety features, and customer service define the competition. Businesses are constantly changing to satisfy the changing demands of urban transport while negotiating legal restrictions and pressures from the global economy. The competitive landscape also comprises alliances and partnerships that strengthen the capabilities and services of enterprises within the industry.

In February 2024, A Chinese business called CRRC Changchun specialises in producing trains, locomotives, and other parts for use in railway transportation. Opened Chongqing, China's first medium-capacity monorail train. This straddle-style monorail has a tight turning radius, outstanding climbing capabilities, and high environmental adaptability. Each vehicle has a maximum speed of 80 km/h and can accommodate up to 136 passengers. Its adaptable design accommodates different passenger needs, and its low noise level and lightweight design make it environmentally friendly. (Source: https://www.chinadaily.com.cn/a/202403/22/WS65fd4f40a31082fc043be346.html ) In May 2022, Cairo, Egypt, launched the biggest monorail system in the world, which connects the eastern and western regions. A Canadian corporation called Bombardier Transportation has successfully finished monorail projects. (Source: https://www.hillintl.com/wp-content/uploads/2022/05/22-05-24-ENR-Worlds-Longest-Monorail-Takes-Shape-in-Egypt.pdf )

Top Companies Market Share in Modern Tram Industry: (In no particular order of Rank)

• Škoda Transportation
• Alstom
• Siemens
• Hitachi Rail Italy (Formerly AnsaldoBreda)
• CAF
• Bombardier
• Inekon Trams
• General Electric
• Kinki Sharyo
• Kawasaki
• Brookville Equipment
• General Motors
• Transmashholding (TMH)
• CRRC
• Xinzhu
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Modern Tram Market

Which Region Dominates the Modern Tram Market in 2024?

According to Cognitive Market Research, North America currently dominates the Modern Trams market, and the region is expected to have significant growth during the projected period. There is a growing need for dependable and effective public transit networks as North American cities continue to grow. Trams provide an economical and environmentally friendly way to reduce traffic and enhance urban mobility.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The Asia Pacific region's cities are rapidly becoming more urbanised and populated, which is increasing pollution and traffic. A durable and effective answer to these problems is provided by contemporary trams.

The current report Scope analyzes Modern Tram Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Modern Tram Market Analysis

According to Cognitive Market Research, the global Modern Tram market size was estimated at USD 28142.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 11257.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Modern Tram market with a market size of USD 8881.77 million in 2024 and is projected to grow at a CAGR of 5.9% during the forecast period. The US government, along with state and local authorities, is increasingly investing in sustainable transportation infrastructure.
• The Canada Modern Tram market had a market share of USD 1350.84 million in 2024 and is projected to grow at a CAGR of 6.9% during the forecast period. The Canadian government has been actively investing in sustainable transportation initiatives.
• The Mexico Modern Tram market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 1024.39 million in 2024.

Europe Modern Tram Market Analysis

According to Cognitive Market Research, the global Modern Tram market size was estimated at USD 28142.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 8442.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.

• The United Kingdom Modern Tram market had a market share of USD 1418.38 million in 2024 and is projected to grow at a CAGR of 7.2% during the forecast period. Governments across the UK are investing heavily in public transportation infrastructure.
• The France Modern Tram market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 776.73 million in 2024.
• According to Cognitive Market Research, the German Modern Tram market size was valued at USD 1671.66 million in 2024 and is projected to grow at a CAGR of 6.6% during the forecast period. The German government has set ambitious targets for reducing greenhouse gas emissions and promoting sustainable mobility.
• The Italy Modern Tram market is projected to witness growth at a CAGR of 5.8% during the forecast period, with a market size of USD 726.08 million in 2024.
• The Russia Modern Tram market is projected to witness growth at a CAGR of 5.4% during the forecast period, with a market size of USD 1308.63 million in 2024.
• The Spain Modern Tram market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD 692.31 million in 2024
• The Luxembourg Modern Tram market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 261.73 million in 2024.
• The Portugal Modern Tram market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 177.30 million in 2024.
• The Greece Modern Tram market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 101.31 million in 2024.
• The Rest of Europe's Modern Tram market is projected to witness growth at a CAGR of 5.1% during the forecast period, with a market size of USD 1308.63 million in 2024.

Asia Pacific Modern Tram Market Analysis

According to Cognitive Market Research, the global Modern Tram market size was estimated at USD 28142.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 6472.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.9% from 2024 to 2031.

• According to Cognitive Market Research, the China Modern Tram market size was valued at USD 2912.75 million in 2024 and is projected to grow at a CAGR of 9.4% during the forecast period. Rising air pollution levels in Chinese cities have prompted a shift towards sustainable transportation solutions.
• The Japan Modern Tram market is projected to witness growth at a CAGR of 8.4% during the forecast period, with a market size of USD 893.24 million in 2024.
• The India Modern Tram market had a market share of USD 776.73 million in 2024 and is projected to grow at a CAGR of 11.7% during the forecast period. India's rapid urbanization is leading to increased traffic congestion and pollution in major cities.
• The South Korean Modern Tram market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 647.28 million in 2024.
• The Australian Modern Tram market is projected to witness growth at a CAGR of 9.6% during the forecast period, with a market size of USD 336.58 million in 2024.
• The South East Asia Modern Tram market is projected to witness growth at a CAGR of 10.9% during the forecast period, with a market size of USD 446.62 million in 2024.
• The Rest of Asia Pacific Modern Tram market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 459.57 million in 2024.

South America Modern Tram Market Analysis

According to Cognitive Market Research, the global Modern Tram market size was estimated at USD 28142.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 1407.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Modern Tram market size was valued at USD 602.25 million in 2024 and is projected to grow at a CAGR of 7.9% during the forecast period. Brazil's urban areas are experiencing rapid growth, leading to increased traffic congestion and the need for efficient public transportation systems.
• Argentina's Modern Tram market had a market share of USD 236.40 million in 2024 and is projected to grow at a CAGR of 8.2% during the forecast period. The Argentine government is committed to reducing carbon emissions and promoting sustainable transportation.
• Colombia Modern Tram market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 125.23 million in 2024.
• Peru Modern Tram market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 115.38 million in 2024.
• Chile Modern Tram market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 101.31 million in 2024.
• The Rest of Latin America's Modern Tram market is projected to witness growth at a CAGR of 6.4% during the forecast period, with a market size of USD 226.55 million in 2024.

Middle East Modern Tram Market Analysis

According to Cognitive Market Research, the global Modern Tram market size was estimated at USD 28142.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 562.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031..

• The GCC Countries Modern Tram market is projected to witness growth at a CAGR of 8.4% during the forecast period, with a market size of USD 240.90 million in 2024. The rapid urbanization and increasing population in GCC countries are leading to higher demand for efficient and sustainable public transportation systems.
• The Egypt Modern Tram market is projected to witness growth at a CAGR of 7.9% during the forecast period, with a market size of USD 59.10 million in 2024.
• The South Africa Modern Tram market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 88.93 million in 2024. As cities in South Africa continue to expand and populations grow, the demand for efficient and sustainable public transportation solutions increases.
• The Turkey Modern Tram market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 48.41 million in 2024.
• The Nigeria Modern Tram market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 59.10 million in 2024.
• The Rest of the MEA Modern Tram market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 66.42 million in 2024.

Modern Tram Market Analysis

How are Segments Performing in the Global Modern Tram Market?

Modern Tram Market Floor Height Segment Analysis

According to Cognitive Market Research, 70% Low Floors are likely to dominate the Modern Tram Market over the forecast period. Low-floor trams have become more well-known because of their accessibility features, which make it simpler for passengers to board and support international efforts to make public transport more inclusive.

The 100% Low Floor is the fastest-growing segment in the Modern Tram Market. Despite being less frequent, high-floor trams are renowned for their greater speed and capacity, which makes them appropriate for crowded city streets. Due to their ability to manoeuvre around tight corners while preserving passenger comfort in crowded cities, articulated trams are especially important to the market.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Modern Tram Industry. Request a Free Sample PDF!

Modern Tram Market Application Segment Analysis

According to Cognitive Market Research, the Scenic Spot segment holds the largest share of the market. The market for contemporary trams is expected to continue expanding due to government assistance, technical improvements, and sustainable tourism trends, especially in the scenic site sector. Because they provide a distinctive fusion of tourism, urban renewal, and transportation, scenic spot trams are a desirable choice for locations looking to boost their allure and encourage eco-friendly travel strategies.

In the Modern Tram Market, the Urban Traffic sector has been expanding at a rapid pace. The modern tram market, particularly the urban traffic segment, is poised for significant growth in the coming years. As cities strive to address the challenges of urban mobility and environmental sustainability, trams are likely to play an increasingly important role in shaping the future of urban transportation.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Modern Tram Power Supply System Outlook: Segment Analysis

Modern Tram Market Power Supply System Segment Analysis

According to Cognitive Market Research, the Catenary Power Supply segment holds the largest market share. Catenary systems are the traditional method of supplying power to trams. They consist of overhead wires suspended from masts or structures along the tram route. A pantograph on the tram collects electricity from the catenary wire, powering the vehicle's motors.

In the Modern Tram market, the rapidly growing sector is the Energy Storage Power Supply category. Energy storage power supply systems are a key component of this growth, enabling trams to operate more efficiently, sustainably, and reliably. As technology continues to evolve and costs decrease, the adoption of energy storage solutions in the tram market is expected to accelerate.

• Catenary Power Supply
• Ground Power Supply
• Energy Storage Power Supply

Modern Tram Shape System Outlook: Segment Analysis

Modern Tram Market Shape System Segment Analysis

According to Cognitive Market Research, the Steel Wheel Rail Type segment dominates the market. The modern tram market, particularly the steel wheel rail type segment, is poised for continued growth in the coming years. The combination of urbanization, environmental concerns, government support, and technological advancements is creating a favourable environment for the adoption of trams as a sustainable and efficient mode of urban transportation.

Rubber Wheel Guide Rail Type is projected to be the fastest-growing segment in the Modern Tram market. The increasing concentration of people in urban areas leads to a heightened demand for efficient and sustainable public transportation solutions. Rubber wheel guide rail systems offer a flexible and adaptable alternative to traditional rail systems, capable of navigating urban environments with greater ease.

• Steel Wheel Rail Type
• Rubber Wheel Guide Rail Type

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Sumedha Gosavi

Research Associate at Cognitive Market Research

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