Market overview
The global public transport market is worth USD 184 bn in 2026 and is forecast to reach USD 285 bn by 2036, growing at a 4.5% CAGR. China is the largest country market and Bus is the largest by mode segment.
| Scope | Fare revenue earned by urban and suburban public transport operators running bus, metro, tram and commuter rail services. |
|---|---|
| Industry | Services and Utilities |
| Value 2025 | USD 175 bn |
| Value 2026 | USD 184 bn |
| Value 2036 | USD 285 bn |
| CAGR 2026-2036 | 4.5% |
| Volume 2026 | 247,059 million passenger trips |
| Volume 2036 | 314,747 million passenger trips |
| Average price 2026 | USD 0.74 per passenger trip |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Public Transport market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 184 bn |
| 2027 | USD 192 bn |
| 2028 | USD 201 bn |
| 2029 | USD 210 bn |
| 2030 | USD 219 bn |
| 2031 | USD 229 bn |
| 2032 | USD 239 bn |
| 2033 | USD 250 bn |
| 2034 | USD 261 bn |
| 2035 | USD 273 bn |
| 2036 | USD 285 bn |
Public Transport market segmentation
By mode
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Bus | 38.0% | 33.4% | USD 69.8 bn | 3.2% |
| Metro and subway | 30.0% | 35.1% | USD 55.1 bn | 6.2% |
| Commuter and suburban rail | 22.0% | 21.3% | USD 40.4 bn | 4.2% |
| Tram and light rail | 10.0% | 10.2% | USD 18.4 bn | 4.7% |
By operator
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Public operators | 58.0% | 54.6% | USD 107 bn | 3.9% |
| Private contractors | 36.0% | 39.1% | USD 66.2 bn | 5.4% |
| Mixed concession models | 6.0% | 6.2% | USD 11.0 bn | 4.9% |
By fare source
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Fare revenue | 52.0% | 48.0% | USD 95.5 bn | 3.7% |
| Government subsidies and service contracts | 42.0% | 45.0% | USD 77.2 bn | 5.2% |
| Advertising and other income | 6.0% | 7.0% | USD 11.0 bn | 6.1% |
By propulsion
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Diesel | 44.0% | 31.0% | USD 80.8 bn | 0.9% |
| Electric and trolley | 32.0% | 43.0% | USD 58.8 bn | 7.6% |
| Natural gas and hybrid | 24.0% | 26.0% | USD 44.1 bn | 5.3% |
By service area
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Metropolitan | 61.0% | 62.0% | USD 112 bn | 4.7% |
| Regional and intercity | 27.0% | 27.0% | USD 49.6 bn | 4.5% |
| Rural | 12.0% | 11.0% | USD 22.1 bn | 3.6% |
Top 25 countries for public transport by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 74.5% of 2026 revenue and the 25 countries below together hold 93.4%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | China | USD 47.8 bn | 26.0% | USD 83.3 bn | 5.7% |
| 2 | Japan | USD 20.2 bn | 11.0% | USD 25.1 bn | 2.2% |
| 3 | India | USD 14.7 bn | 8.0% | USD 30.8 bn | 7.7% |
| 4 | United States | USD 13.8 bn | 7.5% | USD 18.8 bn | 3.2% |
| 5 | Germany | USD 8.3 bn | 4.5% | USD 11.4 bn | 3.3% |
| 6 | United Kingdom | USD 7.3 bn | 4.0% | USD 10.0 bn | 3.1% |
| 7 | France | USD 7.3 bn | 4.0% | USD 10.0 bn | 3.1% |
| 8 | Brazil | USD 6.4 bn | 3.5% | USD 9.7 bn | 4.2% |
| 9 | South Korea | USD 5.5 bn | 3.0% | USD 7.1 bn | 2.6% |
| 10 | Russia | USD 5.5 bn | 3.0% | USD 7.1 bn | 2.6% |
| 11 | Italy | USD 5.3 bn | 2.9% | USD 7.8 bn | 3.9% |
| 12 | Spain | USD 4.1 bn | 2.2% | USD 6.0 bn | 3.9% |
| 13 | Canada | USD 3.3 bn | 1.8% | USD 4.8 bn | 3.9% |
| 14 | Australia | USD 2.8 bn | 1.5% | USD 4.1 bn | 3.9% |
| 15 | Mexico | USD 2.4 bn | 1.3% | USD 3.9 bn | 4.9% |
| 16 | Turkey | USD 2.2 bn | 1.2% | USD 3.6 bn | 4.9% |
| 17 | Indonesia | USD 2.0 bn | 1.1% | USD 3.3 bn | 5.0% |
| 18 | Netherlands | USD 1.9 bn | 1.0% | USD 2.8 bn | 3.9% |
| 19 | Switzerland | USD 1.8 bn | 1.0% | USD 2.6 bn | 3.9% |
| 20 | Poland | USD 1.7 bn | 0.9% | USD 2.5 bn | 3.9% |
| 21 | Sweden | USD 1.6 bn | 0.9% | USD 2.3 bn | 3.9% |
| 22 | Austria | USD 1.5 bn | 0.8% | USD 2.2 bn | 4.0% |
| 23 | Thailand | USD 1.5 bn | 0.8% | USD 2.3 bn | 4.9% |
| 24 | Egypt | USD 1.4 bn | 0.8% | USD 2.3 bn | 4.9% |
| 25 | Saudi Arabia | USD 1.3 bn | 0.7% | USD 2.2 bn | 4.9% |
| Rest of world | USD 12.2 bn | 6.6% | USD 19.3 bn | 4.8% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Deutsche Bahn
- Transdev
- Keolis
- RATP Group
- MTR Corporation
- East Japan Railway Company
- Shanghai Shentong Metro Group
- Tokyo Metro
- Metropolitan Transportation Authority
Group 2: Regional and specialist players
- FirstGroup
- Mobico Group
- Kinetic Group
- Stagecoach
- Go-Ahead Group
- Arriva
- Transport for London
- Metrolinx
- Renfe
Group 3: Emerging and niche players
- ComfortDelGro
- SBS Transit
- Transit Systems
- Busways Group
- Via Transportation
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the public transport market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 4.5% is calculated from the resulting values.
The market is divided by mode, by operator, by fare source, by propulsion, by service area. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the public transport market?
The global public transport market is estimated at USD 175 bn in 2025 and USD 184 bn in 2026.
How fast will the public transport market grow?
It is forecast to reach USD 285 bn by 2036, a compound annual growth rate of 4.5% from 2026, an increase of USD 102 bn.
Which country is the largest market for public transport?
China is the largest market by revenue at USD 47.8 bn in 2026, 26.0% of the global total. The three largest countries together hold 45.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 7.7% a year from 2026 to 2036.
Which public transport segment is largest?
In the by mode split, Bus is the largest segment with 38.0% of 2026 revenue.
Who are the leading public transport companies?
Global leaders include Deutsche Bahn, Transdev, Keolis, RATP Group.
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