LONDON, Feb. 04, 2021 (GLOBE NEWSWIRE) — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
According to The Business Research Company’s research report on the rail industry outlook 2021, Generation Z prefers sustainable rail transport. A survey was conducted by international think tank, ThinkYoung, a Brussels based not-for-profit organization, in 2020, among young travelers in Europe about their preference for green and zero-emission technology for rail transport. According to the survey, the generation Z in Europe, aged between 16-25 years gave preference to greener transport and suggested public authorities to invest in sustainable rail transport. The survey also revealed that the generation Z believed zero-emission technology to be the future of innovation for rail transport. Thus, such implementations here could impact the rail transport market size Europe has a share of.
Along with sustainable rail transport, the use of it over private transport is seen by customers to be a huge benefit for the environment. A survey was conducted in 2020 by Deutsche Bahn (DB) Regio, a regional train operator, with the support of the Association of German Transport Companies, about the use of public transport before and after COVID-19. About 60% of the respondents expected an increase in the number of passengers using public transport after COVID-19 and 38% intended to use public transport at least once a week post pandemic. Further, about 64% of the respondents aged 16 to 29-years considered public transport as a major factor in effectively delivering traffic and climate change.
The global rail transport market reached a value of nearly $468.6 billion in 2020, having increased at a compound annual growth rate (CAGR) of 1.5% since 2015. The market is expected to grow from $468.6 billion in 2020 to $658.4 billion in 2025 at a rate of 7.0%. The rail transportation market size is then expected to grow at a CAGR of 5.1% from 2025 and reach $845.7 billion in 2030.
The Business Research Company’s report titled Rail Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030 covers major rail transport companies, rail transport market share by company, rail transport manufacturers, rail transport infrastructure market size, and rail transport market forecasts. The report also covers the global rail transport market and its segments.
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The number of rail passengers during the pandemic decreased significantly as individuals were restricted from traveling to avoid the spread of COVID-19. Lockdown was imposed across countries to restrict movement and contain the virus. However, in early May 2020, governments restarted railway services to passengers in a phase manner, maintaining social norms to protect them from coronavirus. For instance, the Government of India started 15 trains to run from Delhi connecting major cities in the country. Moreover, rail transport service providers are increasing freight services to make up for the losses incurred due to passenger railway services. Trains were used as a main player to serve communities under lockdown with essential commodities such as medicine, personal protective equipment (PPE) as there were not any restriction imposed on freight carriers. As air and water freight transport systems have been suspended, manufacturing companies are resorting to trains to keep their supply chain flowing as well.
The key players in the market are focusing on expanding their presence in developing countries through strategic partnerships with regional companies. The top 10 companies in the market occupied 34% of market share in the global rail transport market. Major players in the rail transport market include Deutsche Bahn, BNSF, JSC Russian Railways, Indian Railways, SNCF, Union Pacific Corporation, East Japan Railway Company, CSX Corporation, Central Japan Railway Company and Canadian National Railway Company.
Rail Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
Passenger Rail Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Rail Freight Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030
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