19 Apr, 2021, 09:15 ET
DUBLIN, April 19, 2021 /PRNewswire/ -- The "Passenger Rail Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
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 $307.39 billion in 2025 at a CAGR of 6%.
The passenger rail transport market consists of sales of passenger rail transportation services and related goods by entities (organizations, sole traders and partnerships) that use trains to provide transport for passengers from a station where they board the train to a destination station. The passenger rail transport market is segmented into short-distance passenger transport; medium-distance passenger transport and long-distance passenger transport.
Asia Pacific was the largest region in the global passenger rail transport market, accounting for 42% of the market in 2020. Western Europe was the second largest region accounting for 37% of the global passenger rail transport market. Africa was the smallest region in the global passenger rail transport market.
Advanced driver assistance system (ADAS) technology is becoming popular in rail transportation industry to optimize energy usage, enhance operational management, safety and aid in cost reduction. These systems provide automatic warning, protection, operation, supervision, and control arrangement. They also aid in meeting stringent government regulations towards passenger safety. Around 60 million units of advanced driver assistance systems were produced globally. Some companies providing these systems for locomotives are Thales Group, Alstom S.A., Bombardier Transportation Hitachi Ltd., CRRC Corporation limited, Ansaldo STS, and SIEMENS AG .
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider passenger rail transport market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The passenger rail transport market section of the report gives context. It compares the passenger rail transport market with other segments of the rail transport market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, passenger rail transport indicators comparison.
- East Japan Railway
- MTR Hong Kong
- Central Japan Railway
- West Japan Railway
- Canadian Pacific Railway
For more information about this report visit https://www.researchandmarkets.com/r/3nq3s5
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