The Transit And Ground Passenger Transportation Global Market Is Expected To Grow Close To $647 Billion By 2021 According To TBRC’s Latest Report

The transit and ground passenger transportation industry includes companies offering passenger transportation services, such as urban transit systems, taxis, and chartered bus, school bus, and interurban bus transportation. This industry includes both government and private operated transportation systems. These services are split into scheduled and nonscheduled transportation services, which are differentiated depending on production process factors such as vehicle types, routes, and schedules. The scheduled transportation industry includes establishments offering urban transit systems, interurban and rural bus transportation, and school and employee bus transportation. While the nonscheduled industry includes establishments involved in charter bus industry and taxi and limousine service.

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The major reasons why the global transit and ground passenger transportation market will increase from $506 billion in 2017 to close to $647 billion by 2021 are government investments in urban transit systems, interurban and rural bus transportation systems, strategic partnerships of private transit service providers with government, lower fuel prices, strong economic growth in countries such as China and India during the forecast period.

In the report, the global transit and ground passenger transportation market is divided into four segments. Commuter rail and public bus services occupy the major share, accounting for more than two-third of the market. Taxi and limousine services is the second largest segment, accounting for almost one-fifth of the market and the remaining share is attributed to the other two segments, namely school and employee bus services, and charter bus services.

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The USA was the largest country in the transit and ground passenger transportation market in 2017, accounting for more than 10% of the market share. Germany and China followed the USA as the next largest countries in the market.

The transit and ground passenger transportation market is fragmented with a number of large and small organizations. The top five competitors in the market made up 3.7% of the total market in 2017. Transport For London was the largest competitor of the market, followed by Metropolitan Transportation Authority and MTR Corporation. Transport For London was founded in 2000 and is headquartered in London, UK. The company provides transportation services such as management of buses, trams, and railways, implementation of transport strategy, planning of transport facilities and maintenance of traffic lights.

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