The commuter rail and public bus services market includes sales of commuter rail and public bus services and related goods by entities (organizations, sole traders, and partnerships) that operate 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., The demand for commuter rail and bus services has increased in recent years due to industrialization and urbanization. Rail and bus services are available to the general public and primarily operate in regional and local commuter transportation with regular routes, fixed schedules, and charge a posted fee for each trip. Many bus service providers are introducing hybrid buses to minimizes carbon emissions. Buses are generally powered using diesel which emits CO2 emissions into the environment. Hybrid buses, on the contrary, utilize alternative fuel and do not require heavy investment like electric buses. A hybrid bus is powered by two alternate fuels or fuel along with electricity, diesel-natural gas, or diesel-electric. Furthermore, these buses provide a quieter experience and reduced maintenance costs. According to research by the Environmental and Energy Study Institute, hybrid busses provided about 40% improvement in fuel efficiency in comparison to standard diesel coach and nearly 90% improvement over compressed natural gas buses.
COVID-19 Impact Analysis
- The outbreak of Coronavirus disease (COVID-19) has served as a significant restraint on the commuter rail and public bus services market in 2020 as governments implemented lockdowns and limited movement of people and goods to contain the transmission. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was discovered in 2019 in Wuhan, Hubei province of the People's Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a drop-in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to hinder businesses . After easing lockdown restrictions, the world is gradually returning back to a normal pace with the new permanent changes in society. Transportation has begun partially across the globe with stringent restrictions such as passenger limit and maintenance of social distancing. Thus, the COVID-19 outbreak has a significant impact on the overall commuter rail and bus services market, owing to a decrease in ridership and health concerns of passengers.
Top Impacting Factors
Rail & bus transport is a means of reducing traffic congestion, rise in urban population, and initiatives by governments to improve public transport infrastructure drive the growth of the market.
Requirement of high capital investment to improve existing transport, and security of passenger hinder the growth of the market.
Rapid rate of economic reforms, and increase in demand for comfort and safety act as an opportunity for the market investments.
The Global Commuter Rail and Bus Services Market Trends are as Follows:
Rail & Bus Transport is a Means of Reducing Traffic Congestion
- Growth in urbanization in almost every country across the globe has increased the traffic in every developed city. Therefore, governments have encouraged individuals to use public transport for daily travel, thereby strengthening the means of transportation for shorter distances. An increase in awareness among people for the environment has also motivated them to use public transportation or shared mobility. Thus, driving the growth of the market.
Increase in Demand for Comfort and Safety
- People all across the globe are willing to spend more to save time, the security provided, and the facilities they receive. While traveling the passengers are expecting good services all across the globe. Manufacturers of light rail are innovating new designs to fulfill increased demand for comfort & safety. Therefore, this is expected to boost the growth of the market over the forecast period.
Key Benefits of the Report:
- This study presents the analytical depiction of the commuter rail and bus services market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the commuter rail and bus services market.
- The current market is quantitatively analyzed to highlight the growth scenario of the commuter rail and bus services market.
- The report provides a detailed commuter rail and bus services market analysis based on competitive intensity and the competition that will take shape in coming years.
Questions Answered in the Commuter Rail and Bus Services Market Research Report:
- Who are the leading market players active in the commuter rail and bus services market?
- What would be the detailed impact of COVID-19 on the market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the commuter rail and bus services market?
- What are the future projections that would help in taking further strategic steps?
Commuter Rail and Bus Services Market Report Highlights
By End User
Key Market Players
GMV, Cubic Transportation Systems, Chicago Transit Authority, GIRO, Consat, Cosmatis, Bay Area Rapid Transit, Goal System, Grupo Etra., Digigroup