With the emergence and long-term Impact of COVID-19, Global Public Transportation Market to reach USD 385.48 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Public Transportation Market is poised to raise up to USD 385.48 Billion by 2030. Public transport refers to a system of transit that is open to the public and is often run by the government or private businesses. It comprises of a variety of vehicles that are built to move lots of people quickly and affordably, including buses, trains, trams, subways, ferries, and occasionally even bicycles. The Public Transportation market is expanding because of factors such as increasing demand for public transit in megacities and rising development of smart cities.
Geographically, the global Public Transportation market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to the rising urbanization, rising population, and active participation of government and nonprofit organizations in the market space. Furthermore, Asia Pacific is the fastest growing region owing to factors such as the Governments of various countries in the region have announced tax exemptions and subsidies for purchasing electric buses to promote green transportation.
The global Public Transportation market is highly competitive owing to the presence of several key market players such as BC Transit Corporation, Berliner Verkehrsbetriebe, Deutsche Bahn, East Japan Railway Company, Keolis, Mass Transit Railway (MTR) Corporation, Metropolitan Transportation Authority, and others.
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Key findings of the study suggest:
- Global Public Transportation Market is anticipated to grow with a healthy growth rate of more than 7.6% over the forecast period 2023-2030.
- In the Distribution Channel segment, Offline emerged out as the leading market segment in 2022.
- In the Mode Type segment, Road emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth Owing to rising urbanization, rising population, and active participation of government and nonprofit organizations in the market space.
- Europe is expected to grow at higher rate followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Distribution Channel:
- Online
- Offline
Mode Type:
- Road
- Rail
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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