Stable economic growth is a supporting factor for the market for commuter train and public bus services
The Business Research Company’s Commuter Train and Public Bus Services – Impact and Recovery of COVID-19
LONDON, GREATER LONDON, United Kingdom, 23 November 2021 /EINPresswire.com/ — The commuter train and public bus services market growth is supported by stable economic growth expected in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. The recovery in commodity prices, after a significant decline during the historical period, Market growth is expected to further promote the developed economies are also expected to register stable growth during the forecast period. In addition, emerging markets are expected to continue to grow slightly faster than developed markets during the forecast period. Stable economic growth is expected to increase investment in end-user markets thereby driving the market over the forecast period.
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Western Europe was the largest region in the global commuter train and public bus service market, accounting for 39% of the market in 2020. Asia-Pacific was the second largest region, accounting for 29% of the global passenger train market. commuter train and public bus services. Africa was the smallest region in the global market for commuter train and public bus services.
Many bus service providers are introducing hybrid buses to reduce carbon emissions. Buses are usually powered by diesel, which releases CO2 emissions into the environment. On the contrary, hybrid buses use alternative fuels and do not require heavy investments like electric buses. A hybrid bus is powered by two alternative fuels or combined with electricity, diesel-natural gas or diesel-electric. On top of that, these buses offer a quieter experience and lower maintenance costs. According to research by the Environmental and Energy Study Institute, hybrid buses offer about 40% improvement in fuel consumption over standard diesel coaches and nearly 90% improvement over natural gas buses compressed. The main companies involved in the manufacture of hybrid buses are Arriva Bus, Stagecoach, Volvo Buses, Allison Transmission and Jinlong.
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The Global Market size for commuter train and public bus services 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 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 that have resulted in operational challenges. The market is expected to reach $ 400.31 billion in 2025 at a CAGR of 9%.
The main players in the global commuter train and public bus service industry are East Japan Railway, MTR, Central Japan Railway, Canadian Pacific Railway, West Japan Railway.
The TBRC Global Commuter Train and Public Bus Services Market report is segmented by Type into Commuter Train Services (Metro and MMTS), Public Bus Services, by Application to Adults and Children.
Global Commuter Train and Public Bus Services Market Report 2021 – By Type (Commuter Train Services (Metro and MMTS), Public Bus Services), By Application (Adults, Children), Impact and COVID-19 recovery is part of a series of new reports from The Business Research Company that provide insight into the commuter train and public bus services market, forecast on the size and growth of the train services market commuter and public bus services for the overall market, commuter train and public bus services market segments, and geographies, commuter train and public bus services market trends driving the market commuter train and public bus services, constraints, revenues, profiles and market shares of major competitors.
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