USD 218.19 billion
Public Transportation Market Size, Share, Growth Analysis, By Distribution Channel(Online and Offline), By Model Type(Road, Rail, Water, and Cab Car), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25C2119 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|Tables:
62
|Figures:
75
Public Transportation Market Insights
Global Public Transportation Market size was valued at USD 218.19 billion in 2022 and is poised to grow from USD 247.14 billion in 2023 to USD 652.37 billion by 2031, growing at a CAGR of 12.90% during the forecast period (2024-2031).
Increasing congestion in urban areas is the prime factor boosting demand for public transportation all over the world. Growing focus on reducing emissions and improving the overall mobility of people are also estimated to favor public transportation market growth over the coming years. Public transportation includes buses, trams, subways, trains, etc. that provide affordable transport for people.
Sustainable urban development plans and efforts to reduce traffic congestion in populated parts of the world are also slated to boost the public transportation demand outlook. Prioritization of public transportation by governments around the world will also play a crucial role in the future public transportation market development. Efforts to reduce reliance on private vehicles will also uplift public transportation demand.
The development of advanced electric buses and trains, the integration of smart ticketing systems, and the high availability of convenient public transport solutions are other factors that could create new opportunities for public transportation providers. Reduced public transportation costs could also attract commuters toward public transportation.
Contrastingly, budgetary constraints and maintenance issues act as major restraints for the overall market growth in the long term. Moreover, unforeseen and unpredicted events such as the COVID-19 pandemic also hinder public transportation market potential. The evolving needs of public transportation in urban as well as rural settings coupled with increased focus on sustainability is estimated to boost public transportation demand in the future.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Offline distribution channels
Fastest Growth
Offline distribution channels
Growth Rate
12.90% CAGR
Global Public Transportation Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Public Transportation Market Segmental Analysis
The global public transportation market has been segmented on the basis of Distribution Channel, Mode Type, and Region. In terms of distribution channel, the market is segmented into Online and Offline. Based on Mode Type, the market is bifurcated into Road, Rail, and Others (Water, Cable Car, etc.). On a regional level, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, Latin America.
Analysis By Distribution Channel
Offline distribution of tickets and passes to access public transportation has been around for several years and is still a preferred way in modern times, which allows it to account for a dominant market share. Passengers and commuters usually buy tickets at the bus or train station before their journey or through ticket agents. While this is a popular way to obtain access to public transportation it is not very convenient and this is why demand for online channels is slated to grow in the future.
Online distribution of tickets through websites, mobile apps, and third-party platforms is projected to emerge as the fastest-growing segment all over the world. Growing digitization and rising smartphone proliferation are predicted to be key prospects that boost demand for online distribution of tickets going forward. People who prefer contactless transactions are more inclined to opt for online distribution. The growing availability of online booking platforms is slated to boost growth in this segment.
Analysis By Mode Type
Road public transportation accounts for the largest share of the global public transportation marketplace. Wide availability of different public transportation options through roads such as buses and trams allows this segment to account for a prominent share of the global market. High use of road transportation in urban as well as rural settings also adds up to the benefit of this segment. Extensive road networks and growing investments in the development of new means of road public transportation are slated to offer attractive growth opportunities.
Rail public transportation is forecasted to emerge as the fastest-growing segment in the public transportation market. Rail-based transit systems, include subways, light rail, and commuter trains. High efficiency of rail-based systems and their ability to eliminate traffic congestion in densely populated urban areas. Moreover, the increasing availability of new high-speed rail is also slated to benefit growth in this segment.
Global Public Transportation Market By Distribution channels
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Public Transportation Market Regional Insights
The Asia Pacific region accounts for a prominent share of the global public transportation marketplace with China leading the growth in this region. The presence of an expansive public transportation network in China is what makes it the foremost market for public transportation providers in this region. Buses, high-speed trains, subways, and trams account for a prominent share of the public transportation market in the Asia Pacific region. Growing urbanization in Asian economies and a rapidly expanding population base are also slated to boost demand for public transportation over the coming years. Japan, India, and South Korea are also slated to be attractive markets in this region.
Europe accounts for the second-biggest share of the global public transportation market and this can be attributed to the robust public transportation infrastructure of European countries. People in Europe are more inclined to use public transport facilities owing to the expansive network of the same. From buses, subways, trams, to trains, the region is rife with all kinds of public transport that is affordable as well as comfortable for all types of commuters. A high focus on sustainability and increased consumer awareness regarding the environmental benefits of public transportation use also allow this region to account for a notable market share and expand at a rapid pace in the long run.
Global Public Transportation Market By Geography
- Largest
- Fastest
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Public Transportation Market Dynamics
Drivers
Urbanization and Population Growth:
- The boom in global population growth and rising urbanization across the world are estimated to bolster the demand for affordable and efficient public transportation over the coming years to resolve mobility issues and reduce traffic.
Environmental Concerns:
- Using public transportation facilities allows commuters to have a lower impact on the environment as compared to those using private transport and increased consumer awareness regarding the same will favor market growth.
Restraints
Funding Constraints:
- Developing and maintaining a good public transportation network is a capital-intensive task and countries with limited budgets might have trouble in creating the same. This could substantially limit public transportation market development going forward.
Maintenance Challenges:
- Maintaining a public transportation infrastructure isn’t a cheap task and especially an aged infrastructure could put a notable burden on management authorities owing to the high costs of upgrades.
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Public Transportation Market Competitive Landscape
The global public transportation market is highly competitive owing to the presence of established as well as innovative new companies. Increasing investments in infrastructure development in developing countries are offering attractive growth scope for public transportation providers. Public transportation market players can leverage growing industrialization and urbanization to their advantage to boost their revenue generation in the long run. Market players can also focus on obtaining government contracts to improve their business potential on a global level. New companies can leverage ride-sharing and mobility-as-a-service (MaaS) trends to create new public transportation solutions and stand out in the global marketplace. Sustainability and digitization are projected to influence the future of the public transportation market and create a multitude of new opportunities for companies.
Top Player’s Company Profile
- Beijing Subway
- Transport for London (TfL)
- Hong Kong Mass Transit Railway (MTR)
- Metropolitan Transportation Authority (MTA)
- São Paulo Metrô (Metrô)
- Paris Métro
- Metro de Madrid
- New York City Transit
- Delhi Metro Rail Corporation (DMRC)
- Shanghai Metro
- Singapore Mass Rapid Transit (SMRT)
- Transport Corporation of India (TCI)
- Guangzhou Metro
- Seoul Metropolitan Subway
- New Jersey Transit (NJ Transit)
- Moscow Metro
- MTR Corporation
- Los Angeles County Metropolitan Transportation Authority (Metro)
Recent Developments
- In March 2023, as part of the EU’s Green Deal program to make the European Union carbon neutral by 2050, the European Union announced its plans to invest €100 billion in public transportation development over the next seven years.
- A $1 billion grant program was announced by the United States Department of Transportation to help cities and states improve their public transportation systems in April 2023.
- In May 2023, a plan to build 100 new intercity railways was announced by China's Ministry of Transport. The plan is part of China's efforts to improve its public transportation system and is expected to be completed by 2035.
- June 2023:
- In June 2023, in an effort to reduce carbon emissions and boost sustainability, India's Ministry of Railways announced a plan to electrify all of its railways by 2024.
Public Transportation Key Market Trends
- Sustainable Mobility Solutions: The looming threat of climate change is here and it has bolstered the demand for sustainable means of transportation. Integration of green technologies in public transportation is opening up new avenues of opportunities for public transportation market growth as governments around the world invest in electric trains and buses.
- Digitalization and Mobility Apps: The integration of digital technologies with public transportation is slated to improve access to public transport facilities. Easy payment and real-time tracking are some benefits that digitization brings to public transportation.
Public Transportation Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component type’s team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, the global public transportation market is forecasted to be driven by the growing availability of sustainable mobility solutions and increasing traffic congestion in urban cities around the world. High investments of governments in the development of advanced public transportation infrastructure and a rising emphasis on sustainable urban planning are also contributing to public transportation market growth. Evolving consumer preferences and expanding public transportation networks around the world are also creating new opportunities for public transportation providers going forward. However, high costs of development and maintenance of public transportation are projected to impede market growth in the long run. The rapidly expanding population base and growing urbanization are slated to catalyze demand for public transportation in the Asia Pacific region and allow it to hold a dominant share of the global marketplace. Integration of digital technologies and sustainable approaches are key trends that offer new opportunities for public transportation market players.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 218.19 billion |
| Market size value in 2031 | USD 652.37 billion |
| Growth Rate | 12.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Public Transportation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Public Transportation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Public Transportation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Public Transportation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Public Transportation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Public Transportation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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