The Commuter Rail And Public Bus Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Commuter Rail And Public Bus Services Global Market Report 2024, The commuter rail and public bus services market size has grown strongly in recent years. It will grow from $401.19 billion in 2023 to $440.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to increased urbanization, traffic congestion, environmental concerns, economic development, fuel price fluctuations, population density.
The commuter rail and public bus services market size is expected to see strong growth in the next few years. It will grow to $628.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to growing urban mobility solutions, electric and sustainable public transit, smart cities initiatives, flexible transit services, fare integration. Major trends in the forecast period include integration of contactless payment systems, real-time passenger information systems, mobility as a service (maas) integration, bus lane priority systems, enhanced accessibility features.
The commuter rail and public bus service markets’ growth is aided by the stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, following a significant decline in the previous period, are expected to further aid 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 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.
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The commuter rail and public bus services market covered in this report is segmented –
1) By Type: Commuter Rail Services (Metro And MMTS), Public Bus Services
2) By Distance: Long-Distance, Short-Distance
3) By Application: Adults, Children
Many bus service providers are introducing hybrid buses to reduce carbon emissions. Buses are generally powered by diesel, which releases CO2 emissions into the environment. On the contrary, hybrid buses utilize alternate fuel and do not require heavy investment like electric buses. A hybrid bus is powered by two alternate fuels or fuel combined with electricity, diesel-natural gas, or diesel-electric. In addition to that, these buses offer a quieter experience and lower maintenance costs. According to research by the Environmental and Energy Study Institute, hybrid buses offer about 40% improvement in fuel economy in comparison to standard diesel coaches and nearly 90% improvement over compressed natural gas buses. Major companies involved in the manufacturing of hybrid buses are Arriva Bus, Stagecoach, Volvo Buses, Allison Transmission, and Jinlong.
The commuter rail and public bus services market report table of contents includes:
1. Executive Summary
2. Commuter Rail And Public Bus Services Market Characteristics
3. Commuter Rail And Public Bus Services Product/Service Analysis -Product/Service Examples
4. Commuter Rail And Public Bus Services Market Trends And Strategies
5. Commuter Rail And Public Bus Services Market – Macro Economic Scenario
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26. Germany Commuter Rail And Public Bus Services Market
27. France Commuter Rail And Public Bus Services Market
28. Italy Commuter Rail And Public Bus Services Market
29. Spain Commuter Rail And Public Bus Services Market
30. Austria Commuter Rail And Public Bus Services Market
Top Major Players:
- Duetsche Bahn AG
- Metropolitan Transportation Authority Corporation
- The East Japan Railway Company
- Guangzhou Public Transport Group
- The West Japan Railway Company
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