The Business Research Company’s Passenger Rail Transport Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, July 7, 2021 /EINPresswire.com/ — According to the new market research report ‘Passenger Rail Transport Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, 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 market is expected to reach $307.39 billion in 2025 at a CAGR of 6%. 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.
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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.
Trends In The Global Passenger Rail Transport Market
Advanced driver assistance system (ADAS) technology is becoming popular in the 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.
Global Passenger Rail Transport Market Segments:
The global passenger rail transport market is further segmented based on type and geography.
By Type: Medium-Distance Passenger Transport, Long-Distance Passenger Transport, Short-Distance Passenger Transport
By Geography: The global passenger rail transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global passenger rail transport market, accounting for 42% of the market in 2020.
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Passenger Rail Transport Global Market Report 2021 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 and growth for the global passenger rail transport market, passenger rail transport global market share, passenger rail transport global market players, passenger rail transport global market segments and geographies, passenger rail transport global 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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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
Passenger Rail Transport Market Organizations 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.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets. Here is a list of reports from The Business Research Company similar to the Passenger Rail Transport Global Market Report 2021:
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