Global Passenger Rail Transport Market Trends And Strategies Of Major Players In The Passenger Rail Transport Market 2021-2030
20 Apr, 2021
The passenger rail transport market consists of sales of passenger rail transportation services and related goods by entities (organizations, sole traders and partnerships) that use trains to provide transport for passengers from a station where they board the train to a destination station.
Global Passenger Rail Transport Market Size And Drivers:
The global passenger rail transport market 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 market is expected to reach $307.39 billion in 2025 at a CAGR of 6%.
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Trends In The Global Passenger Rail Transport Market
Advanced driver assistance system (ADAS) technology is becoming popular in rail transportation industry to optimize energy usage, enhance operational management, safety and aid in cost reduction. These systems provide automatic warning, protection, operation, supervision, and control arrangement. They also aid in meeting stringent government regulations towards passenger safety. Around 60 million units of advanced driver assistance systems were produced globally.
Global Passenger Rail Transport Market Segments:
The global passenger rail transport market is further segmented based on type and geography.
By Type: Medium-Distance Passenger Transport, Long-Distance Passenger Transport, Short-Distance Passenger Transport.
By Geography: The global passenger rail transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global passenger rail transport market, accounting for 42% of the total market.
Read More On The Report For The Global Passenger Rail Transport Market At:https://www.thebusinessresearchcompany.com/report/passenger-rail-transport-global-market-report-2020-30-covid-19-impact-and-recovery
Passenger Rail Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides passenger rail transport market overviews, analyzes and forecasts market size and growth for the global passenger rail transport market, passenger rail transport market share, passenger rail transport market players, passenger rail transport market segments and geographies, passenger rail transport market’s leading competitors’ revenues, profiles and market shares. The passenger rail transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.