The passenger kilometers carried by railway in China demonstrated a steady upward trend from 2013 to 2019, peaking at 1.4386 trillion in 2019. This steady growth was interrupted in 2020 due to the COVID-19 pandemic, which caused a sharp decline of 77.18%. However, the sector rebounded strongly in 2021 with a 188.35% increase and continued to recover through 2022 and 2023, reaching 1.581 trillion passenger kilometers in 2023. The Compound Annual Growth Rate (CAGR) from 2019 to 2023 was 3.03%. Looking ahead, forecasts suggest continued growth with a projected CAGR of 3.46% from 2024 to 2028, reaching 1.9674 trillion passenger kilometers by 2028.
Future trends to watch for:
- Potential impacts of evolving travel habits post-COVID-19.
- Continued investments in high-speed rail and infrastructure upgrades.
- Effects of government policies promoting green transportation solutions.
- Technological advancements in rail systems driving efficiency and capacity.
