Public Transportation Market size is set to grow by USD 100.39 bn from 2024-2028,increasing domestic trips for public transportation boost the market- Technavio

NEW YORK, April 8, 2024 /PRNewswire/ -- The global public transportation market  size is estimated to grow by USD 100.39 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 6.13%  during the forecast period.  The global public transportation market is thriving due to the rising preference for domestic trips using efficient systems. Urbanization and population density necessitate modern public transportation. Traffic congestion, environmental concerns, and cost-effectiveness drive individuals to use buses, trains, trams, and other systems. Government initiatives and investments in infrastructure and modernization fuel growth. Key players include auto-rickshaws, passenger vehicles, two-wheelers, road sections, rail transportation, and more. Sustainable options like electric buses and hybrid technologies are prioritized. 

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Segment Overview 

This public transportation market report extensively covers market segmentation by Type (Bus, Metro, Suburban rail, Light rail transit) Distribution Channel (Offline, Online) Geography (APAC, North America, Europe, South America, Middle East and Africa)

Market segmentation by Type

The public transportation market encompasses various modes, including Auto-rickshaws, passenger vehicles, and two-wheelers for intracity travel. Road sections host buses, trams, and taxis, complementing rail transportation via trains and subways for intercity rail travel and ferries. MaaS systems integrate these options, facilitating seamless travel. Diesel and gasoline-powered vehicles contribute to greenhouse gas emissions and traffic congestion, necessitating the adoption of hybrid technologies and electric vehicles, such as electric buses and cable cars. Intelligent transportation systems and freight logistics optimize mass transportation, reducing environmental impact and improving air quality.

Geography Overview

The public transportation market in APAC is experiencing significant growth, driven by the region's expanding urban population and the need for efficient transportation solutions. This includes various modes such as Auto-rickshaws, Passenger vehicles, and Two-wheelers, as well as Rail transportation through Buses, Trains, and Trams. MaaS systems are also gaining popularity, integrating various modes of transport to provide seamless travel experiences. The shift towards sustainable transportation is evident, with the adoption of Electric buses and Hybrid technologies to reduce Greenhouse gas emissions and improve Air quality. Road congestion remains a challenge, leading to the exploration of alternative transportation methods like Ferries, Cable cars, and Subways. Private vehicles continue to contribute to traffic and emissions, making Public transportation an attractive alternative. Intracity public transport and Intercity rail travel are essential components of the public transportation system, with Rail transport playing a crucial role in reducing traffic and improving overall efficiency. Intelligent transportation systems and Freight logistics are also being integrated into the public transportation network to optimize operations and reduce environmental impact. 

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• The public transportation market encompasses various modes, including buses, trains, trams, and subways. Hyperloop, a new technology, emerges as a potential game-changer. This high-speed system uses vacuum-sealed tubes for pods, reaching up to 600 mph, surpassing traditional buses, trains, and trams. Hyperloop's low air pressure and efficient propulsion reduce friction and greenhouse gas emissions, improving air quality.
• The public transportation market faces challenges from e-bikes due to their increasing affordability and environmental benefits. Driven by declining battery prices and rising awareness, e-bikes offer advantages such as reduced space usage and zero emissions. China's battery manufacturing base contributes to cost reduction, making e-bikes a viable alternative to traditional vehicles like buses, trains, and taxis. The electrification trend in the automotive industry further boosts e-bike adoption.

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Research Analysis

The Public Transportation Market encompasses various modes of intracity and rail transport, including buses, trains, trams, subways, taxis, auto-rickshaws, and hybrid or electric buses. These modes aim to alleviate traffic congestion and reduce greenhouse gas emissions, contributing significantly to improved air quality in urban areas. The market for public transportation is expanding, with a focus on hybrid technologies and the integration of MaaS (Mobility as a Service) systems. The bus segment, in particular, is witnessing a shift towards electric and alternative fuel vehicles, such as diesel and gasoline hybrids, to reduce dependence on traditional fossil fuels. The adoption of these sustainable transportation solutions is crucial in mitigating the environmental impact of passenger vehicles, two-wheelers, and other road sections.

Market Research Overview

The Public Transportation Market encompasses a range of services and technologies designed to facilitate the movement of people from one location to another efficiently and affordably. This market includes buses, trains, trams, and subways, among other modes of transportation. The use of technology in public transportation is a significant trend, with features such as real-time vehicle tracking, contactless payment systems, and mobile apps becoming increasingly common. The market is driven by factors such as urbanization, population growth, and the need to reduce carbon emissions. Additionally, the implementation of government policies and regulations, as well as private investments, plays a crucial role in shaping the public transportation landscape. The future of public transportation lies in the integration of advanced technologies and the provision of personalized, convenient, and sustainable mobility solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Bus
• Metro
• Suburban Rail
• Light Rail Transit
• Distribution Channel
• Offline
• Online
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio