Urban Mobility: Commuter Rail and Public Bus Services Market Insights 2024

The commuter rail and public bus services market size has grown strongly in recent years. It will grow from $401.19 billion in 2023 to $440.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to increased urbanization, traffic congestion, environmental concerns, economic development, fuel price fluctuations, population density.

The commuter rail and public bus services market size is expected to see strong growth in the next few years. It will grow to $628.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to growing urban mobility solutions, electric and sustainable public transit, smart cities initiatives, flexible transit services, fare integration. Major trends in the forecast period include integration of contactless payment systems, real-time passenger information systems, mobility as a service (maas) integration, bus lane priority systems, enhanced accessibility features.

Market Overview -
Commuter rail and public bus services refer to a mode of transportation that operates local and suburban ground passenger transit systems using more than one mode of transport over regular routes and on regular schedules within a metropolitan area and its adjacent nonurban areas and is usually characterized by reduced fares, multiple rides, and commuter tickets and is mostly used by passengers during the morning and evening peak periods.

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Favorable Economic Conditions Fueling Growth In Commuter Rail And Public Bus Services
The commuter rail and public bus service 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, following a significant decline in the previous period, are expected to further aid market 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.

Competitive Landscape -
Major companies operating in the commuter rail and public bus services market report are Duetsche Bahn AG, Metropolitan Transportation Authority Corporation, The East Japan Railway Company, Guangzhou Public Transport Group, The West Japan Railway Company, The Central Japan Railway Company, Transport for London (TFL), Keolis Group, Transdev SA, Nanjing Public Transport Group, RATP Group, The Canadian Pacific Railway Company, Transport International Holdings Limited, FirstGroup PLC, MTR Corp.Ltd., Go-Ahead Group, Arriva plc, ComfortDelGro Corporation, National Express Group, Kyushu Railway Company, Stagecoach Group plc, SBS Transit Ltd., SMRT Corporation, Guangzhou Metro Design & Research Institute Co. Ltd., Shanghai Shentong Metro Group, Wuhan Metro Group, The Kowloon Motor Bus Company Limited, Beijing Public Transport Holdings Co.Ltd., Shenzhen Bus Group, Hangzhou Public Transport Group, Suzhou Public Transport Group, Chengdu Public Transport Group, Xi'an Public Transport Group

The Evolution Of Hybrid Buses In The Bus Service Industry
Many bus service providers are introducing hybrid buses to reduce carbon emissions. Buses are generally powered by diesel, which releases CO2 emissions into the environment. On the contrary, hybrid buses utilize alternate fuel and do not require heavy investment like electric buses. A hybrid bus is powered by two alternate fuels or fuel combined with electricity, diesel-natural gas, or diesel-electric. In addition to 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 economy in comparison to standard diesel coaches and nearly 90% improvement over compressed natural gas buses. Major companies involved in the manufacturing of hybrid buses are Arriva Bus, Stagecoach, Volvo Buses, Allison Transmission, and Jinlong.

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Key Segments -

The commuter rail and public bus services market covered in this report is segmented -

1) By Type: Commuter Rail Services (Metro And MMTS), Public Bus Services
2) By Distance: Long-Distance, Short-Distance
3) By Application: Adults, Children

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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