Latest News- Public Transportation Market: Bus is expected to lead the Type segment during 2025-2029

The Public Transportation Market is being driven by Increasing domestic trips for public transportation

The Public Transportation Market is expected to grow at a CAGR of 6.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 110.9 billion. The hyperloop transportation system, a cutting-edge intercity surface transport solution, is gaining significant traction due to the escalating demand for swift commuting options. This innovative technology comprises capsule-like vehicles or pods that glide inside vacuum-sealed tubes at reduced air pressure. With a top velocity of approximately 600 mph, hyperloop is poised to become the fastest mode of transportation. The vacuum-sealed tubes, which eliminate air friction, enable pods to travel at remarkable speeds and with optimal propulsion. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Bus
  • Metro
  • Suburban rail
  • Light rail transit
• Distribution Channel
  • Offline
  • Online
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing domestic trips for public transportation
• Increasing emphasis on vehicular emission reduction
• Rising demand for mobility as a service (MaaS)

However, the market also witnesses some limitations, which are as follows:

• Availability of alternatives
• High infrastructure maintenance costs
• Congestion and longer commuting of public transport

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Market Scope in Public Transportation Market Research Report

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Research Analysis Overview

The mass transportation sector is experiencing significant growth due to urbanization and increasing population. Public transportation systems, including buses, subways, taxis, auto rickshaws, and rail transportation, are essential in addressing traffic congestion and environmental concerns. Electric buses, hybrids, and green technologies are prioritized to reduce greenhouse gas emissions and improve air quality. Smart cities and digitization are transforming transportation through mobile apps, third-party platforms, and high-speed trains. Ride-sharing and digitalization further enhance mobility and travel comfort.

Market Research Overview

The global passenger ground transportation market encompasses businesses involved in passenger transportation services and related sectors, such as bus, taxi, vehicle rental, ridesharing platforms, and other passenger logistics. According to Technavio's market analysis, the market size is determined by the consolidated revenue generated by enterprises operating within the passenger land transportation industry, including vehicle leasing, ridesharing, on-demand ride-sharing platforms, and additional passenger logistics. Key growth drivers for the passenger ground transportation market include the surge in disposable income and the increasing availability of self-driving car rentals, which have significantly influenced travel patterns. Urbanization, population growth, and environmental concerns are additional factors fueling market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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