DUBLIN–(BUSINESS WIRE)–The “Commuter Rail And Public Bus Services Global Market Report 2022: By Distance, By Application” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global commuter rail and public bus services market as it emerges from the COVID-19 shut down.
The global commuter rail and public bus services market is expected to grow from $323.8 billion in 2021 to $360.3 billion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The market is expected to grow to $530.79 billion in 2026 at a compound annual growth rate (CAGR) of 10.2%.
- Metropolitan Transportation Authority
- Transport International Holdings Limited
- Transport for London (TFL)
- Duetsche Bahn AG
- FirstGroup plc.
- MTR Corp ltd.
- ComfortDelGro Corporation
- Stagecoach Group plc.
- Guangzhou Metro
- Kyushu Railway Company
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The commuter rail and public bus services market consists of sales of commuter rail and public bus services and related goods by entities (organizations, sole traders, and partnerships) that operate local and suburban ground passenger transit systems using more than one mode of transport over regular routes and on regular schedules within a metropolitan area and its adjacent nonurban areas. Commuter rail is usually characterized by reduced fares, multiple rides, and commutation tickets, and is mostly used by passengers during the morning and evening peak periods.
The main types in the commuter rail and public bus services market are commuter rail services (metro and mmts) and public bus services. Commuter rail services are usually characterized by reduced fares, multiple ride and commutation tickets, and are mostly used by passengers during the morning and evening peak periods. The market is also segmented by distance into long-distance and short-distance and by application into adults and children.
Western Europe was the largest region in the commuter rail and public bus services market in 2021. Asia Pacific was the second largest region in the commuter rail and public bus services market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The commuter rail and public bus services market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in end-user markets, thereby driving the market during the forecast period.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the commuter rail and public bus services market in 2020 as governments-imposed lockdowns restricted the movement of people and goods to contain the transmission. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of ‘lock down’ and the outbreak harmed the businesses throughout 2020 and 2021. However, it is expected that the commuter rail and public bus services market will recover from the shock.
Many bus service providers are introducing hybrid buses to reduce carbon emissions. Buses are generally powered using diesel which releases CO2 emissions to the environment. On the contrary, hybrid buses utilize alternate fuel and do not require heavy investment like electric buses.
A hybrid bus is powered by two alternate fuels or fuel combined with electricity, diesel-natural gas, or diesel-electric. In addition to that, these buses offer a quieter experience and reduced maintenance costs. According to research by the Environmental and Energy Study Institute, hybrid busses offered about 40% improvement in fuel economy in comparison to standard diesel coach and nearly 90% improvement over compressed natural gas buses. Major companies involved in the manufacturing of hybrid buses are Arriva Bus, Stagecoach, Volvo Buses, Allison Transmission, and Jinlong.
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