Global Transit and Ground Passenger Transportation Market to Reach $1.2 Trillion by 2030
The global market for Transit and Ground Passenger Transportation estimated at US$698.6 Billion in the year 2023, is expected to reach US$1.2 Trillion by 2030, growing at a CAGR of 7.6% over the analysis period 2023-2030. Commuter Rail and Public Bus Services, one of the segments analyzed in the report, is expected to record a 8.2% CAGR and reach US$398.2 Billion by the end of the analysis period. Growth in the Taxi and Limousine Services segment is estimated at 7.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $196.3 Billion, While China is Forecast to Grow at 11.5% CAGR
The Transit and Ground Passenger Transportation market in the U.S. is estimated at US$196.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$250.8 Billion by the year 2030 trailing a CAGR of 11.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 7.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$173.4 Billion by the year 2030.
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