The Business Research Company’s Commuter Rail And Public Bus Services – COVID-19 Impact and Recovery
LONDON, GREATER LONDON, UK, November 23, 2021 /EINPresswire.com/ — The commuter rail and public bus services market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the 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 the developed markets in the forecast period. Stable economic growth is expected to increase investments in end user markets, thereby driving the market during forecast period.
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Western Europe was the largest region in the global commuter rail and public bus services market, accounting for 39% of the market in 2020. Asia Pacific was the second largest region, accounting for 29% of the global commuter rail and public bus services market. Africa was the smallest region in the global commuter rail and public bus services market.
Many bus service providers are introducing hybrid buses to reduce carbon emissions. Buses are generally powered using diesel which release CO2 emission to 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 reduced maintenance cost. According to a research by Environmental and Energy Study Institute, hybrid busses offered about 40% improvement in fuel economy in comparison to standard diesel coach and nearly 90% improvement over compressed natural gas buses. Major companies involved in manufacturing of hybrid buses are Arriva Bus, Stagecoach, Volvo Buses, Allison Transmission, and Jinlong.
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The global commuter rail and public bus services market size is expected to grow from $261.98 billion in 2020 to $285.08 billion in 2021 at a compound annual growth rate (CAGR) of 8.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $400.31 billion in 2025 at a CAGR of 9%.
Major players covered in the global commuter rail and public bus services industry are East Japan Railway, MTR, Central Japan Railway, Canadian Pacific Railway, West Japan Railway.
TBRC’s global commuter rail and public bus services market report is segmented by type into commuter rail services (Metro and MMTS), public bus services, by application into adults, children.
Commuter Rail And Public Bus Services Global Market Report 2021 – By Type (Commuter Rail Services (Metro And MMTS), Public Bus Services), By Application (Adults, Children), COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provides commuter rail and public bus services market overview, forecast commuter rail and public bus services market size and growth for the whole market, commuter rail and public bus services market segments, and geographies, commuter rail and public bus services market trends, commuter rail and public bus services market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire