Public Transport Market Research Report - Global Forecast till 2027

Public Transport Market Research Report: Information by Type (Bus, Light Rail, Regional Taxi, Metro and Tram), Application (City and Rural) and Region - Forecast till 2027

ID: MRFR/AM/7205-CR | October 2020 | Region: Global | 134 pages

Public Transport market Overview


Public Transport Market is projected to be worth USD 1100 Billion by 2027, registering a CAGR of 6% during the forecast period (2021 - 2027)


Global public transport is forecasted to have a steady growth in the coming years. Rising growth in the share of the urban population with the increasing population and demand in the cities to have the efficient and the public facilities of transport is added the fuel to the market. All these factors will lead to the growth of the global public transport market in various regions during the estimated period.


Europe acquired the second-largest share of the market in the year 2018. The primary reason for this is to prevent traffic and to control the emissions from private vehicles. And the rapid investments in the expansion of the public transports. The connecting Europe facility is working with the EU for the development of the European transport infrastructure. it has a total budget of USD 26.8 billion. It will help in the investments of the new building infrastructure or upgrade the old ones. This will lead to the sustainable growth of the public transport market. The growth of the global public transport market research is approximately enhanced by an 8.11% CAGR during the forecasted period. The growth of the global public transport market is due to the development in the infrastructure of public transport to prevent the congestion of the traffic and to control the emissions from public vehicles. 


COVID-19 Analysis:


The pandemic has hit our life badly and the economy has suffered a huge loss. If we talk about the industries the demand for the expensive products slashed badly but we are on the verge of the recovery process, with the cost-effective measures send effective implementation of strategies the condition will get improved. 


Various analysts are researching over the market insights and expertise are working upon the reports to help the client with various reports of other industrial vehicles.


Market Dynamics:


Drivers:


- Shifting consumer preferences towards carpooling, railway transport, ride-sharing, air transport, bus transport.


- Rise in urban population and easier and convenient ways for this population to travel from one place to other.


- Shifting focus of much raw material supplying industries to distribute their goods using public transport.


- Growing communication and information sector


- Government's initiatives to improve public transport infrastructure to attract more users towards it.


- Public transport offers intelligent transport solutions to save time and money.


- Growing awareness of public transport in all industries.


Challenges:


- Security is one of the major concerns related to the public ride.


- Requirement of high capital investment to improve existing transport and build new efficient transport facilities. 


Value Chain Analysis:


The value chain analysis of public transport is based on the market's strategic growth analysis, category market growths, application niches, application dominance, product launches, technological innovations, market regulations, market size, product approvals, and geographic expansions.


Both the demand and supply of the global public transport Market are increasing day by day. The net worth of this sector has enhanced drastically due to advancements in the public transport facilities and to save the time from the traffic plus to protect the emission from the private vehicles and the increasing developments in the public transport facilities in various regions are the reasons behind the growth of the global public transport. 


Segment Overview: 


 Based on type:



  • Bus

  • light rail

  • regional taxi,

  • metro 

  • Tram


Based on application:



  • city 

  • Rural.


Regional Analysis:


South America and the middle east Asia which is included in the rest of the world have witnessed amazing growth in recent years, with the focus on limiting emissions and rapid development in the public transport region with the curtailment of the use of private vehicles are some of the reasons behind the growth of this market. if we talk about the South American market which includes Argentina, Peru, Chile, Columbia. We have witnessed the growth in public bus transport infrastructure by the government of Argentina. A loan of USD 45 million has been approved by the world bank to support various infrastructure projects. These investments are likely to drive the growth of global public transport during the forecasted period.


Competitive landscape:


The competitive landscape of the global Public transport market is studied and complied based on quantitative and qualitative data by industrial experts and analysts highlighting company overview, revenue generated, research and development, regional presence, product launch, application dominance, company financials, market potential, new market initiatives, company strengths, company weaknesses, product width, and product breadth.


 The eminent players of the global public transport market are Seoul Metro (South Korea), Transport For London (UK), The San Diego Metropolitan Transit System (US), MTR Corporation (Hong Kong), Metropolitan Transportation Authority (US), Chicago Transit Authority (US), Bay Area Rapid Transit (BART) (US) Massachusetts Bay Transportation Authority (US),


Study objectives:



  • To bestow the detailed analysis of the market structure with the estimation of the coming 5 years and its various segments and the sub-segments. 



  • To bestow the detailed analysis of the market inside the structure and the factors affecting the growth.



  • To determine the historical and the forecast revenue of various segments and the related regions. 



  • To bestow the country-level analysis of the market concerning the future prospective. 



  • To study the strategic profiling of the eminent players and analyzing their core strategies.



  • To determine the competence elements like mergers and acquisitions research developments and new product developments.  


Recent developments:



  • With the introduction of mobility hubs, with a variety of travel options to face the mile challenges and to give a smooth travel experience.



  • Development of high speed, capacity, and the frequency network which included the various modes of transit and advancement in the existing ones 



  • Tp provides the benefits like reduced traveled time. improvements in the traffic congestions, authorize the dynamic policymaking artificial intelligence enables by the transport ecosystem. 



  • Anchorage technology, connectivity, and sensors are connected to change the roads used and managed.



  • The global public transport based on application has been segmented into city and rural areas. With the expansion of cities, various competitors are entering the market which has given a major boost to the growth of the market.



  • The government from all over the world started investing in modern public transportation like metros, light trains which will help in reducing the pollution and to cope up with the increasing population in the cities.



  • The rise in the global population and increasing urbanization are the driving fuels for the expansion of the public transportation systems. 


Report overview:


The growth of the global public transport market research is approximately enhanced by an 8.11% CAGR during the forecasted period. In the wake of covid 19 crises, the expertise is trying to handle the situation by researching over various strategies opted by the other industrial vehicles so that a market insight has been given to the client and help them to deal with the stress of covid 19 pandemics. 


The Asia Pacific is expected to grow at the highest rate in the forecasted period. The rising population in the region with the development in the public transport facilities coupled with the expansion of the cities are the primary reasons. South America and the middle east Asia which is included in the rest of the world have witnessed amazing growth in recent years, with the focus on limiting emissions and rapid development in the public transport region with the curtailment of the use of private vehicles behind the growth of the global public transport market in the Asia Pacific region.


 With the eminent key players and the expansions of cities with increasing investment in the public transport facilities with the need to curb the traffic and to protect the emission form, the private vehicles are some the factors which added the fuel to the global public transport. Recent developments through artificial intelligence and the encouragement to develop the modern public transportation system to cope with the increasing population coupled with the expansion of the cities are said to be the reason behind the global public transport. 



Report Scope:
Report Attribute/Metric Details
  Market Size   1100 billion
  CAGR   6% of CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Seoul Metro (South Korea), Transport For London (UK), The San Diego Metropolitan Transit System (US), MTR Corporation (Hong Kong), Metropolitan Transportation Authority (US), Chicago Transit Authority (US), Bay Area Rapid Transit (BART) (US) Massachusetts Bay Transportation Authority (US)
  Key Market Opportunities   Recent developments through artificial intelligence and the encouragement
  Key Market Drivers

  • Shifting consumer preferences towards carpooling, railway transport, ride-sharing, air transport, bus transport.\r\n
  • Rise in urban population and easier and convenient ways for this population to travel from one place to other.\r\n
  • Shifting focus of much raw material supplying industries to distribute their goods using public transport.\r\n
  • Growing communication and information sector\r\n
  • Government's initiatives to improve public transport infrastructure to attract more users towards it.\r\n
  • Public transport offers intelligent transport solutions to save time and money.\r\n
  • Growing awareness of public transport in all industries.


  • Frequently Asked Questions (FAQ) :


    The growth of the global public transport market research is approximately enhanced by an 8.11% CAGR during the forecasted period.

    By the end of 2027, the market will enhance by USD 1352.7 Billion With 8.11% of CAGR

    The eminent players of the global public transport market are Seoul Metro (South Korea), Transport For London (UK), The San Diego Metropolitan Transit System (US), MTR Corporation (Hong Kong), Metropolitan Transportation Authority (US), Chicago Transit Authority (US), Bay Area Rapid Transit (BART) (US) Massachusetts Bay Transportation Authority (US),

    It makes huge investments in the R and D, it has an experience of many years in providing the transport facilities and fund for the infrastructure development.

    City and rural areas the primary applications covered by the global public transport market report.