Published on 11 Apr 2024 on Insider Monkey via Yahoo Finance

20 Countries With The Highest Railway Passenger Traffic in The World

In this article, we will take a look at the 20 countries with the highest railway passenger traffic in the world. If you would like to skip our discussion on the rail transportation market, you can go to the 5 Countries With The Highest Railway Passenger Traffic in The World.

According to Research and Markets, the Global Rail Transportation market was valued at approximately $479 billion in 2023. The market is expected to expand at a compound annual growth rate (CAGR) of 4.7% to reach $692.2 billion by 2030. Within this market, the passenger segment is projected to experience significant growth, with a CAGR of 5.3%. By the end of the analysis period, the passenger segment could reach a value of about $377.6 billion.

The United States ranks first among the countries with the largest railway network in the world. The US railway transportation market was valued at $110.1 billion in 2023. Meanwhile, China, the world's second-largest economy, is forecasted to achieve considerable growth, reaching $124.1 billion by 2030, with a CAGR of 6.3%. Japan and Canada are expected to grow at rates of approximately 3.6% and 4.5%, respectively, from 2023 to 2030. Japan is also known as one of the countries with the best railway systems in the world.