PUBLISHER: The Business Research Company | PRODUCT CODE: 1680384
PUBLISHER: The Business Research Company | PRODUCT CODE: 1680384
Transit and ground passenger transport encompass a transportation service facilitating the movement of passengers, offering a diverse range of passenger transportation services. These services include urban transit systems, high-speed rail systems, chartered buses, school buses, and interurban bus transportation.
The primary categories within the transit and ground passenger transport market comprise commuter rail and public bus services, taxi and limousine services, school and employee bus services, charter bus services, and other transit and ground passenger transportation. School and employee bus services play a crucial role in transporting students to and from schools and employees to and from offices, utilizing buses and other motor vehicles. The market segmentation is based on distance, distinguishing between long-distance and short-distance, and destination, categorizing into domestic and internation
The transit and ground passenger transport market research report is one of a series of new reports from The Business Research Company that provides transit and ground passenger transport market statistics, including transit and ground passenger transport industry global market size, regional shares, competitors with a transit and ground passenger transport market share, detailed transit and ground passenger transport market segments, market trends and opportunities, and any further data you may need to thrive in the transit and ground passenger transport industry. This transit and ground passenger transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The transit and ground passenger transport market size has grown strongly in recent years. It will grow from $787.33 billion in 2024 to $862.64 billion in 2025 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to rapid urbanization, aging population, lifestyle changes and increased safety threats, technology development, low oil prices and low interest rate environment.
The transit and ground passenger transport market size is expected to see strong growth in the next few years. It will grow to $1183.04 billion in 2029 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to the rising population, emphasis on cutting carbon emissions, technological advancements and increasing number of corporates and new educational institutes will drive the growth. Major trends in the forecast period include integrating advanced services, installing hybrid buses, integrating usb, wi-fi and large screen display services, implementing enhanced safety features, running electric buses to reduce carbon emissions, integrating advanced technology, use of app-based services, offering bike-taxi services, offering eco-friendly electric cab services and implementing big data analytics tools.
The growth of the transit and ground passenger transportation markets is supported by the stable economic growth projected in many developed and developing nations. Economic growth boost refers to a phase of rapid expansion within an economy, marked by increases in essential economic indicators such as GDP, employment, investment, and consumer spending. Accelerated economic growth stimulates the transit and ground passenger transport sector by enhancing consumer spending and demand for commuting, while also facilitating infrastructure investments and the implementation of advanced transport technologies. Furthermore, it fosters job creation, business travel, and tourism, thereby increasing market demand. For instance, in January 2024, the US Department of Commerce reported that the Bureau of Economic Analysis (BEA) recorded a 3.3% annual increase in real GDP for the fourth quarter of 2023, exceeding expectations. This growth was fueled by increased consumer spending and job creation, with 2.7 million jobs added over the year. Consumer confidence remained strong, as retail sales rose by 4.9% (excluding autos and gas). Inflation-adjusted disposable personal income increased by 4.2%, and the personal savings rate rose to 4.5%. Compared to the previous year, real GDP climbed by 3.1%, up from 0.7% in 2022. Therefore, accelerated economic growth is driving the transit and ground passenger transport market.
The growing demand for ride-sharing services is anticipated to drive the growth of the transit and ground passenger transportation markets. Ride-sharing services act as platforms connecting individuals in need of rides with drivers utilizing their own vehicles for transportation. These services complement transit and ground passenger transportation by providing crucial first- and last-mile connectivity. This integration facilitates easier access to and utilization of ride-sharing options, ultimately enhancing overall mobility and transportation efficiency. For example, in March 2023, searches for vehicle sharing in the United Kingdom experienced a significant surge in 2022, with a notable 21.91% increase compared to 2021, as reported by the Driving Instructors Association, a UK-based independent association. Consequently, the escalating demand for ride-sharing services is a driving force behind the transit and ground passenger transportation markets.
The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the transit and ground passenger transportation markets in 2020 as governments imposed lockdowns and restricted the movement of people and goods to contain the transmission. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity, with countries entering a state of 'lock down' and harming businesses throughout 2020 and into 2021. However, the transit and ground passenger transportation markets have started recovering from the shock.
Companies are actively embracing electricity as a power source for buses to mitigate carbon emissions and reduce operational costs. Solar buses utilize electric batteries, which, in certain instances, are charged through solar panels installed on the bus's roof. This enhances the vehicle's fuel efficiency and prolongs the lifespan of lithium batteries. Moreover, the technology incorporates low-maintenance components, enabling companies to achieve cost savings. A notable example is Shenzhen in China, where the entire fleet of 16,000 buses has been successfully converted to run solely on electricity. This conversion was facilitated by installing solar panels on bus parking roofs to facilitate charging facilities. Key players in the manufacturing of electric buses include Kiira Motors, BYD Company, Heilongjiang Qiqiar New Energy Automobile Co., Ltd., Bauer's Intelligent Transportation, Yutong, and Volvo buses.
In June 2023, National Express Group PLC, a UK-based public transport operator, collaborated with Liftango to introduce Trio, an innovative passenger transport technology poised to revolutionize the landscape of shared mobility solutions. This solution amalgamates the extensive transport management expertise of National Express Transport Solutions with Liftango's data-driven technology platform encompassing demand-responsive transport (DRT) technology, passenger applications, and management information. Trio employs advanced modeling techniques to analyze travel patterns and address transportation inequalities, delivering a customized solution with sustainability as its core focus. Liftango Pty Ltd. is an Australia-based provider of sustainable, shared, and convenient transport, offering on-demand shared transport systems globally.
Major companies operating in the transit and ground passenger transport market include Uber Technologies, Inc., Didi Chuxing Technology Co, Keolis, FirstGroup Plc, Metropolitan Transportation Authority, TRANSPORTE BRASILEIRO LTDA, Nihon Kotsu, Madrid Metro, MAILCAR S.R. L, Prague Taxis, Grupo CHAPIN, Oga taxi, Gett, Stabus, Yandex., Chauffeur Prive, Bolt, Ashflex School Bus Services Limited, Golden Arrow Bus Services, The Coach People, Taxify, National Express Group, Intercape, EL CONDOR EMPRESA DE TRANSPORTE E.T. S. A, Santa Clara Valley Transportation Authority, Dresdner Verkehrsbetriebe, Cook-Illinois Corporation, Littele cabs, First Travel Solutions, Transdev North America Inc., Munchner Verkehrsgesellschaft, Hamburger Hochbahn, Budapesti Kozlekedesi Kozpont (BKK), PUTCO, tefano's RomeCabs, Yellow Bus Ghana, Cabify, Africa Ride, GSP Belgrade, Transport For London, Guangzhou Metro, Domenico's Airport Transfers, Transportation Charter Services, The Free Enterprise System, First Student, Royal Coach Tours, StorerCoachways, Transportes Del Tejar S. A, DATTCO Inc, The Port Authority of New York & New Jersey, Northfield Lines, Arrow Stage Lines, Rohrer Bus, All Board School Transportation, Student Transportation of Canada, TransLink wins, Zagrebacki elektricni tramvaj, Metro-North Commuter Railroad Co Inc, School Transport Services, Charter House, BATaxi, MK Chauffeur Drive, Washington Metropolitan Area Transit Authority, Velocity Buses Transportation, Emirates Transport Center, Columbia Transit Corp, Chicago Transit Authority (CTA), Xiaoche001, Energos Services India Pvt. Ltd., Employee Transport Services (ETS) LLC, Dubai Taxi Corporation, Yookoo rid, Beijing¬-tianjin, Grab Holdings Inc., Rome Chauffeur, Rainbow Coaches, LeCab and MyTaxi, Rea Vaya, Stagecoach Group, Arriva, Ola Cabs, Lyft, Inc.
Asia-Pacific was the largest region in the transit and ground passenger transport market in 2024. Western Europe was the second largest region in the transit and ground passenger transport market. The regions covered in the transit and ground passenger transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the transit and ground passenger transport market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The transit and ground passenger transport market includes revenues earned by entities by reducing congestion appearing during travel, increasing land value, reducing costs, and reducing carbon emissions emitted by vehicles. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Transit And Ground Passenger Transport Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on transit and ground passenger transport market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for transit and ground passenger transport ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The transit and ground passenger transport market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.