Public transport and Railways Market 2019
The railway market alone registered a growth of $26.0 billion in the year 2019 and is expected to grow at a compound annual growth rate of 5.2% between the year 2019-2025. The industry is expected to cross a figure of $35.3 billion by the end of the year 2025. The growth of the industry is motivated by several factors that affect the growth prospects of the industry. The stringent laws because of the growing number of vehicles have affected the growth prospects of public transport and railways market positively.
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When it comes to public transport and railways market, there is a slew of factors that affect the growth of the industry. The rise in the pollution levels, coupled with the low per capita, has helped the industry grow by leap and bound in recent years. On the other hand, high-speed transportation systems, along with the hassle-free experience, has helped the industry flourish in the past years. On the other hand, the stringent laws imposed by the governments has helped the industry grow by leap and bound.
However, the rise in population, along with poor planning and lack of facilities, has made railways and public transportation systems one of the worst methods of traveling in the developing nation. On the other hand, the developing infrastructural capabilities, coupled with low prices, has been promoting the use of public transport and railways frequently. If the infrastructural capabilities continue to grow high, the industry is expected to grow exponentially in all significant corners of the world.
The public transport and railways market industry can be segmented on several factors, with each segment playing a critical role in the growth and development of the industry. Some of the crucial factors based on which the industry can be segmented into are by application, by transit type, and by system type. Based on the application, the industry is segmented into passenger transportation and freight transportation. On the other hand, based on the transit type, the sector can be segmented into conventional and rapid while based on the system type, the industry can be segmented into the auxiliary power system, train safety system, HVAC, Train information system, propulsion system ad onboard vehicle control system.
When it comes to public transport and railways, they developed nations lead the race. North America, along with Europe, keeps the lion share, while the Asia Pacific region shows some promising signs of growth. The highly populated countries, namely, India and China, led the race in the APAC region, where public transportation has become a need. The trend will continue to prevail for the next few years, but as technology continues to disrupt, some significant changes can be seen in the next few years.
In February of 2019, the India Government placed an order for the most significant order of $42 million to supply state of the art electric locomotive from the Diesel Locomotive Works. The converters would be built at one of the largest factories near Bengaluru, while the converters would be specially designed for Indian Railways.
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Table of Contents – Major key Points
1 Market Overview
2 Manufacturers Profiles
3 Global Public transport and Railways Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
4 Global Public transport and Railways Market Analysis by Regions
5 North America Public transport and Railways by Country
6 Europe Public transport and Railways by Country
7 Asia-Pacific Public transport and Railways by Country
8 South America Public transport and Railways by Country
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