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LONDON, GREATER LONDON, UNITED KINGDOM, June 20, 2025 /EINPresswire.com/ -- The Business Research Company’s Latest Report Explores Market Driver, Trends, Regional Insights - Market Sizing & Forecasts Through 2034.
The transit and ground passenger transport market size has witnessed robust growth in the recent years, with a growth prediction from $787.33 billion in 2024 to $862.64 billion in 2025 at a compound annual growth rate CAGR of 9.6%. The growth in the historic period can be attributed to factors like rapid urbanization, aging population, lifestyle changes, increased safety threats, technology development, low oil prices and a low interest rate environment.
What Factors Will Shape the Size of the Transit and Ground Passenger Transport Market in the Short Term?
The market is set to see strong expansion in the coming years, peaking at $1183.04 billion in 2029 at a CAGR of 8.2%. Factors fuelling this growth in the forecast period include the rising population, emphasis on cutting carbon emissions, technological advancements, and an increasing number of corporates and new educational institutes. The forecast period will also witness major trends like the integration of advanced services, the installation of hybrid buses, the incorporation of USB, Wi-Fi, and large screen display services, the enhancement of safety features, the switch to electric buses to minimize carbon emissions, and the implementation of big data analytics tools.
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How Do Ride-sharing Services Impact the Transit and Ground Passenger Transport Market?
The transit and ground passenger transport market are set to ride the wave of increased demand for ride-sharing services. These platforms provide connections between individuals seeking rides and drivers who use their own vehicles for transportation, which enhances overall mobility and transportation efficiency. Notably, transit and ground passenger transportation services play a crucial role in supplementing ride-sharing services by facilitating vital first- and last-mile connectivity, thereby making it more convenient for passengers to access ride-sharing options.
What Key Player Strategies Are Driving The Transit And Ground Passenger Transport Market?
Key industry players operating in the transit and ground passenger transport market include Uber Technologies, Inc., Didi Chuxing Technology Co, Keolis, FirstGroup Plc, Metropolitan Transportation Authority, TRANSPORTE BRASILEIRO LTDA, Nihon Kotsu, Madrid Metro, MAILCAR S.R. L, Prague Taxis, Grupo CHAPÍN, Oga taxi, Gett, Stabus, Yandex., Chauffeur Privé, Bolt, Ashflex School Bus Services Limited, Golden Arrow Bus Services, The Coach People, Taxify, National Express Group, Intercape, EL CONDOR EMPRESA DE TRANSPORTE E.T. S. A, Santa Clara Valley Transportation Authority, Dresdner Verkehrsbetriebe, Cook-Illinois Corporation, Littele cabs, First Travel Solutions, Transdev North America Inc., Münchner Verkehrsgesellschaft, Hamburger Hochbahn, Budapesti Közlekedési Központ BKK, and PUTCO among others.
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What Are The Emerging Trends In The Transit And Ground Passenger Transport Market?
Companies in the transit and ground passenger transport market are adopting electricity to power buses as a method to curb carbon emissions and trim costs. Solar-powered buses rely on electric batteries, which in some instances are charged via solar panels installed on the bus roofing. This technology increases the fuel efficiency of the vehicles while prolonging the life of lithium batteries and having low-maintenance components, resulting in cost savings for businesses.
How Is The Transit And Ground Passenger Transport Market Segmented?
Segment With Most Promising Projections In The Transit And Ground Passenger Transport Market:
The market can be segmented in various ways –
1 By Type: Commuter Rail And Public Bus Services, Taxi And Limousine Services, School And Employee Bus Services, Charter Bus Services, Others
2 By Distance: Long Distance, Short Distance
3 By Destination: Domestic, International
This report also includes subsegments covering areas like Local Commuter Rail Services, City And Regional Bus Services, Rapid Transit Systems, Traditional Taxi Services, Ride-hailing Services, Limousine and Luxury Vehicle Services, School Transportation Services, Corporate And Employee Shuttle Services, and Private Charter Services For Groups, Tour And Travel Bus Services.
What Is The Regional Outlook For The Transit And Ground Passenger Transport Market?
In the landscape of the transit and ground passenger transport market, Asia-Pacific took the lead in 2024, while Western Europe served as the second-largest region. The regions covered in the market report feature Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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