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Transit And Ground Passenger Transport Market: Unveiling Evolving Trends & Market Dynamics in Ground Transportation
Transit And Ground Passenger Transport Market
As per the report, the transit and ground passenger transport market size has grown strongly in recent years. It will grow from $710.89 billion in 2023 to $777.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The transit and ground passenger transport market size is expected to see strong growth in the next few years. It will grow to $1086.85 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
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Faster Economic Growth Boost The Transit And Ground Passenger Transport Market
The transit and ground passenger transportation markets' growth is aided by the stable economic growth forecasted 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. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's 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 developed markets in the forecast period. Stable economic growth is expected to increase investments in end-user markets, thereby driving the market during the forecast period.
Transitioning To Greener Public Transportation With Solar-Powered Buses
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 the fuel efficiency of the vehicle and increases the life of lithium batteries. Further, the technology has low-maintenance components, allowing the companies to save costs. For instance, Shenzhen in China converted its entire fleet of 16,000 buses to run entirely on electricity. This was made possible by having bus parking roofed with solar panels to enable charging facilities. Major companies involved in manufacturing electric buses include Kiira Motors, BYD Company, Heilongjiang Qiqiar New Energy Automobile Co., Ltd., Bauer's Intelligent Transportation, Yutong, and Volvo buses.
The transit and ground passenger transport market covered in this report is segmented -
1) By Type: Commuter Rail And Public Bus Services, Taxi And Limousine Services, School And Employee Bus Services, Charter Bus Services, Other
2) By Distance: Long Distance, Short Distance
3) By Destination: Domestic, International
Sub segments: Commuter Rail Services (METRO And Multi-Modal Transport System (MMTS)) , Public Bus Services., Online Taxi Services, Tele And Offline Taxi Services , Limousine Services., Student Bus Services , Employee Bus Services.
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Major companies operating in the transit and ground passenger transport market report are Uber Technologies, Inc., Didi Chuxing Technology Co, Keolis, FirstGroup Plc, Metropolitan Transportation Authority, TRANSPORTE BRASILEIRO LTDA, Nihon Kotsu, Madrid Metro, Grab Taxi, MAILCAR S.R. L, Prague Taxis, Grupo CHAPÍN, Oga taxi, Gett, Stabus, Yandex., Chauffeur Privé, Bolt, Ashflex School Bus Services Limited, Golden Arrow Bus Services, The Coach People, Taxify, National Express Group, Intercape, EL CONDOR EMPRESA DE TRANSPORTE E.T. S. A, Santa Clara Valley Transportation Authority, Dresdner Verkehrsbetriebe, Cook-Illinois Corporation, Littele cabs, First Travel Solutions, Transdev North America Inc., Münchner Verkehrsgesellschaft, Hamburger Hochbahn, Budapesti Közlekedési Központ (BKK), PUTCO, tefano's RomeCabs, Yellow Bus Ghana, Cabify, Africa Ride, GSP Belgrade, Transport For London, Guangzhou Metro, Domenico's Airport Transfers, Transportation Charter Services, The Free Enterprise System, First Student, Royal Coach Tours, StorerCoachways, Transportes Del Tejar S. A, DATTCO Inc, The Port Authority of New York & New Jersey, Northfield Lines, Arrow Stage Lines, Rohrer Bus, All Board School Transportation, Student Transportation of Canada, TransLink wins, Norfolk Southern Railway Company, Transdev Canada, Zagrebački električni tramvaj, Metro-North Commuter Railroad Co Inc, School Transport Services, Charter House, BATaxi, MK Chauffeur Drive, Washington Metropolitan Area Transit Authority, Velocity Buses Transportation, Emirates Transport Center, Columbia Transit Corp, Chicago Transit Authority (CTA) , Xiaoche001, Energos Services India Pvt. Ltd., Employee Transport Services (ETS) LLC, Dubai Taxi Corporation, Yookoo rid, Beijing¬-tianjin, Grab Holdings Inc., Rome Chauffeur, Rainbow Coaches, LeCab and MyTaxi, Rea Vaya, Stagecoach Group, Arriva, Ola Cabs, Lyft, Inc.
Contents of the report:
1. Executive Summary
2. Transit And Ground Passenger Transport Market Report Structure
3. Transit And Ground Passenger Transport Market Trends And Strategies
4. Transit And Ground Passenger Transport Market - Macro Economic Scenario
5. Transit And Ground Passenger Transport Market Size And Growth
…..
27. Transit And Ground Passenger Transport Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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