Transit and Land Passenger Transport Market Growth Rate Reaches 20% with the Introduction of Hybrid Buses
Transit and Ground Passenger Transportation Market by The Business Research Company 2022 – Opportunities and Strategies – Global Forecast to 2030
LONDON, GREATER LONDON, UNITED KINGDOM, June 22, 2022 /EINPresswire.com/ — Transit and ground passenger transport 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 an alternative fuel and do not require such a heavy investment as electric buses, to build an electric bus it costs around $400,000. A hybrid bus is powered by two alternative fuels or one fuel combined with electricity, diesel-natural gas or diesel-electric. Additionally, these buses provide a quieter experience and lower maintenance costs, shaping the market outlook for mass transit and ground passenger transportation.
The global mass transit and ground passenger transportation market size is expected to grow from $265.48 billion in 2020 to $649.15 billion in 2025 at a rate of 19.6%. The global mass transit and ground passenger transportation market share is then expected to grow at a CAGR of 7.6% from 2025 and reach $934.13 billion in 2030.
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In the future, increasing global population will drive the growth of mass transit and ground passenger transportation market. The world’s population is growing and is expected to reach 10 billion by 2050. An increase in population creates an increased demand for public transportation services, including mass transit and ground passenger transportation services. The increase in population increases the demand for higher quality schools, universities, government and private offices coupled with better road infrastructure due to the growing need for mobility services. According to the analysis of the global public transport and ground passenger transport market, companies are expected to benefit from an increasing demand for faster and safer mobility services to get to offices and schools by the growing population, at the during the forecast period.
Key Players Covered in Global Mass Transit and Ground Passenger Transportation Industry are Uber Technologies, Inc., Didi Chuxing Technology Co., Keolis, FirstGroup Plc, Metropolitan Transportation Authority.
TBRC’s Transit and Ground Passenger Transportation market report is segmented by Type into Commuter Rail and Public Bus Services, Taxi and Limousine Services, School and Employee Bus Services, charter buses, others.
Transit and Ground Passenger Transportation Market 2022 – By Type (Commuter Rail Services and Public Bus Services, Taxi and Limousine Services, School and Employee Bus Services, Charter Bus Services, Others) , by type of commuter rail and public bus services (commuter rail services (METRO and Multimodal Transit System (MMTS)), public bus services), type of taxi and limousine services (taxi services in online, TV and offline taxi services, limousine services), school and employee bus services (student bus services, employee bus services), and by region, opportunities and strategies – The global forecasts up to ‘to 2030 are part of a series of new reports from The Business Research Company that provides an overview of the mass transit and ground passenger transportation market, forecasts the size and growth of the transit market. Transit and Ground Passenger Transportation Market, Transit and Ground Passenger Transportation Market Segments, Geographies, Transit and Ground Passenger Transportation Market Trends, Transit and Ground Transportation Market Ground Passenger Transportation Drivers, Constraints, Revenues, Key Competitor Profiles and Market Shares.
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