Dublin, Aug. 23, 2022 (GLOBE NEWSWIRE) -- The "Transit And Ground Passenger Transport Global Market Report 2022: By Distance, By Destination" 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 transit and ground passenger transport market as it emerges from the COVID-19 shut down.
The global transit and ground passenger transport market is expected to grow from $578.44 billion in 2021 to $638.28 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The market is expected to grow to $911.78 billion in 2026 at a compound annual growth rate (CAGR) of 9.3%.
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Description:
Where is the largest and fastest growing market for transit and ground passenger transport? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Transit And Ground Passenger Transport market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider transit and ground passenger transport market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market
- The market size section gives the market size ($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 transit and ground passenger transport market section of the report gives context. It compares the transit and ground passenger transport market with other segments of the transport services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, transit and ground passenger transport indicators comparison
Major companies in the transit and ground passenger transport market include Uber, Daimler AG, Metropolitan Transportation Authority, Transport International Holdings Limited, Transport for London (TFL), Duetsche Bahn AG, FirstGroup PLC, National Express Group PLC, Lyft, and MTR Corp ltd.
The transit and ground passenger transport market consists of sales of transit and ground passenger transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide a variety of passenger transportation services, such as urban transit systems, chartered buses, school buses, and interurban bus transportation.
The main types in the transit and ground passenger transport market are commuter rail and public bus services, taxi and limousine services, school and employee bus services, charter bus services, and other transit and ground passenger transportation. The school and employee bus services transport students to and from school and employees to and from offices by operating buses and other motor vehicles. The market is segmented by distance into long-distance and short-distance and by destination into domestic and international.
Asia Pacific was the largest region in the transit and ground passenger transport market in 2021. Western Europe was the second largest region in the transit and ground passenger transport market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Faster Economic Growth -The transit and ground passenger transportation 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.
Coronavirus Pandemic - The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the transit and ground passenger transportation market in 2020 as governments-imposed lockdowns and 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 harmed businesses throughout 2020 and into 2021. However, the transit and ground passenger transportation market started recovering from the shock.
Companies are actively pursuing electricity to power buses to reduce carbon emissions and cut costs. Solar buses run on electric batteries which in some cases are also charged by solar panels installed on the roof of the bus. This improves the fuel efficiency of the vehicle and increases the life of lithium batteries. Further, the technology has low maintenance components allowing the companies to save costs. For instance, Shenzhen in China converted its entire fleet of 16,000 buses to run entirely on electricity. This was made possible by making bus parking roofed with solar panels to enable charging facilities. Major companies involved in manufacturing electric buses include Kiira Motors, BYD Company, Heilongjiang Qiqiar Longhua New Energy Automobile Co., Ltd., Bauer's Intelligent Transportation, Yutong, and Volvo buses.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Transit And Ground Passenger Transport Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Transit And Ground Passenger Transport Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Transit And Ground Passenger Transport Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Transit And Ground Passenger Transport Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Transit And Ground Passenger Transport Market Trends And Strategies
8. Impact Of COVID-19 On Transit And Ground Passenger Transport
9. Transit And Ground Passenger Transport Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Transit And Ground Passenger Transport Market Regional Analysis
10.1. Global Transit And Ground Passenger Transport Market, 2021, By Region, Value ($ Billion)
10.2. Global Transit And Ground Passenger Transport Market, 2016-2021, 2021-2026F, 2031F, Historic And Forecast, By Region
10.3. Global Transit And Ground Passenger Transport Market, Growth And Market Share Comparison, By Region
11. Transit And Ground Passenger Transport Market Segmentation
11.1. Global Transit And Ground Passenger Transport Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Commuter Rail And Public Bus Services
- Taxi And Limousine Services
- School And Employee Bus Services
- Charter Bus Services
- Other Transit And Ground Passenger Transport
11.2. Global Transit And Ground Passenger Transport Market, Segmentation By Distance, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Long-Distance
- Short-Distance
11.3. Global Transit And Ground Passenger Transport Market, Segmentation By Destination, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Domestic
- International
12. Transit And Ground Passenger Transport Market Segments
12.1. Global Commuter Rail And Public Bus Services Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Commuter Rail Services (Metro And MMTS); Public Bus Services
12.2. Global Taxi And Limousine Services Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Online Taxi Services; Tele And Offline Taxi Services; Limousine Services
12.3. Global School And Employee Bus Services Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Students Bus Services; Employee Bus Services
12.4. Global Charter Bus Services Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) -
12.5. Global Other Transit And Ground Passenger Transport Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) -
13. Transit And Ground Passenger Transport Market Metrics
13.1. Transit And Ground Passenger Transport Market Size, Percentage Of GDP, 2016-2026, Global
13.2. Per Capita Average Transit And Ground Passenger Transport Market Expenditure, 2016-2026, Global
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