ID: MRFR/AM/7205-CR | 134 Pages | Published By Sejal Akre on October 2020
Public Transport Market is projected to be worth USD 1100 Billion by 2030, registering a CAGR of 6% during the forecast period (2022-2030)
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.
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.
- 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.
- 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.
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.
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.
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.
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),
Report Attribute/Metric | Details |
Market Size 2030 | USD 1100 billion |
Compound Annual Growth Rate (CAGR) | 6% (2022-2030) |
Base Year | 2021 |
Market Forecast Period | 2022-2030 |
Historical Data | 2018 & 2020 |
Market Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product Type, Application, and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
Key Companies Profiled | 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 Dynamics | Shifting consumer preferences towards carpooling, railway transport, ridesharing, 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\r\n 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. |
The growth of the global public transport market research is approximately enhanced by an 6% CAGR during the forecasted period.
By the end of 2030, the market will enhance by USD 1100 Billion With 6% 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.