Global Public Transport and Railways Market
Public transport is being considered the backbone of long term urban mobility. The earliest mode of transit was either done by animal rides or stroll or by Sea. Later, with growing need for mobility and advancement in technology several means of conveyance were designed for public hire. The earliest public transport was water transport. On land people walked in groups on pilgrimages. Many years down, the Rail transport was invented that conveyed passengers as well as goods.
The world’s first ever steam-powered engine dates back in 1804.
Public transport has the power to connect urban places for their development. Quality and well-designed transport systems are dynamic, cost effective and are convenient means of transport. City buses, trolley buses, trams or light rails, passenger pullmans, rapid transit such as metro, subways etc. comprehend public transport. There is also inter-city transport system like water-ferries, intercity coach service, intercity rails. For most of the public transport there are fixed routes with set demarcation and pre-set timetable. On-demand share-taxies also run in many parts of the world providing services with fixed transport lines and rates. Paratransit also known as community transport provides door-to-door services for the needy.
Among Asia, North America and Europe the public transport services is varied as in Asia the public transport services is profit driven, privately owned and publically traded for mass transit, while in North America there are authorities to deal mass transit operations. On the other hand, Europe has both state and privately owned mass transport services.
Urban rail transit is across-the-board expression for various types of rail systems like trams, subways, light rail, rapid transit, monorail etc. A rail transport refers to conveyance by wheels on track in contrast to roads. Railways are safe land transport system as compared to other means of conveyance. Railways have larger passenger capacity and cargo utilization, also energy efficient, however, is less flexible and un-lucrative. Railways encourage economic growth while reducing greenhouse gas emissions yet it holds diminishing share. This particular transit is functioned by railway companies to earn profit through freight charges.
Global rail transport market is forecasted to show a rise from USD 468.7 billion in 2020 to 519.3 billion at a compound growth rate (CAGR) of 10%. The growth is prominently due to rail companies repositioning their operations from COVID-19 impact that had led to restrictive containment measures involving social distancing, remote working and closure of businesses. Further, the market is expected to outstretch 658.9 billion in 2025 at CAGR of 6%.
By region Asia Pacific holds a major share in global rail transport market with 42% in market. Western Europe is considered to be the second largest accounting to 21% in global rail transport market.
Global rail transport market aided with stable economic growth is expected to show a gradual growth in many developed and developing countries. The IMF international monetary fund forecasts global GDP rise of 3% in 2021. The outbreak of Coronavirus has had a massive impact on rail transportation market due to government led lockdowns in countries of Europe, North America and Asia. Primitive steps have been taken by respective governments to recover the losses from pandemic and display steady growth.
the major players included in the report:
Bay Area Rapid Transit
Prasarana Malaysia Berhad
Chicago Transit Authority
Keretapi Tanah Melayu Berhad (KTMB)
Segment by Type:
Segment by Application:
Production by Region
Middle East and Africa
1 Public Transport and Railways Introduction and Market Overview
2 Industry Chain Analysis
3 Global Public Transport and Railways Market, by Type
4 Public Transport and Railways Market, by Application
5 Global Public Transport and Railways Consumption, Revenue ($) by Region (2016-2021)
6 Global Public Transport and Railways Production by Top Regions (2016-2021)
7 Global Public Transport and Railways Consumption by Regions (2016-2021)
8 Competitive Landscape
9 Global Public Transport and Railways Market Analysis and Forecast by Type and Application
10 Public Transport and Railways Market Supply and Demand Forecast by Region
11 New Project Feasibility Analysis
12 Expert Interview Record
13 Research Finding and Conclusion
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