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Public Transportation - Turkmenistan

Turkmenistan

By 2024, Turkmenistan's Public Transportation market is expected to generate revenue of US$326.50m.
The market volume is projected to increase with a compound annual growth rate (CAGR 2024-2029) of 5.32%, reaching US$423.10m by 2029.
In terms of users, the market is expected to reach 4.25m users by 2029, with a user penetration rate of 54.1% in 2024 and 61.0% by 2029.
The average revenue per user (ARPU) is predicted to be US$91.42.
Furthermore, it is estimated that 25% of the total revenue in the Public Transportation market will come from online sales by 2029.
It is worth noting that United States is expected to generate the most revenue globally in this sector, with US$52bn in 2024.
Turkmenistan's public transportation system is heavily reliant on buses, with limited options for rail or metro services.

Key regions: South America, Malaysia, China, Thailand, United States

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Analyst Opinion

The Public Transportation market in Turkmenistan has been experiencing significant growth in recent years.

Customer preferences: Customers in Turkmenistan are increasingly opting for public transportation due to its affordability and convenience. Public transportation offers a cost-effective alternative to owning and maintaining a private vehicle. Additionally, the growing urban population and increasing traffic congestion have further fueled the demand for public transportation.

Trends in the market: One of the key trends in the public transportation market in Turkmenistan is the expansion and modernization of existing transportation infrastructure. The government has been investing heavily in the development of new metro lines, bus networks, and tram systems to meet the growing demand for public transportation. This has led to improved connectivity and accessibility for commuters. Another trend in the market is the adoption of technology in public transportation. Turkmenistan has been embracing smart transportation solutions such as contactless payment systems, real-time tracking of vehicles, and mobile applications for ticketing and route planning. These technological advancements have enhanced the overall user experience and made public transportation more efficient and user-friendly.

Local special circumstances: Turkmenistan is a country with a predominantly urban population, with a significant portion residing in the capital city, Ashgabat. This concentration of population in urban areas has created a high demand for public transportation services. The government has recognized the need to address the transportation needs of the urban population and has been actively working towards improving the public transportation infrastructure in these areas.

Underlying macroeconomic factors: The growth of the public transportation market in Turkmenistan can be attributed to several underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and improved living standards. This has resulted in an increased demand for public transportation services as more people are able to afford the cost of commuting. Furthermore, Turkmenistan has a young and growing population, which has contributed to the rising demand for public transportation. The younger generation, in particular, is more inclined towards using public transportation due to environmental concerns and the desire for a more sustainable lifestyle. In conclusion, the Public Transportation market in Turkmenistan is witnessing significant growth due to customer preferences for affordability and convenience, the expansion and modernization of transportation infrastructure, the adoption of technology in public transportation, the concentration of population in urban areas, and underlying macroeconomic factors such as economic growth and a young population.

Methodology

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.