Passenger Rapid Transit System Global Market Report 2025

The passenger rapid transit system market size has grown strongly in recent years. It will grow from $57.55 billion in 2024 to $61.79 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to the increasing focus on reducing vehicular pollution, rising demand for affordable and accessible mobility solutions, expanding deployment of intelligent transportation systems, growing consumer preference for hassle-free and time-saving travel options, and heightened public awareness of the environmental benefits.

The passenger rapid transit system market size is expected to see strong growth in the next few years. It will grow to $81.3 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to increasing urbanization, rising traffic congestion, growing demand for sustainable transportation, increasing government investments, and the expanding adoption of smart city initiatives. Major trends during the forecast period include the development of smart and connected transit systems, automation and driverless technologies, integration with multimodal transport, funding through public-private partnerships, and advancements in automation technology.

The increasing population and rapid urbanization are expected to propel the growth of the passenger rapid transit system market going forward. Population growth and urbanization refer to the simultaneous increase in the number of people and the swift migration from rural to urban areas, resulting in expanding cities and changing socio-economic dynamics. Economic opportunities drive this trend, as people migrate to cities in search of better jobs, higher wages, and improved access to services. Passenger rapid transit (PRT) systems support these changes by providing efficient, reliable, and accessible transportation solutions, enabling easier movement within growing urban centers and fostering the development of new urban zones. For instance, in 2024, according to the United Nations Population Fund, a US-based human rights organization, over half of the world's population now resides in urban areas, with projections estimating this will rise to around 5 billion by 2030, predominantly in Africa and Asia. Therefore, population growth and rapid urbanization are driving the expansion of the passenger rapid transit system market.

Key players in the passenger rapid transit system market are focusing on cutting-edge technologies such as zero-carbon mobility and smart rail systems to boost sustainability and performance. Zero-carbon mobility entails transit systems powered by renewable energy sources to eliminate carbon emissions, while smart rail technology leverages digital innovations like artificial intelligence (AI), the Internet of Things (IoT), and data analytics to enhance operational efficiency, safety, and passenger experience. For example, in September 2024, CRRC Corporation Limited, a China-based machinery and equipment manufacturer, introduced eco-friendly and intelligent passenger transport solutions that reduce carbon emissions and improve efficiency through renewable energy integration and smart technology. These advancements offer cleaner, safer, and more energy-efficient travel options while enhancing passenger comfort and urban transit flexibility.

In July 2022, VR Group, a Finland-based railway company, acquired Arriva Group for an undisclosed amount. This acquisition aims to expand VR Group’s presence in the Nordic region and position it as a leader in sustainable public transportation. Arriva Group, a UK-based transport company, provides conventional public transit services that complement passenger rapid transit systems, contributing to improved urban mobility solutions.

Major players in the passenger rapid transit system market are CRRC Corporation Limited, Mitsubishi Heavy Industries Ltd., Alstom SA, Kawasaki Heavy Industries Ltd., Siemens Mobility GmbH, Keolis Group, Transmashholding, Stadler Rail AG, Construcciones y Auxiliar de Ferrocarriles S.A., RATP Dev, ComfortDelGro Corporation Limited, Vectus Intelligent Transport Solutions, Hitachi Rail Limited, Titagarh Rail Systems Limited, Doppelmayr Cable Car, 2getthere Technologies B.V., Transdev Group, Ultra Global PRT, skyTran Inc., and POMA Group.

Asia-Pacific was the largest region in the passenger rapid transit system market in 2024, and it is expected to be the fastest-growing region in the forecast period. The regions covered in passenger rapid transit system report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the passenger rapid transit system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The passenger rapid transit system refers to high-speed, high-capacity public transportation networks, including metro, light rail, and monorail systems, specifically designed for urban mobility. These systems offer frequent and efficient services to transport large numbers of passengers across city areas. They typically operate on dedicated tracks or lanes to avoid traffic congestion and ensure reliable and timely transit.

The primary types of passenger rapid transit systems include monorail, duorail, automated guideway transit or maglev, and others. A monorail is a transit system that runs on a single elevated track and is commonly utilized in urban transportation, airports, and amusement parks. The system comprises components such as hardware, software, and services, supporting applications in areas like airports, urban transit, amusement parks, commercial centers, and more.

The passenger rapid transit system market research report is one of a series of new reports that provides passenger rapid transit system market statistics, including the passenger rapid transit system industry's global market size, regional shares, competitors with the passenger rapid transit system market share, detailed passenger rapid transit system market segments, market trends and opportunities, and any further data you may need to thrive in the passenger rapid transit system market. This passenger rapid transit system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The passenger rapid transit system market includes revenues earned by entities by providing services such as on-demand ride services, ticketing and fare collection, and safety and security monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. The passenger rapid transit system market also includes sales of automated people movers, monorails, and commuter trains. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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