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Passenger Rail Transport in China Industry Data and Analysis
Revenue from the Passenger Rail Transport industry in China is expected to increase at a CAGR of 3.1% over the five years through 2024, to total $71.7 billion, with an estimated industry profitability of 0.5%. Industry passenger turnover is expected to recover from the COVID-19 pandemic, growing at a CAGR of 2.7%, to reach 1,680.6 billion person-kilometers in 2024. Until the mid-1990s, railway transportation was considered China's most important form of transportation. Under China's economic reforms, road and air transportation experienced tremendous growth, while the railway system grew at a slower rate. In terms of passenger numbers, railway transportation as a share of the total transportation system has increased over the past decade. Railway passenger turnover in 2023 accounted for 51.5% of China's total transportation system.China's railway system entered a period of growth in late 2008. The Government began to invest heavily in railway construction to increase railway capacity and offset the adverse effects of the global financial crisis. In 2009, the total length of new railway was 5,851 kilometers. In 2010, there were 97 new railroad projects in China, with total completed investment in railway construction reaching $105.0 billion for the year. By the end of 2023, the length of China's railways in operation had reached 159,000 kilometers, among which the length of high-speed railways in operation has reached 45,000 kilometers, China's railway capacity increased greatly.The industry's performance is anticipated to remain steady in future years, with a large number of railways being constructed. This will lead to a separation of freight and passenger transportation services and increase passenger transportation capacity. High-speed intercity railway operations will significantly strengthen the competitiveness of railway transportation systems in China's short- and medium-distance transportation segments. Industry revenue is forecast to grow at a CAGR of 4.5% over the five years through 2029, to total $89.2 billion.
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What's included in this industry analysis
IBISWorld's research coverage on the Passenger Rail Transport industry in China includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released November 2024.
About this industry
What's this industry report about?
The Passenger Rail Transport industry in China operates under the industry code 5110. Firms in the Passenger Rail Transport industry in China operate state-owned railways (invested by the central government); local railways (invested by local governments); and railways co-invested by enterprises and governments at different levels. Operations of railway terminals, station facilities or rail transit services in urban cities (i.e., light rail and subways) are not included in this industry. Related terms covered in the Passenger Rail Transport industry in China include electrified railway, double-track railways and rolling stock.
What's included in this industry?
Products and services covered in Passenger Rail Transport industry in China include Medium-distance passenger transport, Long-distance passenger transport and Short-distance passenger transport.
What companies are included in this industry?
Companies covered in the Passenger Rail Transport industry in China include China State Railway Group Co., Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Passenger Rail Transport industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Passenger Rail Transport industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Passenger Rail Transport industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Passenger Rail Transport industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Passenger Rail Transport industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Passenger Rail Transport industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Passenger Rail Transport industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Passenger Rail Transport industry in China.
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Frequently Asked Questions
What is the market size of the Passenger Rail Transport industry in China in 2026?
The market size of the Passenger Rail Transport industry in China is $71.7bn in 2026.
How many businesses are there in the Passenger Rail Transport industry in China in 2024?
There are 1 businesses in the Passenger Rail Transport industry in China, which has declined at a CAGR of 0.0 % between 2019 and 2024.
How may import tariffs affect the Passenger Rail Transport industry in China?
The Passenger Rail Transport industry in China is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Passenger Rail Transport industry in China?
The Passenger Rail Transport industry in China is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Passenger Rail Transport industry in China grown or declined over the past 5 years?
The market size of the Passenger Rail Transport industry in China has been growing at a CAGR of 3.1 % between 2019 and 2024.
What is the forecast growth of the Passenger Rail Transport industry in China over the next 5 years?
Over the next five years, the Passenger Rail Transport industry in China is expected to grow.
What are the biggest companies in the Passenger Rail Transport industry in China?
The biggest company operating in the Passenger Rail Transport industry in China is China State Railway Group Co., Ltd.
What does the Passenger Rail Transport industry in China include?
Short-distance passenger transport and Medium-distance passenger transport are part of the Passenger Rail Transport industry in China.
Which companies have the highest market share in the Passenger Rail Transport industry in China?
The company holding the most market share in the Passenger Rail Transport industry in China is China State Railway Group Co., Ltd..
How competitive is the Passenger Rail Transport industry in China?
The level of competition is low and increasing in the Passenger Rail Transport industry in China.
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