The Business Research Company’s Rail Transport Market 2022 – Opportunities And Strategies – Global Forecast To 2030
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As per The Business Research Company’s “Passenger Rail Transport Global Market Report 2022”, the passenger rail transport market share is predicted to reach a value of $221.1 billion in 2020, having increased at a compound annual growth rate (CAGR) of 0.5% since 2015. The market is expected to grow from $221.1 billion in 2020 to $307.4 billion in 2025 at a CAGR of 6.8%. The passenger rail transport market is then expected to grow at a CAGR of 4.7% from 2025 and reach $386.0 billion in 2030. Technology is expected to be a continued driver of the passenger rail transport services market growth during forecast period.
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Key Trends In The Passenger Rail Transport Market
Public and private railway companies across the world are moving towards energy efficient power supply systems such as a head on generation (HOG) systems rather than an end on generation (EOG) systems for their trains. The HOG power supply system provides multiple benefits to the railway company such as reduced noise pollution and economical power generation through eliminated diesel consumption. These benefits further result in improvements in revenue and lower operational costs due to decreased maintenance requirements. The HOG system also enables increase in coach capacity, as the traditional EOG system requires a minimum of two generator cars to supply power. Railway companies are recognizing the benefits of this technology and are making efforts to explore the sustainable power supply system. For instance, in 2019, the Indian Railway converted nearly 5,000 coaches to operate on HOG, leading to generation of nearly 400,000 additional berths. The coaches are eco-friendly and will contribute to reduction of carbon emissions by 700 MT per year per train.
Overview Of The Passenger Rail Transport Market
The passenger rail transport market consists of sales of passenger rail transportation services and related goods by entities (organizations, sole traders and partnerships) that transport people from one location to another for an amount or fee. The passenger rail transportation services industry includes establishments that provide services to move people using trains.
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Passenger Rail Transport Global Market Report 2022 from TBRC covers the following information:
Market Size Data
Forecast period: Historical and Future
By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Passenger Rail Transport Market Segmentation
By Type: Medium-Distance Passenger Transport, Long-Distance Passenger Transport, Short-Distance Passenger Transport
By Service Type: Transportation, Services Allied to Transportation (Maintenance of Railcars and Rail Tracks, Switching of Cargo, and Storage)
By Application: City, Rural
By Geography: The passenger rail transport global market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific holds the largest share in the market.
Major market players such as China Railway Corporation, Central Japan Railway Co, Duetsche Bahn AG, East Japan Railway Co, Ferrovie dello Stato Italiane SpA, Indian Railways
Trends, Opportunities, Strategies And So Much More.
Passenger Rail Transport Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides passenger rail transport global market outlook and an overview of passenger rail transport market. The market report analyzes passenger rail transport market size, passenger rail transport global market growth drivers, passenger rail transport market segments, passenger rail transport global market major players, passenger rail transport global market growth across geographies, and passenger rail transport market competitors’ revenues and market positioning. The passenger rail transport market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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