Public Transportation - Europe
- Europe
- Europe is expected to witness a significant growth in its Public Transportation market in the coming years.
- By 2024, the projected revenue in this sector is estimated to reach US$113.50bn, with an expected CAGR of 1.87% from 2024 to 2029, resulting in a projected market volume of US$124.50bn by 2029.
- It is anticipated that the number of users in this market will amount to 0.56bn users by 2029, with a projected user penetration of 63.7% in 2024 and 66.7% by 2029.
- The average revenue per user (ARPU) is expected to be US$211.10.
- Moreover, it is projected that 28% of the total revenue in the Public Transportation market will be generated through online sales by 2029.
- In terms of revenue generation, United States is expected to dominate the global market, with a projected revenue of US$52bn in 2024.
- In Germany, the public transportation market is dominated by Deutsche Bahn, with a focus on expanding their high-speed rail network.
Key regions: South America, Malaysia, China, Thailand, United States
Analyst Opinion
The Public Transportation market in Europe is experiencing significant growth and development due to several key factors. Customer preferences are shifting towards more sustainable and environmentally friendly modes of transportation, leading to increased demand for public transportation services. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the growth of the market.
Customer preferences: Customers in Europe are increasingly prioritizing sustainability and environmental consciousness when it comes to transportation. Public transportation offers a more eco-friendly alternative to private vehicles, reducing carbon emissions and congestion in cities. Moreover, the convenience and cost-effectiveness of public transportation are appealing to customers who are looking for affordable and efficient ways to travel within and between cities.
Trends in the market: One of the key trends in the European public transportation market is the expansion and modernization of existing infrastructure. Many countries are investing in the development of new rail and metro lines, as well as the improvement of existing bus and tram networks. This expansion aims to enhance connectivity, reduce travel times, and accommodate the growing demand for public transportation services. Another trend is the integration of technology into public transportation systems. Mobile ticketing, real-time tracking, and digital payment options are becoming increasingly common, making it easier and more convenient for customers to use public transportation. This digitalization of services also allows for better data collection and analysis, enabling transport authorities to optimize routes and improve overall efficiency.
Local special circumstances: Different countries in Europe have their own unique circumstances that influence the development of their public transportation markets. For example, densely populated cities like London and Paris face high levels of congestion and pollution, leading to a greater emphasis on public transportation as a solution. In contrast, countries with vast rural areas may focus more on improving regional bus and train services to connect remote communities.
Underlying macroeconomic factors: The European public transportation market is also influenced by underlying macroeconomic factors. Economic growth and urbanization play a significant role in driving the demand for public transportation services. As cities continue to grow and attract more residents and businesses, the need for efficient and reliable transportation becomes increasingly important. Additionally, government policies and funding initiatives can have a significant impact on the development of public transportation infrastructure and services. In conclusion, the Public Transportation market in Europe is experiencing growth and development driven by customer preferences for sustainable transportation options, trends in infrastructure expansion and technological integration, local special circumstances, and underlying macroeconomic factors. As the demand for efficient and eco-friendly transportation continues to rise, the public transportation market in Europe is expected to further evolve and expand in the coming years.
Methodology
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of public transportation.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.Overview
- Revenue
- Key Players
- Sales Channels
- Analyst Opinion
- Users
- Global Comparison
- Methodology
- Key Market Indicators