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Passenger Rail Transport Market Forecast 2023-2032 By Growth, Top Key Players, Current And Upcoming Trends | Indian Railways, FirstGroup PLC, JSC Russian Railways, Swiss Federal Railways, Duetsche Bahn AG
Passenger Rail Transport Market Trends
As per the passenger rail transport market report by The Business Research Company, Advanced driver assistance system (ADAS) technology is becoming popular in the rail transportation industry to optimise 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.
The global passenger rail transport market grew from $246.64 billion in 2022 to $265.31 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The passenger rail transport market is expected to grow to $345.12 billion in 2027 at a CAGR of 6.8%.
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Major competitors in the Passenger Rail Transport market include China Railway Corporation, Central Japan Railway Co, Duetsche Bahn AG, East Japan Railway Co, FerroviedelloStatoItalianeSpA, Indian Railways, FirstGroup PLC, JSC Russian Railways, Swiss Federal Railways, and Canadian Pacific Railway.
The Passenger Rail Transport market is segmented -
By Type: Medium-Distance Passenger Transport, Long-Distance Passenger Transport, Short-Distance Passenger Transport
By Service Type: Transportation, Services Allied to Transportation (Maintenance of Railcars and Rail Tracks, Switching of Cargo, and Storage)
By Application: City, Rural
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Passenger Rail Transport market.
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Passenger rail transport refers to the transportation of people using wheeled vehicles that are specifically made to travel along railroads that operate either on networks with physical facilities, labor forces, and equipment spread over a wide geographic area or over a short distance on a local rail line.
The Table Of Content For The Passenger Rail Transport Market Include:
1. Executive Summary
2. Report Structure
3. Passenger Rail Transport Market Characteristics
4. Passenger Rail Transport Market Product Analysis
5. Passenger Rail Transport Market Supply Chain
……
21. Key Mergers And Acquisitions In The Passenger Rail Transport Market
22. Market Background: Rail Transportation Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer
The "Global Passenger Rail Transport Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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