Transit and ground passenger transportation market is expected to reach $600 billion+ by 2021, says TBRCÂ’s latest report.

(MoneyNewsWire.Net, July 19, 2018 ) 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.

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One of the reasons why the global Transit and ground passenger transportation market will increase from $506 billion in 2017 to $600 billion+ by 2021 is government investments in urban transit systems and interurban and rural bus transportation systems, strategic partnerships of private transit service providers with government.

The transit and ground passenger transportation market is split into commuter rail and public bus services, taxi and limousine services, school and employee bus services and charter bus services. Commuter rail and public bus services corresponds to 66.5% of the market share.

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The USA was the largest country in the transit and ground passenger transportation market in 2017 followed by Germany, China, UK and France.

The transit and ground passenger transportation market is fragmented due to the presence of many small and local players. The top three competitors in the market according to The Business Research Company’ report are Transport for London, Metropolitan transportation authority, MTR corporation. Transport for London (TfL) was the largest company in the transit and ground passenger transportation market in 2017.

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