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

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).

The 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 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 marketplace. Sustainability and digitization are projected to influence the future of the public transportation market and create a multitude of new opportunities for companies. 'Beijing Subway', 'Transport for London (TfL)', 'Hong Kong Mass Transit Railway (MTR)', 'Metropolitan Transportation Authority (MTA)', 'Tokyo Metro', 'São Paulo Metrô (Metrô)', 'Paris Métro', 'Chicago Transit Authority (CTA)', '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)'

The boom in 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.

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.

The Asia Pacific region accounts for a prominent share of the 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.