Public Transport market at a CAGR of 11.54% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published a cooked research report on the “global public transport market” that contains the information from 2019 to 2032. 

The global Public Transport market is estimated to register a CAGR of 5.57% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Public Transport market— Metropolitan Transportation Authority, Transport for London, MRT Corporation, Chicago Transit Authority, Madrid Metro, Massachusetts Bay Transportation Authority, The Washington Metropolitan Area Transit Authority, Seoul Metro, Bay Area Rapid Transit (BART), The San Diego Metropolitan Transit System and Others.

Market Highlights

The global Public Transport market is accounted for to register a CAGR of 5.57% during the forecast period and is estimated to reach USD 4,33,249.56 million by 2032.

Public transport is the worldwide market of transport services that includes different types of vehicles intended to transport people using the most convenient and the least expensive routes in urban, suburban, and rural zones. Public transport can be distinguished into buses, trains, subways, trams, and ferries all of which provides services for various population density and terrains. This sector has a significant function in the process of city construction and sustainable development, as well as substituting private car travel, easing traffic congestion, and controlling carbon emissions. The development of public transport systems is crucial to the ever-growing transport demand of growing population agglomerations and environmental concerns.

The global public transportation market at this point is experiencing dramatic shifts at the strategic level due to factors such as technological innovation, rapid urbanization, growing consideration for environmental conservation, and shifts in consumer preference. There is therefore a great correlation between the public transport market and the level of urbanization. ‘As people move to cities and the populations rise, there’s pressure to provide a strong public transport system. Another important factor affecting the market dynamic is the use of technology in the transport systems for the public. Technological advancements such as mobile ticketing, real time tracking and smart payment solutions are improving consumers satisfaction and organizational performance.

Access full report @ https://www.marketresearchfuture.com/reports/public-transport-market-8677

Segment Analysis

The global Public Transport market has been segmented based on Mobility, Propulsion, Ownership Type and End Use.

Based on Mobility, the global Public Transport market segmentation includes Bus, Tram, Train, Car Sharing, and Others. This segment is significantly dominated by “Bus” in the year 2023. The bus transport segment is one of the most popular and easily available segments of public transportation currently used in different countries. Buses transport both the urban and rural people, and are affordable means especially for the daily commuters.

Based on Propulsion, the global Public Transport market segmentation is Diesel, Gasoline, Electric, and Others. Diesel dominated the market in 2023 with the market value of USD 1,23,830.38 million. Diesel propulsion has been one of the most popular systems in public transport for many years. It is very popular with buses, trains and trucks which require high torque for the long distances they travel with heavy loads, and for their fuel economy.

Based on Ownership Type, the global Public Transport market segmentation includes Private Owned, and Public Owned. This segment is significantly dominated by “Private Owned” in the year 2023. Private operated public transport systems are those managed in the hands of private individuals, companies or organizations who are mainly involved with an intention to make profits. These services include large bus fleet operations, taxis, ride-hailing companies, and at times rail.

Based on the End Use, the global Public Transport market segmentation is Intracity, Intercity, and Others. In this segment Intracity had the largest market share in 2022. Intercity public transport is a type of transport that is used to transport people within a city or metropolitan region is called intra-city or urban or local public transportation.

Regional Analysis

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. The Asia-Pacific Public Transport market accounted for 34.58% in 2022. Asia Pacific public transportation has recorded tremendous growth over the past years due to the increasing growth of urban setting, expansion of the population, and increasing concern for the environment. The Asian countries like China, India, Japan, and Australia dominate the market as these countries have huge people living in urban areas and government policies to cut down green house emission. The public transport in the region is of different category which includes buses, rails, ferries and metros. Although, the bus and railway segment stand out since they have a broad coverage and are more affordable. Smart transport technologies are being adopted by governments globally to deliver better customer satisfaction, cost effective solutions and security.

Key Findings of the Study

• The global Public Transport market is expected to reach USD 4,33,249.56 million by 2032, at a CAGR of 5.57 % during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market.


• Metropolitan Transportation Authority, Transport for London, MRT Corporation, Chicago Transit Authority, Madrid Metro, are the key market players.