The turnover of interurban passenger rail transport in the UK stood at 14.86 billion Euros in 2023. Historically, the industry has shown fluctuations with a notable dip in 2016, after which it gradually recovered. The year-on-year growth rates over the last two years have been modest, with a 2.08% increase in 2022 and a 1.99% rise in 2023. The compound annual growth rate (CAGR) over the last five years stands at 1.48%.
Forecasts from 2024 to 2028 suggest a steady growth trend, with a forecasted CAGR of 1.39% and an overall growth rate of 7.15% by 2028. This indicates a continued positive trajectory for the industry, although at a moderate pace.
Future trends to watch for include technological advancements in rail transport, government policies impacting transportation infrastructure, and shifts in passenger demand due to changes in work-from-home culture and sustainable travel preferences.
