Train Market Development Trends of Analysis Report 2028

Train Market Growth & Trends

The global train market size is expected to reach USD 86.0 billion by 2028, registering a CAGR of 3.8% during the forecast period, to from 2022 to 2028, according to a new report by Grand View Research, Inc. The growth of the train market is credited to the development in the rail technology, expansion of the rail network, government initiatives, and increasing tourism travel.

U.S. train market size, by distribution channel, 2019 - 2028 (USD Billion)

Train Market Segmentation

Grand View Research has segmented the global train market based on the distribution channel, and region:

Based on the Distribution Channel Insights, the market is segmented into Online and Offline.

  • The global train market is segmented based on the distribution channel. It is dominated by the offline channel. The offline channel occupied 69.6% revenue share of the global train market during 2021. The dominance of the offline channels is due to the lack of widespread technology and adoption of online ticketing services by the consumers as well as operators. The market is highly fragmented with disconnected non-standardized systems. Numerous medium level players are operating in the market with insufficient funding to access the cutting-edge distribution technology.
  • In the global train market, online segment of distribution channel is expected to witness strong growth. Online segment is likely to register a CAGR of 5.5% during the forecast period. The robust growth is facilitated by the increasing use of smartphones and rising internet penetration. Also increasing contribution of millennial and generation z in the rail travel during the coming years and their highly dependency on the online transactions is expected to drive the growth of the online distribution channel.

Train Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East and Africa (MEA)

Key Companies Profile & Market Share Insights

The market is highly fragmented with global and medium operators playing an important role. Key companies focus on the expansion and extending rail networks to untapped areas and technological developments. Many operators are planning to phase out diesel-run trains and adopt new green technology such as fuel cell technology. Many governments are also planning to enter into the high-speed rail for long-distance train travel in Asia and Europe.

Some of the prominent players operating in the global train market include,

  • Deutsche Bahn AG
  • SNCF Group
  • MTR Corporation Limited
  • Amtrak Corporation
  • Via Rail Canada Inc.
  • Korea Railroad Corporation
  • China State Railway Co. Ltd.
  • ÖBB Group
  • Central Japan Railway Company
  • NSW Train link

Order a free sample PDF of the Train Market Intelligence Study, published by Grand View Research.

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