Industry: Automobile & Transportation
Published Date: 2026-02-13
Pages: 173 Pages
Report ld: 5990655
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Low-floor Tram Market Size(US$)

CAGR 2026-2032
4.8%
Market Size,2032
USD 5,847
Million
Market Snapshot
Source: Secondary research, interviews with experts, and QYResearch analysis
The global Low-floor Tram market is projected to grow from US$ 4056 million in 2025 to US$ 5847 million by 2032, at a CAGR of 4.8% (2026-2032), driven by critical product segments and diverse end‑use applications, while evolving U.S. tariff policies introduce trade‑cost volatility and supply‑chain uncertainty.
A low-floor tram is a type of tram vehicle designed with a floor height close to platform or street level, allowing passengers to board and alight without steps, which significantly improves accessibility for elderly people, wheelchair users, and passengers with strollers or luggage. Low-floor trams use advanced bogie and traction system designs to place equipment under the roof or within compact modules, enabling barrier-free access, faster passenger flow, and enhanced comfort, making them the dominant vehicle type in modern urban tram systems. In 2025, global Low-floor Tram production reached approximately 1556 units, with an average global market price of around US$2.61 million usd per unit.The production capacity for Low-floor Tram in 2025 was approximately 1700 units. The typical gross profit margin for Low-floor Tram is between 20% and 40%.
The Low-floor Tram market is driven by growing urbanization, accessibility regulations, and the demand for passenger-friendly public transport systems, as cities increasingly adopt low-floor trams to improve boarding efficiency and inclusivity for elderly, disabled, and mobility-impaired passengers. Low-floor trams feature step-free access and reduced platform height, enabling faster passenger flow, shorter dwell times, and better integration with urban streets. Europe remains the most mature and largest market, followed by Asia-Pacific and the Middle East, while key industry trends include battery-powered and catenary-free operation, lightweight materials, modular vehicle platforms, and digital control systems.
This definitive report equips business leaders, decision-makers, and stakeholders with a 360° view of the global Low-floor Tram market, seamlessly integrating production capacity and sales performance across the value chain. It analyzes historical production, revenue, and sales data (2021–2025) and delivers forecasts through 2032, illuminating demand trends and growth drivers.
By segmenting the market by Type and by Application, the study quantifies volume and value, growth rates, technical innovations, niche opportunities, and substitution risks, and analyzes downstream customers distribution pattern.
Granular regional insights cover five major markets (North America, Europe, APAC, South America, and MEA) with in‑depth analysis of 20+ countries. Each region’s dominant products, competitive landscape, and downstream demand trends are clearly detailed.
Critical competitive intelligence profiles manufacturers (capacity, sales volume, revenue, margins, pricing strategies, and major customers) and dissects the top-player positioning across product lines, applications, and regions to reveal strategic strengths.
A concise supply‑chain overview maps upstream suppliers, manufacturing technologies, cost structures, and distribution dynamics to identify strategic gaps and unmet demand.
MARKET SEGMENTATION
CHAPTER OUTLINE
Chapter 1: Defines the Low-floor Tram study scope, segments the market by Type and by Application, etc, highlights segment size and growth potential
Chapter 2: Offers current market state, projects global revenue, sales, and production to 2032, pinpointing high consumption regions and emerging market catalysts
Chapter 3: Dissects the manufacturer landscape: ranks by volume and revenue, analyzes profitability and pricing, maps production bases, details manufacturer performance by product type and evaluates concentration alongside M&A moves
Chapter 4: Unlocks high margin product segments: compares sales, revenue, ASP, and technology differentiators, highlighting growth niches and substitution risks
Chapter 5: Targets downstream market opportunities: evaluates sales, revenue, and pricing by Application, identifies emerging use cases, and profiles leading customers by region and by Application
Chapter 6: Maps global production capacity, utilization, and market share (2021–2032), identifies efficient hubs, reveals regulatory/trade policy impacts and bottlenecks
Chapter 7: North America: breaks down sales and revenue by Application and country, profiles key manufacturers and assesses growth drivers and barriers
Chapter 8: Europe: analyses regional sales, revenue and market by Application and manufacturers, flagging drivers and barriers
Chapter 9: Asia Pacific: quantifies sales and revenue by Application, and region/country, profiles top manufacturers, and uncovers high potential expansion areas
Chapter 10: Central & South America: measures sales and revenue by Application, and country, profiles top manufacturers, and identifies investment opportunities and challenges
Chapter 11: Middle East and Africa: evaluates sales and revenue by Application, and country, profiles key manufacturers, and outlines investment prospects and market hurdles
Chapter 12: Profiles manufacturers in depth: details product specs, capacity, sales, revenue, margins; top manufactures 2025 sales breakdowns by product type, by Application, by sales region SWOT analysis, and recent strategic developments
Chapter 13: Supply chain: analyses upstream raw materials and suppliers, manufacturing footprint and technology, cost drivers, plus downstream channels and distributor roles
Chapter 14: Market dynamics: explores drivers, restraints, regulatory impacts, and risk mitigation strategies
Chapter 15: Actionable conclusions and strategic recommendations.
WHY THIS REPORT
Beyond standard market data, this analysis provides a clear profitability roadmap, empowering you to:
Beyond standard market data, this analysis provides a clear profitability roadmap, empowering you to:
Allocate capital strategically to high growth regions (Chapters 7-11) and margin rich segments (Chapter 5).
Negotiate from strength with suppliers (Chapter 13) and customers (Chapter 6) using cost and demand intelligence.
Outmaneuver competitors with granular insights into their operations, margins, and strategies (Chapters 4 and 12).
Secure your supply chain against disruptions through upstream and downstream visibility (Chapters 13 and 14).
Leverage this 360° intelligence to turn market complexity into actionable competitive advantage.
QYRESEARCH'S STRENGTHS
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Compound Chocolate value chain, addressing:
We identify regional market threats and growth prospects to guide your overseas layout.
We adjust product portfolios in line with local consumption habits.
We unpack rivals’ operation strategies for scattered and highly concentrated industries.
We cover competition landscape, full supply chain and quantified market size data, and deliver tailor-made customized surveys to meet your unique business demands.
We own self-owned massive exclusive databases, backed by 19 years of global market research experience across thousands of sectors.
Our team operates 24 hours a day, 365 days a year, enabling ultra-fast report turnaround to respond to your research needs efficiently.
We integrate regional risk assessment, localized product optimization and competitor analysis to deliver actionable market strategies.
All data is cross-verified from multiple industry sources to deliver thorough, precise analysis that supports reliable corporate strategic decisions.
We provide responsive, dedicated after-sales support to resolve all follow-up inquiries about reports, data and industry interpretation.
TABLE OF CONTENTS
1 Study Coverage
1.1 Introduction to Low-floor Tram: Definition, Properties, and Key Attributes
1.2 Market Segmentation by Type
1.2.1 Global Low-floor Tram Market Size by Type, 2021 vs 2025 vs 2032
1.2.2 Overhead Catenary Power Supply
1.2.3 Ground-level Power Supply
1.2.4 Energy Storage Power Supply
1.3 Market Segmentation by Vehicle Structure
1.3.1 Global Low-floor Tram Market Size by Vehicle Structure, 2021 vs 2025 vs 2032
1.3.2 Single-unit Tram
1.3.3 Articulated Tram
1.4 Market Segmentation by Vehicle Floor Height
1.4.1 Global Low-floor Tram Market Size by Vehicle Floor Height, 2021 vs 2025 vs 2032
1.4.2 Partially Low-floor Tram
1.4.3 Fully Low-floor Tram
1.5 Market Segmentation by Application
1.5.1 Global Low-floor Tram Market Size by Application, 2021 vs 2025 vs 2032
1.5.2 Urban Public Transport
1.5.3 Tourism & Scenic Transport
1.5.4 Airport & Transport Hub Shuttle
1.5.5 Others
1.6 Assumptions and Limitations
1.7 Study Objectives
1.8 Years Considered
2 Executive Summary
2.1 Global Low-floor Tram Revenue Estimates and Forecasts (2021-2032)
2.2 Global Low-floor Tram Revenue by Region
2.2.1 Revenue Comparison: 2021 vs 2025 vs 2032
2.2.2 Global Revenue-Based Market Share by Region (2021-2032)
2.3 Global Low-floor Tram Sales Estimates and Forecasts (2021-2032)
2.4 Global Low-floor Tram Sales by Region
2.4.1 Sales Comparison: 2021 vs 2025 vs 2032
2.4.2 Global Sales Market Share by Region (2021-2032)
2.4.3 Emerging Market Focus: Growth Drivers & Investment Trends
2.5 Global Low-floor Tram Production Capacity and Utilization (2021 vs 2025 vs 2032)
2.6 Production Comparison by Region: 2021 vs 2025 vs 2032
3 Competitive Landscape
3.1 Global Low-floor Tram Sales by Manufacturers
3.1.1 Global Sales Volume by Manufacturers (2021-2026)
3.1.2 Global Top 5 and Top 10 Manufacturers’Market Share by Sales Volume (2025)
3.2 Global Low-floor Tram Manufacturer Revenue Rankings and Tiers
3.2.1 Global Revenue (Value) by Manufacturers (2021-2026)
3.2.2 Global Key Manufacturer Revenue Ranking (2024 vs. 2025)
3.2.3 Revenue-Based Tier Segmentation (Tier 1, Tier 2, and Tier 3)
3.3 Manufacturer Profitability Profiles and Pricing Strategies
3.3.1 Gross Margin by Top Manufacturer (2021 vs. 2025)
3.3.2 Manufacturer-Level Price Trends (2021-2026)
3.4 Key Manufacturers Manufacturing Base and Headquarters
3.5 Key Manufacturers Market Share by Product Type
3.5.1 Overhead Catenary Power Supply: Market Share by Key Manufacturers
3.5.2 Ground-level Power Supply: Market Share by Key Manufacturers
3.5.3 Energy Storage Power Supply: Market Share by Key Manufacturers
3.6 Global Low-floor Tram Market Concentration and Dynamics
3.6.1 Global Market Concentration
3.6.2 Market Entry and Exit Analysis
3.6.3 Strategic Moves: M&A, Capacity Expansion, R&D Investment
4 Product Segmentation
4.1 Global Low-floor Tram Sales Performance by Type
4.1.1 Global Low-floor Tram Sales Volume by Type (2021-2032)
4.1.2 Global Low-floor Tram Revenue by Type (2021-2032)
4.1.3 Global Average Selling Price (ASP) Trends by Type (2021-2032)
4.2 Global Low-floor Tram Sales Performance by Vehicle Structure
4.2.1 Global Low-floor Tram Sales Volume by Vehicle Structure (2021-2032)
4.2.2 Global Low-floor Tram Revenue by Vehicle Structure (2021-2032)
4.2.3 Global Average Selling Price (ASP) Trends by Vehicle Structure (2021-2032)
4.3 Global Low-floor Tram Sales Performance by Vehicle Floor Height
4.3.1 Global Low-floor Tram Sales Volume by Vehicle Floor Height (2021-2032)
4.3.2 Global Low-floor Tram Revenue by Vehicle Floor Height (2021-2032)
4.3.3 Global Average Selling Price (ASP) Trends by Vehicle Floor Height (2021-2032)
4.4 Product Technology Differentiation
4.5 Subtype Dynamics: Growth Leaders, Profitability and Risk
4.5.1 High-Growth Niches and Adoption Drivers
4.5.2 Profitability Hotspots and Cost Drivers
4.5.3 Substitution Threats
5 Downstream Applications and Customers
5.1 Global Low-floor Tram Sales by Application
5.1.1 Global Historical and Forecasted Sales by Application (2021-2032)
5.1.2 Global Sales Market Share by Application (2021-2032)
5.1.3 High-Growth Application Identification
5.1.4 Emerging Application Case Studies
5.2 Global Low-floor Tram Revenue by Application
5.2.1 Global Historical and Forecasted Revenue by Application (2021-2032)
5.2.2 Revenue-Based Market Share by Application (2021-2032)
5.3 Global Pricing Dynamics by Application (2021-2032)
5.4 Downstream Customer Analysis
5.4.1 Top Customers by Region
5.4.2 Top Customers by Application
6 Global Production Analysis
6.1 Global Low-floor Tram Production Capacity and Utilization Rates (2021–2032)
6.2 Regional Production Dynamics and Outlook
6.2.1 Historic Production by Region (2021-2026)
6.2.2 Forecasted Production by Region (2027-2032)
6.2.3 Production Market Share by Region (2021-2032)
6.2.4 Regulatory and Trade Policy Impact on Production
6.2.5 Production Capacity Enablers and Constraints
6.3 Key Regional Production Hubs
6.3.1 North America
6.3.2 Europe
6.3.3 China
6.3.4 Japan
7 North America
7.1 North America Sales Volume and Revenue (2021-2032)
7.2 North America Key Manufacturers Sales Revenue in 2025
7.3 North America Low-floor Tram Sales and Revenue by Application (2021-2032)
7.4 North America Growth Accelerators and Market Barriers
7.5 North America Low-floor Tram Market Size by Country
7.5.1 North America Revenue by Country
7.5.2 North America Sales Trends by Country
7.5.3 US
7.5.4 Canada
7.5.5 Mexico
8 Europe
8.1 Europe Sales Volume and Revenue (2021-2032)
8.2 Europe Key Manufacturers Sales Revenue in 2025
8.3 Europe Low-floor Tram Sales and Revenue by Application (2021-2032)
8.4 Europe Growth Accelerators and Market Barriers
8.5 Europe Low-floor Tram Market Size by Country
8.5.1 Europe Revenue by Country
8.5.2 Europe Sales Trends by Country
8.5.3 Germany
8.5.4 France
8.5.5 U.K.
8.5.6 Italy
8.5.7 Russia
9 Asia-Pacific
9.1 Asia-Pacific Sales Volume and Revenue (2021-2032)
9.2 Asia-Pacific Key Manufacturers Sales Revenue in 2025
9.3 Asia-Pacific Low-floor Tram Sales and Revenue by Application (2021-2032)
9.4 Asia-Pacific Low-floor Tram Market Size by Region
9.4.1 Asia-Pacific Revenue by Region
9.4.2 Asia-Pacific Sales Trends by Region
9.5 Asia-Pacific Growth Accelerators and Market Barriers
9.6 Southeast Asia
9.6.1 Southeast Asia Revenue by Country (2021 vs 2025 vs 2032)
9.6.2 Key Country Analysis: Indonesia, Vietnam, Thailand
9.7 China
9.8 Japan
9.9 South Korea
9.10 China Taiwan
9.11 India
10 Central and South America
10.1 Central and South America Sales Volume and Revenue (2021-2032)
10.2 Central and South America Key Manufacturers Sales Revenue in 2025
10.3 Central and South America Low-floor Tram Sales and Revenue by Application (2021-2032)
10.4 Central and South America Investment Opportunities and Key Challenges
10.5 Central and South America Low-floor Tram Market Size by Country
10.5.1 Central and South America Revenue Trends by Country (2021 vs 2025 vs 2032)
10.5.2 Brazil
10.5.3 Argentina
11 Middle East and Africa
11.1 Middle East and Africa Sales Volume and Revenue (2021-2032)
11.2 Middle East and Africa Key Manufacturers Sales Revenue in 2025
11.3 Middle East and Africa Low-floor Tram Sales and Revenue by Application (2021-2032)
11.4 Middle East and Africa Investment Opportunities and Key Challenges
11.5 Middle East and Africa Low-floor Tram Market Size by Country
11.5.1 Middle East and Africa Revenue Trends by Country (2021 vs 2025 vs 2032)
11.5.2 GCC Countries
11.5.3 Turkey
11.5.4 Egypt
11.5.5 South Africa
12 Corporate Profile
12.1 Alstom
12.1.1 Alstom Corporation Information
12.1.2 Alstom Business Overview
12.1.3 Alstom Low-floor Tram Product Models, Descriptions and Specifications
12.1.4 Alstom Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.1.5 Alstom Low-floor Tram Sales by Product in 2025
12.1.6 Alstom Low-floor Tram Sales by Application in 2025
12.1.7 Alstom Low-floor Tram Sales by Geographic Area in 2025
12.1.8 Alstom Low-floor Tram SWOT Analysis
12.1.9 Alstom Recent Developments
12.2 Stadler Rail
12.2.1 Stadler Rail Corporation Information
12.2.2 Stadler Rail Business Overview
12.2.3 Stadler Rail Low-floor Tram Product Models, Descriptions and Specifications
12.2.4 Stadler Rail Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.2.5 Stadler Rail Low-floor Tram Sales by Product in 2025
12.2.6 Stadler Rail Low-floor Tram Sales by Application in 2025
12.2.7 Stadler Rail Low-floor Tram Sales by Geographic Area in 2025
12.2.8 Stadler Rail Low-floor Tram SWOT Analysis
12.2.9 Stadler Rail Recent Developments
12.3 Siemens
12.3.1 Siemens Corporation Information
12.3.2 Siemens Business Overview
12.3.3 Siemens Low-floor Tram Product Models, Descriptions and Specifications
12.3.4 Siemens Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.3.5 Siemens Low-floor Tram Sales by Product in 2025
12.3.6 Siemens Low-floor Tram Sales by Application in 2025
12.3.7 Siemens Low-floor Tram Sales by Geographic Area in 2025
12.3.8 Siemens Low-floor Tram SWOT Analysis
12.3.9 Siemens Recent Developments
12.4 CAF Mobility
12.4.1 CAF Mobility Corporation Information
12.4.2 CAF Mobility Business Overview
12.4.3 CAF Mobility Low-floor Tram Product Models, Descriptions and Specifications
12.4.4 CAF Mobility Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.4.5 CAF Mobility Low-floor Tram Sales by Product in 2025
12.4.6 CAF Mobility Low-floor Tram Sales by Application in 2025
12.4.7 CAF Mobility Low-floor Tram Sales by Geographic Area in 2025
12.4.8 CAF Mobility Low-floor Tram SWOT Analysis
12.4.9 CAF Mobility Recent Developments
12.5 Škoda Group
12.5.1 Škoda Group Corporation Information
12.5.2 Škoda Group Business Overview
12.5.3 Škoda Group Low-floor Tram Product Models, Descriptions and Specifications
12.5.4 Škoda Group Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.5.5 Škoda Group Low-floor Tram Sales by Product in 2025
12.5.6 Škoda Group Low-floor Tram Sales by Application in 2025
12.5.7 Škoda Group Low-floor Tram Sales by Geographic Area in 2025
12.5.8 Škoda Group Low-floor Tram SWOT Analysis
12.5.9 Škoda Group Recent Developments
12.6 Pesa
12.6.1 Pesa Corporation Information
12.6.2 Pesa Business Overview
12.6.3 Pesa Low-floor Tram Product Models, Descriptions and Specifications
12.6.4 Pesa Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.6.5 Pesa Recent Developments
12.7 CRRC Corporation
12.7.1 CRRC Corporation Corporation Information
12.7.2 CRRC Corporation Business Overview
12.7.3 CRRC Corporation Low-floor Tram Product Models, Descriptions and Specifications
12.7.4 CRRC Corporation Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.7.5 CRRC Corporation Recent Developments
12.8 Hitachi Rail
12.8.1 Hitachi Rail Corporation Information
12.8.2 Hitachi Rail Business Overview
12.8.3 Hitachi Rail Low-floor Tram Product Models, Descriptions and Specifications
12.8.4 Hitachi Rail Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.8.5 Hitachi Rail Recent Developments
12.9 Bozankaya
12.9.1 Bozankaya Corporation Information
12.9.2 Bozankaya Business Overview
12.9.3 Bozankaya Low-floor Tram Product Models, Descriptions and Specifications
12.9.4 Bozankaya Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.9.5 Bozankaya Recent Developments
12.10 Durmazlar
12.10.1 Durmazlar Corporation Information
12.10.2 Durmazlar Business Overview
12.10.3 Durmazlar Low-floor Tram Product Models, Descriptions and Specifications
12.10.4 Durmazlar Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.10.5 Durmazlar Recent Developments
12.11 Astra Vagoane Calatori
12.11.1 Astra Vagoane Calatori Corporation Information
12.11.2 Astra Vagoane Calatori Business Overview
12.11.3 Astra Vagoane Calatori Low-floor Tram Product Models, Descriptions and Specifications
12.11.4 Astra Vagoane Calatori Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.11.5 Astra Vagoane Calatori Recent Developments
12.12 Modertrans
12.12.1 Modertrans Corporation Information
12.12.2 Modertrans Business Overview
12.12.3 Modertrans Low-floor Tram Product Models, Descriptions and Specifications
12.12.4 Modertrans Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.12.5 Modertrans Recent Developments
12.13 TATRA-YUG
12.13.1 TATRA-YUG Corporation Information
12.13.2 TATRA-YUG Business Overview
12.13.3 TATRA-YUG Low-floor Tram Product Models, Descriptions and Specifications
12.13.4 TATRA-YUG Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.13.5 TATRA-YUG Recent Developments
12.14 UKCP
12.14.1 UKCP Corporation Information
12.14.2 UKCP Business Overview
12.14.3 UKCP Low-floor Tram Product Models, Descriptions and Specifications
12.14.4 UKCP Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.14.5 UKCP Recent Developments
12.15 PC Transport Systems
12.15.1 PC Transport Systems Corporation Information
12.15.2 PC Transport Systems Business Overview
12.15.3 PC Transport Systems Low-floor Tram Product Models, Descriptions and Specifications
12.15.4 PC Transport Systems Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.15.5 PC Transport Systems Recent Developments
12.16 BKM HOLDING
12.16.1 BKM HOLDING Corporation Information
12.16.2 BKM HOLDING Business Overview
12.16.3 BKM HOLDING Low-floor Tram Product Models, Descriptions and Specifications
12.16.4 BKM HOLDING Low-floor Tram Capacity, Sales, Price, Revenue and Gross Margin (2021-2026)
12.16.5 BKM HOLDING Recent Developments
13 Value Chain and Supply-Chain Analysis
13.1 Low-floor Tram Industry Chain
13.2 Low-floor Tram Upstream Materials Analysis
13.2.1 Raw Materials
13.2.2 Key Suppliers Market Share & Risk Assessment
13.3 Low-floor Tram Integrated Production Analysis
13.3.1 Manufacturing Footprint Analysis
13.3.2 Production Technology Overview
13.3.3 Regional Cost Drivers
13.4 Low-floor Tram Sales Channels and Distribution Networks
13.4.1 Sales Channels
13.4.2 Distributors
14 Low-floor Tram Market Dynamics
14.1 Industry Trends and Evolution
14.2 Market Growth Drivers and Emerging Opportunities
14.3 Market Challenges, Risks, and Restraints
14.4 Impact of U.S. Tariffs
15 Key Findings in the Global Low-floor Tram Study
16 Appendix
16.1 Research Methodology
16.1.1 Methodology/Research Approach
16.1.1.1 Research Programs/Design
16.1.1.2 Market Size Estimation
16.1.1.3 Market Breakdown and Data Triangulation
16.1.2 Data Source
16.1.2.1 Secondary Sources
16.1.2.2 Primary Sources
16.2 Author Details
TABLE OF FIGURES
List of Tables
List of Figures
KEY QUESTIONS ADDRESSED BY THE REPORT
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REPORT COVERAGE
DESCRIPTION
OVERVIEW
MARKET SEGMENTATION
CHAPTER OUTLINE
WHY THIS REPORT
QYRESEARCH'S STRENGTHS
TABLE OF CONTENTS
TABLE OF FIGURES
RLEATED REPORTS
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