Dublin, June 16, 2025 (GLOBE NEWSWIRE) -- The "Transit and Ground Passenger Transport Market 2025-2034" has been added to ResearchAndMarkets.com's offering.
The global Transit and Ground Passenger Transport Market is projected to be valued at USD 706.2 billion by 2025, with expectations to surge at a CAGR of 8.7%, reaching USD 1.48 trillion by 2034
This market is integral to urban mobility, traffic reduction, and sustainable transportation. Key components include public buses, trains, trams, taxis, ride-sharing, and paratransit services. With accelerated urbanization, environmental awareness, and increased demand for cost-effective transport options, the market is experiencing substantial growth.
In emerging economies, the need for efficient public transportation is crucial in managing urban sprawl, while developed regions focus on reducing carbon emissions through public transport initiatives. Technology advancements such as real-time tracking, mobile ticketing, and smart card integration enhance user experience. Post-pandemic recovery emphasizes enhancing safety and resilience within transit systems. The growing urban population accentuates the importance of efficient and sustainable transit in modern urban planning.
In 2024, the market witnessed advancements driven by rekindled urban mobility and infrastructure investments. Electric buses and hybrid vehicles gained traction as cities aimed for emission reduction. Ride-hailing platforms expanded into electric and hybrid fleets, while micro-mobility solutions like e-scooters and shared bikes became prevalent. AI-based route optimization, dynamic pricing, and multi-modal ticketing enhanced passenger convenience and operational efficiency. Despite challenges like labor shortages and fluctuating fuel prices, 2024 marked a pivotal year for transit modernization and digital advancement.
Looking to the future, the market is poised for transformative growth driven by smart city initiatives, electrification, and evolving consumer expectations. Governments will likely mandate zero-emission fleets, facilitating massive investments in electric and hydrogen buses. Standard features will include digital ticketing, real-time passenger info, and AI-driven predictive maintenance. Autonomous shuttles and self-driving buses are expected to expand beyond pilot stages, addressing rural and suburban mobility gaps through on-demand transit models.
Despite challenges such as funding constraints, the emphasis on innovative financing models and public-private partnerships is key for sustainable growth. The integration of Mobility-as-a-Service (MaaS) platforms is revolutionizing travel, combining transport modes into a single accessible service. AI and data analytics are optimizing operations and enhancing passenger satisfaction. Micro-mobility solutions offer last-mile connectivity in urban areas.
Key insights indicate an acceleration in the electrification of transport fleets globally, driven by stricter emission regulations and public demand for cleaner transport. Accessibility and inclusivity initiatives are gaining prominence, ensuring equitable service delivery. Rapid urbanization fuels demand for efficient public transport systems, with government incentives and policies supporting market growth.
The competitive landscape reveals company profiles detailing strategies, product portfolios, and financial performance. Key developments include product launches, investments, mergers, collaborations, and policy shifts impacting market dynamics. The regional insights provide data on promising investment markets across North America, Europe, Asia-Pacific, the Middle East and Africa, and South and Central America, aiding strategic planning.
Overall, the Transit and Ground Passenger Transport Market is set for substantial growth, fueled by technological innovations, sustainability drives, and evolving consumer expectations, making it an attractive sector for investment and development.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value (USD) in 2025 | $706.2 Billion |
| Forecasted Market Value (USD) by 2034 | $1480 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
Companies Featured
- Didi Chuxing Technology Co.
- Keolis
- FirstGroup Plc
- Metropolitan Transportation Authority
- Transporte Brasileiro LTDA
- Nihon Kotsu
- Madrid Metro
- MAILCAR S.R.L.
- Grab Tax
For more information about this report visit https://www.researchandmarkets.com/r/n24cff
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