SMRT, Prasarana Malaysia Berhad, SBS Transit & More Key Players in the Growing Railways Market

Public transit systems play a vital role in the growth of cities and metropolitan hubs. Public modes of transportation, such as mass rapid transit (MRT), light rail, trams, buses, and regional taxis, connect business districts with labor sources and households with offices or touristic places.

The Popularity of Mass Rapid Transit Systems

Mass rapid metros remain the most popular form of transit. Countries are building mass transit networks faster than ever before. There are more than 180 metro systems worldwide. Some of the busiest metro systems are the Tokyo subway system, the Seoul Metropolitan Subway, the Moscow Metro, the New York City Subway, the Hong Kong Mass Transit Railway, and the Singapore MRT, among others.

Investment in Public Transportation

According to a McKinsey report, Asia is investing the most in its future light-rail and metro systems with 920 billion U.S. dollars. Global projects are estimated to be worth over 1.4 trillion U.S. dollars. All of these MRT and subway projects are at various planning and execution phases. Urbanisation and population growth have led to an increase in demand for public transportation. The governments all over the world are investing in modern and advanced versions of track systems, metro trains, signalling and power systems, and more to provide better services to commuters, make travel faster and comfortable, and increase reliability and safety.

According to the same McKinsey report, Middle East will invest 135 billion USD and Europe will invest 145 billion USD in their light-rail infrastructures, while Latin America and Africa plan to invest under 100 billion U.S. dollars over the next five years. Singapore is investing S$60 billion in rail expansion and rail renewal programmes. The Land Transport Authority of Singapore plans to expand the MRT network to 360km by 2030. China is investing some 2.2. trillion yuan in its express and urban railway infrastructure from 2019 to 2025. The United States is largely focused on automobiles rather than on rail investments.

Major Players in the Global Public Transportation

The report titled "Global Public Transport and Railways Market Report" by Market Research Intellect has explored the expansion plans, strategies, investments, progress, regulations, standards, and policies in the transportation sector. The report identifies major market players and fundamental market growth trends. Market Research Intellect analysed markets acr??? N?rth?m?r???,?ur???,????-????f??, L?t?n?m?r???,?nd??ddl????t for this report.

According to the report, some of the major players that are showing stellar growth record in the public transportation sector are SMRT Corporation, Prasarana Malaysia Berhad, SBS Transit, Keretapi Tanah Melayu Berhad (KTMB), and MRT Corp.

SMRT Corporation is Singapore’s premier multi-modal public transport provider. It offers transport MRT services, public bus services, light rail systems, private car services, and premium bus transportation services. Commenting on the company’s growth and future projects, SMRT CEO Neo Kian Hong said: "With a strong foundation in our core businesses, we can look forward to greater growth in a sunrise industry made up of an expanding rail network in Singapore, and increasing mobility needs in a growing region."

SBS Transit Ltd. is another multi-modal public transport operator in Singapore. SMRT and SBS Transit together operate the MRT lines of the country.

Keretapi Tanah Melayu Berhad is the main rail operator in Peninsular Malaysia. Prasarana Malaysia Berhad offers urban rail services in Malaysia, including the LRT networks, the KL Monorail, and the MRT line. Mass Rapid Transit Corporation is a corporate body established by the Ministry of Finance. It manages the Mass Rapid Transit project in Kuala Lumpur.

Conclusion

The governments around the world are focusing on minimizing the use of private vehicles and limiting emissions. Rail is viewed as the mobility backbone of the future. The nation’s governmental and public transport operators are working together to improve rail infrastructure and help people commute safely, efficiently, and reliably. SMRT, SBS Transit, Prasarana Malaysia Berhad, Keretapi Tanah Melayu Berhad (KTMB), and MRT Corp are leading from the front and setting an example for other countries on how to make public transportation the first choice among citizens.

Noella Goh is a sub-editor with a leading Singaporean magazine. In her free time, she likes to write about Singaporean lifestyle, cities, amenities, and transportation. From the Asian culture, Metro Manila, to Smrt services,