The global public transport railways market is anticipated to grow at a CAGR of 5.1 % during the forecast period (2022-2028). The fast-moving urban couple with local travel needs, increased demand for passengers and goods, an increase in the number of railway projects across the globe, and changes in passenger payment practices are expected to further drive the growth of the public transport railways market. However, the high installation costs and changes to the existing system infrastructure are expected to delay market growth during the forecast period.
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The changes in passenger visibility and contracts with train operators to expand the business are expected to provide wage opportunities to the market during the forecast period. The proliferation of improved public transport infrastructure and smart transport solutions and the ability to save time and money are also key factors in speeding up market growth. The increase in urban population and the simpler and easier ways to move this population from one place to another along with the growing field of communications and information is expected to reduce market growth over the predicted period. The growing demand for higher investment will also limit the growth of the market over the aforementioned forecast period.
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In addition, the growing awareness of public transport and the development of an intelligent transport system provide various opportunities for market growth in the forecast period. The city commuters are more likely to travel by train, as it serves as a long-term route to avoid unnecessary traffic. The increasing reliability of urban commuters on the daily railway has a significant impact on the growth of the public transport railways market. Most urban commuters are experiencing problems with real-time mode information, length of commute, and safety during regular train rides, which impedes passenger performance. The public transport railways enable real-time train information, easy operation of the train, and easy payment. The increase in the daily use of commuter rail in urban areas and changes in passenger digital views are expected to stimulate the need for a public transport railways market during the forecast period.
Some major players in the market include SMRT, SBS Transit, Prasarana Malaysia Berhad, KTMB, and MRT Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in March 2022, Indian Railways launched the third Vande Bharat Express Train. The shells of at least five Vande Bharat Express trains are in the final stages of completion.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- SMRT, SBS Transit, Prasarana Malaysia Berhad, KTMB, and MRT Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Public Transport Railways Market Report by Segment
By Type
- Bus
- Heavy Rail
- Light Rail
- Others
By Application
- City
- Rural
Global Public Transport Railways Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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