The Global Passenger Rail Transport Market Report by The Business Research Company covers passenger rail transport market drivers and restraints, passenger rail transport market size, major players, and the impact of COVID-19 on the passenger rail transport market.
The passenger rail transport market consists of sales of passenger rail transportation services and related goods by entities (organizations, sole traders and partnerships) that use trains to provide transport for passengers from a station where they board the train to a destination station. The passenger rail transport market is segmented into short-distance passenger transport, medium-distance passenger transport and long-distance passenger transport.
Advanced driver assistance system (ADAS) technology is becoming popular in rail transportation industry to optimize energy usage, enhance operational management, safety and aid in cost reduction.
The global passenger rail transport market is expected to grow from $221.18 billion in 2020 to $247.56 billion in 2021 at a compound annual growth rate (CAGR) of 11.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $307.39 billion in 2025 at a CAGR of 6%.
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Some passenger rail transport market trends include advanced driver assistance system (ADAS) technology being used to optimize energy usage, enhance operational management, safety and aid in cost reduction. These systems provide automatic warning, protection, operation, supervision, and control arrangement. They also aid in meeting stringent government regulations towards passenger safety. Around 60 million units of advanced driver assistance systems were produced globally.
Global passenger rail transport market segments include:
1) By Type: Medium-Distance Passenger Transport, Long-Distance Passenger Transport, Short-Distance Passenger Transport.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Passenger Rail Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides passenger rail transport market overviews, analyzes and forecasts market size, share, passenger rail transport market players, passenger rail transport market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The passenger rail transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Passenger Rail Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: East Japan Railway, MTR Hong Kong, Central Japan Railway, West Japan Railway, Canadian Pacific Railway.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Passenger Rail Transport Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Passenger Rail Transport Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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