The North America Public Transportation Market would witness market growth of 4.7% CAGR during the forecast period (2022-2028).
In recent years, public transportation utilization has declined in several wealthy cities. Several sources link this development to the growth in popularity of remote work, ride-sharing programs, and very inexpensive auto loans in numerous nations. This drop has been observed in major cities like Toronto, Paris, Chicago, and London, which have sought to intervene by reducing rates and supporting other methods of transportation, such as e-scooters and e-bikes.
Due to the lower pollution and other environmental consequences of public transportation compared to private mobility, an increase in public transit investment has been cited by several experts as an essential climate change mitigation strategy. The omnibus appears to have started in Paris, France, around 1662, although the service in question, Carrosses à cinq sols, collapsed a few months after its inventor, Blaise Pascal, died in August 1662; omnibuses next emerged in Nantes, France, in 1826. London's first omnibus was inaugurated in July 1829.
According to the American Community Survey (ACS), around 5 percent of all employees in the United States utilized public transit in 2019. 1 Though public transportation (transit) was a relatively uncommon mode of commuting to work in the United States as a whole, it played an important role in particular areas, such as New York and San Francisco, where over one-third of employees commuting by transit. 2 In 2019, transit commuting trends varied by region, metropolitan area (metro), and several noteworthy demographic variables.
The US market dominated the North America Public Transportation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $56,665.8 million by 2028. The Canada market is poised to grow at a CAGR of 6.7% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 6.5% during (2022 - 2028).
Based on Mode Type, the market is segmented into Road, Rail and Others. Based on Ticket Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Public Transportation Market is Estimated to reach $285.7 Billion by 2028, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BC Transit Corporation, Transport International Holdings Limited, Brussels Intercommunal Transport Company, Metrolink, Transdev Group SA (Caisse des Dépôts et Consignations), Tobu Railway Co., Ltd., and Trenitalia c2c Limited.
By Mode Type
By Ticket Distribution Channel
By Country
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