Dublin, July 16, 2021 (GLOBE NEWSWIRE) -- The "Transit And Ground Passenger Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global transit and ground passenger transport market is expected to grow from $412.97 billion in 2020 to $460.48 billion in 2021 at a compound annual growth rate (CAGR) of 11.5%.
Transit and Ground Passenger Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the 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.
Major companies in the transit and ground passenger transport market include Transport For London; Metropolitan Transportation Authority; MTR Corporation; Guangzhou Metro and Madrid Metro.
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 $634.99 billion in 2025 at a CAGR of 8%.
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 transit and ground passenger transport market is segmented into 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.
Western Europe was the largest region in the global transit and ground passenger transport market, accounting for 39% of the market in 2020. Asia Pacific was the second largest region accounting for 29% of the global transit and ground passenger transport market. Africa was the smallest region in the global transit and ground passenger transport market.
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 fuel efficiency of the vehicle and increases the life of lithium batteries. Further, the technology has low maintenance components allowing the companies to save cost.
The outbreak of coronavirus disease (COVID-19) has acted as a massive restraint on the transit and ground passenger transportation services 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.
However, it is expected that the transit and ground passenger transportation services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
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.
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, 2020, By Region, Value ($ Billion)
10.2. Global Transit And Ground Passenger Transport Market, 2015-2020, 2020-2025F, 2030F, 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, 2015-2020, 2020-2025F, 2030F, $ 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
12. Transit And Ground Passenger Transport Market Segments
12.1. Global Commuter Rail And Public Bus Services Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Commuter Rail Services (Metro And MMTS); Public Bus Services
12.2. Global Taxi And Limousine Services Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Online Taxi Services; Tele And Offline Taxi Services; Limousine Services
12.3. Global School And Employee Bus Services Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Students Bus Services; Employee Bus Services
12.4. Global Charter Bus Services Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
12.5. Global Other Transit And Ground Passenger Transport Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
13. Transit And Ground Passenger Transport Market Metrics
13.1. Transit And Ground Passenger Transport Market Size, Percentage Of GDP, 2015-2025, Global
13.2. Per Capita Average Transit And Ground Passenger Transport Market Expenditure, 2015-2025, Global
Companies Mentioned
- Transport For London
- Metropolitan Transportation Authority
- MTR Corporation
- Guangzhou Metro
- Madrid Metro
For more information about this report visit https://www.researchandmarkets.com/r/ap8q3z