Rapid, and mostly ill-planned urbanization, has made traffic snarls the bane of city life. They not just cause air and sound pollution but also lead to loss in productivity of people. Further, they also up chances of accidents. This has necessitated controlling the menace through various methods. One of them is the urban transport systems market. Government and local authorities are increasingly pouring money into urban transport systems market to tackle the growing problem of congestion and casualties.
However, the high cost of urban transport systems is crimping their sales. Operations and maintenance of such systems is also expensive. This is another factor posing a challenge to the market.In the near future, with increasing revenue collection through various forms of cess, use of FSIs and TDRs, authorities are expected to be able to gather funds to install and operate the expensive urban transport systems successfully.
The different types of urban transport systems in the market are semi-rapid transit, rapid transit, and street transit. The street transit mode can again be divided into public transit modes, for-hire transit modes, and private transit modes. Depending upon the type of city again, the urban transport systems market can be divided into urban, metropolitan, and semi-urban cities. The segmentation is basically made on the basis of the size of the population.
North America, South America, Europe, Asia Pacific, and the Middle East and Africa are some of the key regional segments in the market for urban transport systems.Egis S.A., Aurecon Group Brand (Pte) Ltd., Ericsson Inc., ILF Consulting Engineers, s.r.o., SWARCO AG, Urban Mass Transit Company Ltd, Siemens AG, Toyota Motor Corporation, Moataz Makki Engineering Consultancy, and Mitsubishi Heavy Industries Group are to name a few key players in the global market for urban transport systems market.
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Urban transport systems refers to highly accessible transport infrastructures that assists in urban movements of passengers and freight. As cities are growing in population and size, the demand for urban transportation is increasing many folds. Moreover, owing to inadequate public transportation, private vehicles are growing rapidly thus adding to the traffic congestion issues. Furthermore, the traditional approach of resolving traffic congestion issue by increasing capacity of the road network is not suitable anymore, owing to new commercial and residential developments established roadsides.
In addition, due to the increase in the price of construction materials, it has become very expensive for cities to increase the capacity of the existing road network. Consequently, many cities across the world have reached a stage where adding new lanes to the road is not possible due to unavailability of land. Thus, the only growth management plan for controlling such serious issues seems to be urban transport systems that is expected to reduce the cost of transport and upgrade the quality of life across cities.
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Traffic congestion owing to ever-growing population and scarcity of land is the driving factor for the urban transport systems market. Traffic congestion not only adds to air and sound pollution but imposes considerable cost in terms of health and productivity. Also, it increases the probability of accidents which may lead to human and property damage. Therefore, government across the world have started taking serious actions for the execution of urban transport systems projects. This is expected to be a major driving factor for the urban transport systems market.
Threat affecting the urban transport systems market is the high cost associated to it. Since planning, operating, financing and maintenance of an urban transport system needs significant investment, it poses a multi-dimensional challenge for the government or regulatory bodies worldwide. However, with growing urban population and resulting traffic congestion, government is generating several financial modes such as levy of cess, use of FSIs and TDRs, and inclusion of income generating assets to generate revenue for urban transport systems successfully.
New opportunities that are expected to signal growth to the urban transport systems market include the increasing demand from metropolitan cities across the world. Metropolitan cities are center of diverse activities and are densely populated. They are an attractive choice in terms of living, working and housing. Owing to this, they suffer from limited space availability, traffic congestion, inadequate parking spaces and noise and air pollution. Therefore, high capacity modes that offer greater mobility for the growing population are increasingly essential for their efficient accessibility and economic development. As a result, government is taking up execution of urban transport systems, on a priority basis in metropolitan cities worldwide.
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