Passenger Rail Transportation Market Trends See Growing Popularity of Advanced Driver Assistance Systems
The Business Research Company Global Passenger Rail Market Report 2021: Impact and Recovery of COVID-19 through 2030
LONDON, GREATER LONDON, UK, July 8, 2021 /EINPresswire.com/ – Advanced Driver Assistance System (ADAS) technology is becoming popular in the rail transport industry to optimize energy consumption, improve operational management, safety and help reduce costs. These systems provide automatic warning, protection, operation, supervision and control devices. They also help meet strict government regulations for passenger safety. Around 60 million units of advanced driver assistance systems have been produced worldwide. Some companies supplying these systems for locomotives are Thales Group, Alstom SA, Bombardier Transportation Hitachi Ltd., CRRC Corporation limited, Ansaldo STS and SIEMENS AG.
The passenger rail transport market comprises the sales of passenger rail transport services and related goods by entities (organizations, sole proprietorships and partnerships) that use trains to provide passenger transport from a station where they are board the train to a destination station. The rail passenger transport market is segmented into short-haul passenger transport; medium-distance passenger transport and long-distance passenger transport.
Learn more about the Global Passenger Rail Transportation Market report:
The global passenger rail market size is expected to grow from $ 221.18 billion in 2020 to $ 247.56 billion in 2021 at a compound annual growth rate (CAGR) of 11.9%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 307.39 billion in 2025 at a CAGR of 6%.
Asia-Pacific is the largest region in the global passenger rail transport market, accounting for 42% of the market in 2020. Western Europe is the second largest region, accounting for 37% of the global passenger rail transport market. Africa has the smallest share of the passenger rail transport market.
The main players covered in the global passenger rail industry are East Japan Railway, MTR Hong Kong, Central Japan Railway, West Japan Railway, Canadian Pacific Railway.
The global passenger rail transport market is segmented by type into medium-haul passenger transport, long-haul passenger transport, and short-haul passenger transport.
Global Passenger Rail Market Report 2021: Impact and Recovery of COVID-19 through 2030 is part of a series of new reports from The Business Research Company that provides insight into the passenger rail market, predicts the size and growth of the global passenger rail transport market for the overall market, global passenger rail transport market segments and geographies, global passenger rail transport market trends, drivers of the global rail passenger transport market passengers, constraints, revenues, profiles and market shares of the main competitors.
Request for Sample of Global Passenger Rail Transportation Market Report:
Here is a list of similar reports from the Business Research Company:
Global Rail Transport Market Report 2021: Impact of COVID-19 and Recovery to 2030
Global Commuter Train and Public Bus Services Market Report 2021: Impact of COVID-19 and Recovery to 2030
Global Passenger Transit and Land Transport Market Report 2021: Impact of COVID-19 and Recovery to 2030
Want to learn more about The Business Research Company?
Learn more about us at https://www.thebusinessresearchcompany.com/about-the-business-research-company.aspx
The Business Research Company is a market research and intelligence company that excels in business, market and consumer research. It has more than 200 research professionals in offices in India, the UK and the US, as well as a network of trained researchers around the world. It has consultants who specialize in a wide range of industries including manufacturing, healthcare, financial services and technology.
Call us now for personal assistance with your purchase:
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
The commercial research company
Email: [email protected]
Follow us on LinkedIn: https://bit.ly/3b7850r
Follow us on Twitter: https://bit.ly/3b1rmjS
Check out our blog: http://blog.tbrc.info/