Passenger traffic on US railways has seen significant fluctuations from 2013 to 2023. Starting at 36.05 billion passenger kilometers in 2013, the volume remained relatively stable until 2016, after which it began to decline, reaching a low of 31.96 billion in 2018. A slight recovery was observed in 2019 before the global pandemic caused a drastic drop of 61.64% in 2020. The volume rebounded sharply in the subsequent years, achieving notable recovery by 2023 at 33.34 billion passenger kilometers.
The data indicates a year-on-year growth of 15.04% in 2023 compared to 2022 and places the volume at 33.34 billion passenger kilometers. Over the past two years, the volume experienced an average annual growth of 21.44%, while the five-year Compound Annual Growth Rate (CAGR) stood at 0.85% by 2023.
Looking ahead to the forecast period through 2028, moderate growth is anticipated with an expected five-year CAGR of 0.64% and an overall growth of 3.26%. This suggests a steady if slow recovery, reflecting both post-pandemic normalization and cautious optimism about future railway passenger traffic in the US.
Future trends to watch for include innovations in rail technology, infrastructure investments, potential shifts in commuter preferences due to ongoing remote work arrangements, and environmental policies that could affect public transportation's appeal. These factors will play significant roles in shaping the railway passenger market.
