Passenger rail transportation is the carriage of people from a station where they board the train to a destination station. The right to travel is obtained by the purchase of a ticket, either in advance or at the station before boarding the train. Discounts may be offered to some passengers such as students and senior citizens. Passenger transport businesses’ revenues are mainly from the tickets purchased by passengers.
The global passenger rail transportation market was valued at $265 billion in 2017, owing to population growth, urbanization and increased demand for mobility. Asia Pacific was the largest geographic region in the market, accounting for half of the market share.
The passenger rail transport market in The Business Research Company’s report is split into three segments: medium-distance passenger transport, long-distance passenger transport, and short-distance passenger transport.
China was the largest country in the market in 2017, accounting for nearly one-fifth of the global passenger rail transportation market share. This is mainly due to large population and fairly well developed rail network in countries such as China and India.
The top five competitors in the market are East Japan Railway, MTR Hong Kong, Central Japan Railway, West Japan Railway, and Canadian Pacific Railway. East Japan Railway was the biggest player in passenger rail transport market in 2017, with revenue exceeding $27 trillion. East Japan Railway Company operates as a passenger railway company in Japan. The company operates through three segments: transportation, retail & services, real estate & hotels, and others related segments. It is headquartered in Tokyo, Japan.
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