The “Commuter Rail And Public Bus Services Global Market Report 2022: By Distance, By Application” has emerged as a pivotal analysis, providing vital insights for strategists, marketers, and senior management seeking to comprehend the dynamics of the global commuter rail and public bus services market. Amid the COVID-19 shutdown, this comprehensive report, now available on ResearchAndMarkets.com, illuminates critical trends and growth projections for the market.
Market Growth and Forecasts
In 2021, the global commuter rail and public bus services market reached $323.8 billion and is projected to surge to $360.3 billion in 2022, marking a notable Compound Annual Growth Rate (CAGR) of 11.3%. Looking ahead, the market is anticipated to expand even further, reaching $530.79 billion in 2026 at a CAGR of 10.2%. This expected growth is indicative of a robust resurgence and a promising outlook for the industry.
Noteworthy Companies in the Market
The report highlights key players in the market, including Metropolitan Transportation Authority, Transport International Holdings Limited, Transport for London (TFL), Deutsche Bahn AG, FirstGroup plc., MTR Corp Ltd., ComfortDelGro Corporation, Stagecoach Group plc., Guangzhou Metro, and Kyushu Railway Company.
Factors Driving Market Growth
One of the prime catalysts for the anticipated growth is the stable economic trajectory forecasted in both developed and developing countries. The International Monetary Fund (IMF) projects a 3.3% global GDP growth in 2020 and a further 3.4% in 2021, indicating a promising economic environment. Furthermore, recovering commodity prices and continued growth in emerging markets are poised to drive investments in end-user markets, thus fostering market expansion during the forecast period.
COVID-19 Impact and Recovery
Undoubtedly, the outbreak of the COVID-19 pandemic significantly hampered the commuter rail and public bus services market, as lockdowns imposed by various governments worldwide limited the movement of people and goods. However, with the gradual relaxation of restrictions, the market is expected to regain momentum, signaling a resilient recovery from the pandemic-induced shock.
Embracing Sustainability: The Rise of Hybrid Buses
In a bid to curb carbon emissions and foster sustainable operations, many bus service providers have begun integrating hybrid buses into their fleets. These buses, powered by alternate fuels or a combination of fuels and electricity, offer a promising solution to reduce environmental impact. Notably, research conducted by the Environmental and Energy Study Institute reveals that hybrid buses can yield approximately 40% better fuel economy than standard diesel coaches and a striking 90% improvement over compressed natural gas buses. Key players in the hybrid bus manufacturing landscape include Arriva Bus, Stagecoach, Volvo Buses, Allison Transmission, and Jinlong.
As the global commuter rail and public bus services market strides toward recovery post the COVID-19 turmoil, it becomes increasingly crucial for stakeholders to leverage the comprehensive insights provided in this report. With its in-depth analysis and meticulous market forecasts, this report serves as an indispensable tool for informed decision-making, strategic planning, and identifying lucrative investment opportunities in the rapidly evolving transportation landscape.