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Public Transportation Market Size, Share, and COVID-19 Impact Analysis, By Distribution Channel (Online and Offline), By Mode (Road and Rail), By Application (Urban and Rural), and Forecast, 2024-2032

Region :Global | Report ID: FBI108051 | Status : Ongoing

 

KEY MARKET INSIGHTS

The public transportation service market consists of companies, corporations, and agencies that provide transportation services to regional and local passenger transportation systems with fixed schedules and routes. Public transportation provides easier and more convenient travel methods for the rising urban population, intelligent transportation solutions to save time and money, and government initiatives to improve public transportation services coupled with the inclining preference of the populace towards the economic options of transportation are anticipated to drive the market growth in years to come. However, Safety & security is a major concern in a public rides. Heavy investments required to improve existing transport and build new transport infrastructures may hamper the market growth.


Impact of COVID-19 on the Global Public Transportation Market


Covid-19 negatively impacted the economy and the global public transportation market. Strict social distancing regulations, the companies took initiatives such as working from home to decrease the spread of the virus, and decreased government investment in infrastructural development for public transport hampered the market growth during the pandemic. Moreover, due to health concerns populace prefer to maintain social distancing, which further affected the adoption of public transport during the pandemic. Various public transportation agencies had to shut down their operations due to the pandemic.

However, during the post-pandemic period, the removal or relaxation of COVID-19 guidelines by the governments accelerated the market growth. The challenges are overcome by enhancing sanitization, improving ventilation, implementing social distancing, mandatory mask-wearing guidelines, and executing contactless payment.

Key Insights


The report will cover the following key insights:


  • Latest Developments.

  • Porter's Five Forces Analysis.

  • Technological Developments.

  • Impact of COVID-19 on the Global Public Transportation Market.


Analysis by Distribution Channel


The offline segment dominated the market in 2022. Offline booking and payment methods in public transportation have been part of the system for a long time. Therefore, various age groups still prefer to adopt offline booking of public transportation services. For instance, various underdeveloped and developing economies, such as India, Brazil, and others, prefer this distribution channel. Several travelers and market players use offline distribution channels for ticketing public transport in these regions.

The online segment is expected to witness the fastest growth rate during the forecast period. An increasing number of online portals to book public transport tickets to provide convenient booking to consumers fueled the segment growth. Moreover, the preference of the populace towards the contactless payment methods offered by online distribution channels further propelled the segment's growth. Several governing authorities have implemented digital transformation strategies, including deploying smart solutions and advanced online platforms to reduce traffic congestion. All these factors are expected to drive the adoption of online distribution channels in years to come.

Analysis by Mode


The road segment dominated the market in 2022 and is likely to continue its dominance throughout the forecast period. Expanding road networks, availability of various fuel stations, and use of roadways for short-range commutes are some of the factors driving the segment's growth. Moreover, the government's focus on expanding BRT (bus rapid transit) systems for economical, reliable, and speedy transport are likely to drive the segment growth in upcoming years.

The rail segment is anticipated to register the fastest growth rate over the forecast period. Increasing expenditure and investments in emerging economies for railway transportation infrastructural development are expected to boost segment growth. For instance, various metro, light rail, and local train transport have been under construction in India, China, Japan, and others. The adoption of these rail networks by consumers for intercity or long routes is projected to accelerate segment growth.

Analysis by Region


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Asia Pacific dominated the market in 2022. The rising population in major economies such as India, China, and others has fueled the demand for efficient public transport in the region. Additionally, substantial government investment in road network development and railway infrastructural development are projected to drive market growth in the region. Moreover, increasing pollution levels and their adverse effects on the environment are influencing the populace to use public transport instead of private vehicles. Furthermore, the tax exemptions and subsidies announced by governments of various countries in the region for purchasing electric buses to promote green transportation is fueling the electrification of public transport, driving the growth of the Asia Pacific market.

North America held a significant market share in 2022. The increasing government focus on the electrification of public transport coupled with the government focus on offering affordable and accessible public transportation facilities in the region are anticipated to boost the market growth during the forecast period. For instance, in June 2022, the Federal Railroad Administration announced a grant program, Consolidated Rail Infrastructure and Safety Improvements, worth USD 368 million to fund 46 projects in 32 states and the District of Columbia. These investments were made to modernize the region's rail infrastructure and support the supply chains. Therefore, improving the market's growth in the region.

Key Players


Transport for London (TfL) (UK), Berliner Verkehrsbetriebe (Germany), TOBU RAILWAY Co. LTD (Japan)., Mass Transit Railway (MTR) (China), BC Transit Corporation (Canada), Deutsche Bahn (Germany), East Japan Railway Company (Japan), and  Keolis (France).

Segmentation

















By Distribution Channel By Mode  By Application By Region

 

Online

 

Offline


 

 

Road

 

Rail

 

 

Rural

 

Urban

North America (U.S., Canada, and Mexico)Europe (U.K., Germany, France, and Rest of Europe)Asia Pacific (India, China, Japan, South Korea, and Rest of Asia Pacific)Rest of the world

 

Key Industrial Developments



  • April 2023: Germany launched 'Deutschland-Ticket' or 'D-Ticket,' a nationwide public transport monthly ticket of USD 53.3. It was valid on local and regional transport throughout the country. Customers can pre-purchase them on Deutsche Bahn's website and app and from transport companies across Germany.

  • June 2023: Caltrain started the testing of its first electric trains. The electric trains will begin service in the fall of 2024 and will cover feature such as displays with digital trip information, increased storage capacities, Wi-Fi, and power outlets at every seat.





  • Ongoing
  • 2023
  • 2019-2022

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