Report Ocean recently released a research report on the Alternate Transportation Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global alternate transportation market revenue was around US$ 207.7 billion in 2021 and is estimated to reach US$ 621.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 11.6% during the forecast period from 2022 to 2031.
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Alternate transport is a service that allows users to commute without an automobile. Public transportation, walking, carpooling, and biking are a few well-known examples. It can be used by several passengers concurrently on a sharing basis. This service is frequently structured with several regional offices, which are typically situated close to airports or busy urban areas, and a website to enable online reservations.
Factors Influencing Market Growth
The rising popularity of on-demand transportation services, rising auto ownership costs, and rising demand from online booking sources. These factors fuel the market growth.
Introduction of eco-friendly electric cab services and the use of automobile rental management software. Thus, it is anticipated to create opportunities for the market.
The lack of internet access in developing nations, resistance from local transportation providers, and various national government laws are all anticipated to impede the development of the alternative transportation sector.
Study of the COVID-19 Pandemic
The COVID-19 pandemic creates uncertainty in the market. Governments in several areas have declared entire lockdowns and temporary closures of industries, which has a negative impact on overall production and sales. Additionally, it caused airline delays, travel restrictions, and quarantines, all of which significantly slowed down global supply chains and logistics operations. Due to the closing of stores and enterprises in the majority of the world’s countries, demand for taxi or cab services and, consequently, ride-sharing services has decreased.
Due to the lockdown, fewer people are using ride-sharing services for their everyday commute. Health and safety issues make users prefer to drive their cars, which will limit market growth in 2020. However, as travel restrictions and lockdowns expand globally due to the coronavirus pandemic, major ride-sharing companies like Uber, Ola, Didi, Grab, Lyft, and others are already feeling the strain.
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Regional Insights
North America is expected to hold the largest share of the market. The US and Canada are the majority of parent organizations are headquartered. Furthermore, increasing demand from internet booking sources, rising motor ownership prices, and the popularity of on-demand transportation services. These elements support market expansion in this region.
Leading Competitors
The leading competitors in the global alternate transportation market are:
AECOM
AeroMobil
AeroVironment
Alternative Transportation Systems
Autel Robotics
Baidu
Carzonrent India Pvt Ltd
Delft Hyperloop
Kespry
Lockheed Martin Corporation
NuTonomy
SpaceX
Tesla Inc
Virgin Hyperloop
Yuneec Holding Ltd
ANI Technologies Pvt Ltd
BlaBlacar
Others
Segmentation Analysis
The global alternate transportation market segmentation focuses on Type, Booking Type, Commute Type, Vehicle Type and Region.
Segmentation based on Type
Sharing
Renting
Segmentation based on Booking Type
Online
Offline
Segmentation based on Commute Type
Intracity
Intercity
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Segmentation based on Vehicle Type
Cars
Motorcycles
Others
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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Table of Content
Chapter 1: Global Alternate Transportation Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Alternate Transportation market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Alternate Transportation Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Alternate Transportation market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Alternate Transportation market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Alternate Transportation market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Alternate Transportation market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Alternate Transportation business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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