How Global Passenger Rail Transport Market Players Should Strategize For 2022-2031

The global passenger rail transport market size is expected to grow from $227.21 billion in 2021 to $250.93 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The passenger rail transport market is then expected to grow to $357.84 billion in 2026 at a CAGR of 9.3%.

What is the Global 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 use trains to provide transport for passengers from a station where they board the train to a destination station.

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What drives the Global Passenger Rail Transport Market?

Advanced driver assistance system (ADAS) technology is becoming popular in the 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. Some companies providing these systems for locomotives are Thales Group, Alstom S.A., Bombardier Transportation Hitachi Ltd., CRRC Corporation limited, Ansaldo STS, and SIEMENS AG.

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Global Passenger Rail Transport Market Segments
The global passenger rail transport market is segmented:
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 regions covered in the passenger rail transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Passenger Rail Transport Global Market Report 2022provides market size and growth forecasts for the global passenger rail transport market, global passenger rail transport market share, passenger rail transport market segments and geographies, passenger rail transport market competitive landscape including 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.

Global Passenger Rail Transport Industry Playersinclude China Railway Corporation, Central Japan Railway Co, Duetsche Bahn AG, East Japan Railway Co, Ferrovie dello Stato Italiane SpA, Indian Railways, FirstGroup PLC, JSC Russian Railways, Swiss Federal Railways, and Canadian Pacific Railway. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.