Public Transportation - Taiwan | Statista Market Forecast

Taiwan is projected to achieve a revenue of US$2.42bn in 2024 in the Public Transportation market.
The revenue is expected to grow annually at a rate of 0.89% between 2024-2029, reaching a projected market volume of US$2.53bn by 2029.
The number of users in the Public Transportation market is expected to be 18.97m users by 2029, with user penetration projected to be 75.2% in 2024 and 79.0% by 2029.
The average revenue per user (ARPU) is expected to be US$134.20.
By 2029, 27% of the total revenue in the Public Transportation market will be generated through online sales.
In comparison to other countries, United States is expected to generate the highest revenue of US$52bn in 2024.
Taiwan's government is investing heavily in public transportation infrastructure, including the expansion of their high-speed rail network.

Definition:

Local public transportation is used to transport people in everyday traffic by road, water, railway tracks, and sometimes by air (cable car) for local and regional transportation. In this market, revenues generated by ticket sales from public transportation companies, such as BVG (Berlin Transport Company), TfL (Transport for London), or Toei (東京都交通局: Tokyo Metropolitan Bureau of Transportation) are considered. Most providers sell single and group tickets or time-limited tickets for up to one year. This market does not take long-distance public transportation with national travel offerings into consideration.

Additional Information:

The main performance indicators of the Flights market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

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Local and regional public transportation by road, water, rail, and air
Regular transportation by bus, train, tram, subway, suburban trains, ferries, cable car, and trolleybus
All online and offline bookings for public transportation tickets and subscriptions, irrespective of the sales channel
Time-limited subscriptions and single tickets

Tickets for long-distance public transportation with nationwide travel offers
Private transportation
Freight transportation

The Public Transportation market in Taiwan has been experiencing significant growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Taiwan have played a crucial role in shaping the development of the Public Transportation market. With increasing urbanization and population density, there is a growing demand for efficient and reliable transportation options. Taiwanese customers prioritize convenience, affordability, and environmental sustainability when choosing their mode of transportation. As a result, there has been a shift towards using public transportation as a preferred means of commuting, especially in densely populated areas. Trends in the market have also contributed to the growth of the Public Transportation sector in Taiwan. The government has been actively promoting the use of public transportation through various initiatives such as the expansion of metro and light rail networks, the implementation of smart ticketing systems, and the introduction of electric buses. These trends have not only improved the overall efficiency and accessibility of public transportation but have also reduced carbon emissions and congestion on the roads. Local special circumstances in Taiwan have further fueled the development of the Public Transportation market. The island's limited land area and challenging terrain make it impractical to rely solely on private vehicles for transportation. Additionally, the high cost of car ownership, including parking fees and fuel expenses, has made public transportation a more attractive option for many Taiwanese residents. The government has also implemented policies to discourage car usage, such as high taxes on vehicle purchases and limited parking spaces in urban areas, further promoting the use of public transportation. Underlying macroeconomic factors have also played a significant role in the growth of the Public Transportation market in Taiwan. The country's strong economic growth and rising disposable incomes have increased the demand for transportation services. Additionally, the government's investment in infrastructure development, including the expansion of public transportation networks, has created opportunities for both domestic and foreign players in the market. Overall, the Public Transportation market in Taiwan is experiencing significant growth due to customer preferences for convenience and sustainability, market trends towards expansion and innovation, local special circumstances that favor public transportation, and underlying macroeconomic factors that drive demand. As the country continues to prioritize sustainable and efficient transportation options, the Public Transportation market is expected to further expand and evolve in the coming years.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of public transportation.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.