Dublin, Jan. 26, 2023 (GLOBE NEWSWIRE) — The “Global Public Transportation Market Size, Share & Industry Trends Analysis Report by Mode Type (Road, Rail and Others), Ticket Distribution Channel (Offline and Online), Regional Outlook and Forecast, 2022-2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Public Transportation Market size is expected to reach $285.7 billion by 2028, rising at a market growth of 5.4% CAGR during the forecast period.
Public transit, Public transport also referred to as public transportation, mass transit, or simply transit is a transportation system for passengers by group travel systems available to the general public, as opposed to private transport, which is typically managed on a schedule, operated along established routes, and charges a posted fee per trip. City buses, trolleybuses, trams (or light rail) and passenger trains, fast transit (metro/subway/underground, etc.), and ferries are examples of public transportation.
Intercity transportation is dominated by airplanes, motor coaches, and intercity rail. In several regions of the world, high-speed rail networks are being constructed. The majority of public transportation systems operate on fixed routes with predetermined boarding and disembarking sites and according to a predetermined schedule, with the most frequent services adhering to a headway.
However, the majority of public transport journeys involve other modes of transportation, such as people walking or utilizing bus services to reach railway stations. In many regions of the world, share taxis offer on-demand services that may compete with permanent public transport lines or complement them by transporting customers to interchanges. Paratransit is occasionally employed in low-demand regions and for those who require door-to-door service.
Most public transport systems are operated by profit-driven, privately owned, and publicly traded mass transit and real estate corporations. Most local transportation administrations in North America operate mass transit services. Due to geographical, historical, and economic factors, the use and scope of public transportation vary widely.
COVID-19 Impact Analysis
During the most severe public health catastrophe caused by the new coronavirus pandemic, governments throughout the world have shut down public transportation systems. In addition, stringent social distance constraints have slowed the expansion of public vehicles.
As transmission rates increase in populated areas, public transportation will continue to decline shortly. Moreover, measures by groups such as working from home to prevent the spread of COVID-19 will further constrain the demand for public vehicles. Infrastructural development for public transport vehicles would be halted for a time owing to decreased government spending around the 0 as a result of the pandemic’s economic impact.
Market Growth Factors
Increasing Megacity Demand For Public Transportation
In recent decades, the flow of people into urban regions and the rise of urban and metropolitan areas have increased dramatically. The growth of the market is attributable to the expansion of infrastructure and the advancement of technology. To address the demand for public transportation in megacities, several governments are building BRT, metro, monorail, and light rail transit systems.
Enhances Fuel Economy And Public Transportation’s Capacity To Reduce Air Pollution
The capacity to outfit buses and other public vehicles with alternative fuel sources is one of the biggest technological advantages of public transportation. Some systems are entirely electric or fueled by renewable energy. Even relative to other gas-powered vehicles, the fuel economy of public transit is superior. Reduced gasoline use improves air quality in cities with integrated public transportation. Approximately 85 percent of transportation-related greenhouse gas emissions are caused by daily commutes.
Market Restraining Factors
Increasing Preference For Passenger Cars And Motorcycles
The increasing preference of commuters for passenger cars and two-wheeled vehicles are impeding the growth of the industry. In emerging nations,two-wheeled carts are the principal form of transportation for middle-class citizens. In addition, political regimes that are prejudiced against investments in public transportation. The distribution of Covid-19 had a significant influence on the growth of the public transportation industry.
|No. of Pages||136|
|Forecast Period||2021 – 2028|
|Estimated Market Value (USD) in 2021||$199260 Million|
|Forecasted Market Value (USD) by 2028||$285660 Million|
|Compound Annual Growth Rate||5.4%|
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
18.104.22.168 Market Composition & Scenarios
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Public Transportation Market by Mode Type
3.1 Global Road Market by Region
3.2 Global Rail Market by Region
3.3 Global Others Market by Region
Chapter 4. Global Public Transportation Market by Ticket Distribution Channel
4.1 Global Offline Market by Region
4.2 Global Online Market by Region
Chapter 5. Global Public Transportation Market by Region
Chapter 6. Company Profiles
6.1 BC Transit Corporation
6.1.1 Company Overview
6.1.2 Financial Analysis
6.2 Transport International Holdings Limited
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental Analysis
6.3 Brussels Intercommunal Transport Company
6.3.1 Company Overview
6.3.2 Financial Analysis
6.4.1 Company Overview
6.4.2 Financial Analysis
6.4.3 Recent Strategies and Developments
22.214.171.124 Partnerships, Collaborations, and Agreements
6.5 Transdev Group SA (Caisse des Depots et Consignations)
6.5.1 Company Overview
6.5.2 Financial Analysis
6.5.3 Regional Analysis
6.5.4 Recent Strategies and Developments
126.96.36.199 Partnerships, Collaborations, and Agreements
6.6 Tobu Railway Co., Ltd.
6.6.1 Company Overview
6.6.2 Financial Analysis
6.6.3 Segmental Analysis
6.6.4 Recent Strategies and Developments
188.8.131.52 Product Launches and Product Expansions
6.7 Trenitalia c2c Limited
6.7.1 Company Overview
For more information about this report visit https://www.researchandmarkets.com/r/6gqfjg-public?w=12
- Global Public Transportation Market