Urban Bus and Tramway Transport in Australia - Industry Market Research Report

Urban Bus and Tramway Transport in Australia - Industry Market Research Report

Urban Bus and Tramway Transport in Australia

Firms in the Urban Bus and Tramway Transport industry operate buses and trams for passenger transport along regular routes on set schedules. These services tend to be concentrated in metropolitan areas. Trading conditions have varied over the past few years; the COVID-19 outbreak sparked work-from-home restrictions and lockdowns, which limited the industry's performance. Passenger numbers fell in response, but public transport's necessity as an essential service kept many urban bus and tram routes operating throughout the lockdown periods, which limited their influence on revenue. The total number of employees in the workforce has been climbing, broadening demand for buses and trams. While the number of motor vehicles has also risen, fuel prices have lifted in response to sharp rises in the world price of crude oil over the past two years. This factor has made it more expensive for people to drive private motor vehicles, causing many people to opt for public transport instead of driving. Revenue is expected to climb at an annualised 3.1% over the five years through 2022-23, to reach $6.8 billion. This trend includes a fall of 1.3% in the current year – demand has grown in favour of trains in some regions, and trains are not included in the industry.

Industry firms primarily operate urban buses and tramways for passenger transport over regular routes on set schedules, mainly in metropolitan areas.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.