Both consumer travel habits and the exigencies of operating as a transport company are constantly evolving, posing challenges for all stakeholders. But Australia has actually seen a 3.2 per cent growth in its public transport market this year, now worth up to $26.9 billion.
Bounce is proud to respond to both the changes in consumer behaviour and the wider responsibility of bus transport operations in Sydney.
Australia’s public transport market is growing
Ibis World research indicates that Australia’s transport infrastructure and services are projected to boost passenger capacity and encourage commuter use, driving industry revenue.
The public transport industry is the ninth ranked Thematic Reports industry and is among the 51 largest markets in Australia.
Australia's public transport market is worth $26.9b in 2022.
— Bounce (@bounceonlineau) November 25, 2022
The research indicates that transport expenditure has supported the expansion of industry transport networks, allowing “industry players to service a larger pool of passengers and encouraging greater commuter use”.
“The high and growing cost of travel by car along with rising congestion, has further increased the number of road-users switching to public transport,” it continued.
The research found that that “despite rising overall, government investment has been patchy, with few networks keeping pace with growth in commuter numbers”. But it accounted for the fact that capital expenditure in the industry both by state and federal governments is expected to increase by 2022.
Current and future markets are not buying private cars, by a factor of 12 per cent, suggests Penn State, largely as a result of financial constraints and inner-city infrastructure.
In its place, consumers (across all industries) are crying out for flexible, adaptable and on-demand services such as Bounce’s bus network – the catalyst to the future of transport. This renders a car to be merely a surplus to transport options, driving down the will to buy cars.
It’s a philosophy shared by the Australian Government Trade and Investment Commission, who outlines that the future transport sector ought to be chracterised by a “shift from ownership to usership”.
The commission wishes to use Mobility as a Service (Maas) and one of key three components of the sector’s future growth. It also outlines a the desired evolution of “car and ride-share into user-centric, multimodal mobility services that include public transport and emerging first and last-mile mobility options”.
Leading the future growth in the market will be those that seek to operate sustainably, and address the needs of future popular populations.
Bounce is proud to announce its partnership with Nexport, who are the leading providers of sustainable solutions for the transport and logistics industries.
If you're a business owner or government looking for advice on transitioning to zero emissions transport solutions. @NexportO provides a complete solution.#zerohero #nexport #cleantech #innovation #manufacturing #localjobs #hiring #zeroemission #transport #nsw #gozero pic.twitter.com/rETksiNNJd
— Nexport_Official (@NexportO) October 28, 2022
Our partnership ensures that our 100% electric and purpose-built, zero-emission vehicles are integrated with Nexport ZaaP (Zero as a Platform) and allows us to utilise the Nexport owned and operated networks of charging stations for our buses.
Bounce Mobility Director Robert Hayden says the size of the public transport market is forecast go back past $30 billion, with the younger generation particularly on board for the change.
Those commuting to the CBD are also particularly set to benefit from MaaS models.
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About The Author: James Johnston
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