Passenger Rapid Transit System Market Report 2026

The passenger rapid transit system market size has grown strongly in recent years. It will grow from $61.79 billion in 2025 to $66.32 billion in 2026 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to expansion of urban population density, increasing government investment in public transport, rising traffic congestion in metropolitan areas, adoption of rail-based transit solutions, growth of airport transit connectivity.

The passenger rapid transit system market size is expected to see strong growth in the next few years. It will grow to $86.91 billion in 2030 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to increasing investments in smart city infrastructure, rising demand for low-emission public transport, expansion of autonomous train operations, growing integration of digital passenger information systems, increasing focus on transit system modernization. Major trends in the forecast period include increasing deployment of fully automated transit systems, rising demand for high-capacity urban rail networks, growing integration of smart signaling and control systems, expansion of energy-efficient transit technologies, enhanced focus on passenger safety and comfort.

The increasing population and rapid urbanization are expected to propel the growth of the passenger rapid transit system market going forward. Population and rapid 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 opportunity drives increasing population and rapid urbanization, as people migrate to cities in search of better jobs, higher wages, and improved access to services. The passenger rapid transit (PRT) system supports increasing population and rapid urbanization by providing efficient, reliable, and accessible transportation, enabling easier movement within growing urban areas and promoting the development of new urban zones. For instance, in 2024, according to the United Nations Population Fund, a US-based human rights group, more than half of the world's population now lives in urban areas, with projections suggesting this will rise to around 5 billion by 2030, largely in Africa and Asia. Therefore, the increasing population and rapid urbanization are driving the growth of the passenger rapid transit system market.

Major companies operating in the passenger rapid transit system market are focusing on developing innovative technologies such as zero-carbon mobility and smart rail technology to improve the overall performance and sustainability of transit networks. Zero-carbon mobility involves transportation systems powered by sustainable energy sources to eliminate emissions, while smart rail technology uses digital innovations such as AI, IoT, and data analytics to improve operational efficiency, safety, and user experience in rail networks. For instance, in September 2024, CRRC Corporation Limited, a China-based manufacturer of machinery and equipment, launched eco-friendly and intelligent passenger transport solutions. It reduces carbon emissions and enhances efficiency through renewable energy and smart technologies. They offer cleaner, safer, and more energy-efficient travel while improving passenger comfort and urban transit flexibility.

In May 2025, Hitachi Rail, a Japan-based rail solutions company, acquired Thales’ Ground Transportation Systems (GTS) business for $1.95 billion (€1,660 million). Through this acquisition, Hitachi Rail aims to enhance its digital rail signaling and transportation systems portfolio, broaden its global presence across urban and mainline rail markets, and strengthen its capabilities in advanced signaling, communications, and traffic management solutions. Thales’ Ground Transportation Systems is a France-based provider of rail signaling, train control, and integrated transportation solutions for metro, mainline, and freight rail networks.

Major companies operating 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., POMA Group.

Asia-Pacific was the largest region in the passenger rapid transit system market in 2025, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the passenger rapid transit system market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the passenger rapid transit system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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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