The Business Research Company’s Passenger Rail Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, July 8, 2021 /EINPresswire.com/ — 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.
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.
Read More On The Global Passenger Rail Transport Market Report:
The global passenger rail transport market size 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%.
Asia Pacific is the largest region in the global passenger rail transport market, accounting for 42% of the market in 2020. Western Europe is the second largest region, accounting for 37% of the global passenger rail transport market. Africa has the smallest passenger rail transport market share.
The major players covered in the global passenger rail transport industry are East Japan Railway, MTR Hong Kong, Central Japan Railway, West Japan Railway, Canadian Pacific Railway.
The global passenger rail transport market is segmented by type into medium-distance passenger transport, long-distance passenger transport, short-distance passenger transport.
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 overview, forecast passenger rail transport global market size and growth for the whole market, passenger rail transport global market segments, and geographies, passenger rail transport global market trends, passenger rail transport global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
Request For A Sample Of The Global Passenger Rail Transport Market Report:
Here Is A List Of Similar Reports By The Business Research Company:
Rail Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Commuter Rail And Public Bus Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Transit And Ground Passenger Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Interested to know more about The Business Research Company?
Read more about us at https://www.thebusinessresearchcompany.com/about-the-business-research-company.aspx
The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research. It has over 200 research professionals at its offices in India, the UK and the US, as well a network of trained researchers globally. It has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services and technology.
Call us now for personal assistance with your purchase:
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293