PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326563
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326563
Global Public Transportation Market is valued at approximately USD 214.54 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.6% over the forecast period 2023-2030Public transport refers to a system of transit that is open to the general 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.
Growth in urbanization and metropolitan areas have both greatly increased during the past few decades. According to data compiled by the United Nations, about 55% of people on Earth lived in urban areas in 2018. This percentage is predicted to reach 60% by 2030. Thus, rising urbanization across the globe is fostering market growth. In addition, rising urbanization and rising government support encouraging public transportation are creating a lucrative growth to the market. However, the rising preference for Passenger Vehicles and Motorcycles for Commuting stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Public Transportation Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. 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 objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Distribution Channel offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable