Transit And Ground Passenger Transport Global Market To Reach Value Of About $634.9 Billion In 2025

15 Mar, 2021

The transit and ground passenger transport market consists of sales of transit and ground passenger transportation services and related goods by entities (organizations, sole traders and partnerships) that provide a variety of passenger transportation services, such as urban transit systems, chartered buses, school buses, and interurban bus transportation. The transit and ground passenger transport market is segmented into commuter rail and public bus services, taxi and limousine services, school and employee bus services, charter bus services and other transit and ground passenger transportation.

Global Transit And Ground Passenger Transport Market Size And Drivers:

The global transit and ground passenger transport market is expected to grow from $412.7 billion in 2020 to $460.8 billion in 2021 at a compound annual growth rate (CAGR) of 11.%. The market is expected to reach $634.9 billion in 2025 at a CAGR of 8%.

The transit and ground passenger transportation market growth is aided by stable economic growth forecasted in many developed and developing countries.

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Trends In The Global Transit And Ground Passenger Transport Market

Companies are actively pursuing electricity to power buses to reduce carbon emissions and cut costs. Solar buses run on electric batteries which in some cases are also charged by solar panels installed on the roof of the bus. This improves fuel efficiency of the vehicle and increases the life of lithium batteries. Further, the technology has low maintenance components allowing the companies to save cost.

Global Transit And Ground Passenger Transport Market Segments:
The global transit and ground passenger transport market is further segmented based on type and geography.
By Type: Commuter Rail And Public Bus Services, Taxi And Limousine Services, School And Employee Bus Services, Charter Bus Services, Other Transit And Ground Passenger Transport
By Subsegments Covered: Commuter Rail Services (Metro And MMTS), Public Bus Services, Online Taxi Services, Tele And Offline Taxi Services, Limousine Services, Students Bus Services, Employee Bus Services
By Geography: The global transit and ground passenger transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Western Europe is the largest region in the global transit and ground passenger transport market, accounting for 39% of the total market.

Read More On The Report For The Global Transit And Ground Passenger Transport Market At:


https://www.thebusinessresearchcompany.com/report/transit-and-ground-passenger-transport-global-market-report-2020-30-covid-19-impact-and-recovery

Transit And Ground Passenger Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides transit and ground passenger transport market overviews, analyzes and forecasts market size and growth for the global transit and ground passenger transport market, transit and ground passenger transport market share, transit and ground passenger transport market players, transit and ground passenger transport market segments and geographies, transit and ground passenger transport market’s leading competitors’ revenues, profiles and market shares. The transit and ground passenger transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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