The Business Research Company’s Rail Transport Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON , UK, May 11, 2021 /EINPresswire.com/ — According to the new market research report ‘Rail Transport Rail Transport Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the rail transport market is expected to grow from $468.7 billion in 2020 to $519.3 billion in 2021 at a compound annual growth rate (CAGR) of 10.%.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 $658.9 billion in 2025 at a CAGR of 6%. 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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The rail transport market consists of sales of rail transportation services and related goods by entities (organizations, sole traders and partnerships) that use trains to provide transport for passengers and/or cargo. Railroads operate either on networks with physical facilities, labor forces, and equipment spread over a wide geographic area or operate over a short distance on a local rail line. This market excludes street railroads, commuter rail, urban rapid transit, and scenic and sightseeing train transportation.
Trends In The Global 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. Bombardier Transportation Hitachi Ltd. CRRC Corporation Limited, Ansaldo STS, and SIEMENS AG.
Global Rail Transport Market Segments:
The global rail transport market is further segmented based on type and geography.
By Type: Passenger Rail Transport, Rail Freight
By Distance: Long-Distance, Short-Distance
Subsegments Covered: Medium-Distance Passenger Transport, Long-Distance Passenger Transport, Short-Distance Passenger Transport, Intermodals, Tank Wagons, Freight Cars
By Geography: The global rail transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific rail transport market accounts for the largest share in the global rail transport market.
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Rail Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides rail transport market overviews, analyzes and forecasts market size and growth for the global rail transport market, rail transport global market share, rail transport global market players, rail transport global market segments and geographies, rail transport global market’s leading competitors’ revenues, profiles and market shares. The rail transport global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Rail Transport Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Rail Transport Market Organizations Covered: China Railway Corporation; Russian Railways; Indian Railways; Deutsche Bahn AG; Union Pacific Railroad.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets. Here is a list of reports from The Business Research Company similar to the Rail Transport Global Market Report 2021:
Passenger Rail Transport Global Market Report 2021
Rail Freight Global Market Report 2021
Transit And Ground Passenger Transport Global Market Report 2021
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Source: EIN Presswire