Rail Travel : Market Research Report

Rail Travel

Published by: Key Note Publications Ltd

Published: May. 1, 2008 - 146 Pages

Executive Summary
1. Market Definition: REPORT COVERAGE; MARKET SECTORS; MARKET TRENDS; ECONOMIC TRENDS; MARKET POSITION
2. Market Size: BY MARKET SECTOR
3. Industry Background: RECENT HISTORY; INDUSTRY STRUCTURE; NUMBER OF COMPANIES; EMPLOYMENT; REGIONAL VARIATIONS IN THE MARKETPLACE; DISTRIBUTION; HOW ROBUST IS THE MARKET?; LEGISLATION
4. Competitor Analysis: THE MARKETPLACE; MARKET LEADERS; OUTSIDE SUPPLIERS; MARKETING ACTIVITY
5. Strengths, Weaknesses, Opportunities and Threats: STRENGTHS; WEAKNESSES; OPPORTUNITIES; THREATS
6. Buying Behaviour: TRAVEL PATTERNS OF RAIL PASSENGERS
7. Current Issues: REGULATORY ISSUES; RAILWAY INVESTMENT; IMPACT OF OTHER LEGISLATION; SECURITY and INTERNATIONAL TERRORISM; TECHNOLOGICAL ISSUES; ENVIRONMENTAL ISSUES; CORPORATE ACTIVITY
8. The Global Market: EUROPEAN COMPARISONS; CURRENT DEVELOPMENTS
9. Forecasts: ECONOMIC FORECASTS; FORECASTS 2008 to 2012; FUTURE TRENDS
10. Company Profiles: Arriva Plc; Eurostar (uk) Ltd; Firstgroup Plc; The Go-ahead Group Plc; London Underground Ltd; National Express Group Plc; Network Rail Ltd; Northern Ireland Railways Company Ltd; Stagecoach Group Plc; virgin Rail Group Holdings Ltd
11. Further Sources: Associations; Publications; General Sources; Government Publications; Other Sources; Bisnode Sources

Abstract

In the year ending March 2007, the passenger receipts of the UK market for rail travel amounted to £7.37bn, an increase of 11.4% compared with turnover of £6.61bn in the previous year. This was largely due to a 12.1% rise in the turnover of the national rail sector, although urban rail services also reported healthy growth (of 9%) over the same period, while Northern Ireland Railways' turnover increased by 21.5%.

The UK passenger rail sector is defined to include the services provided on the national rail system by the infrastructure provider, Network Rail, and the train operating companies (TOCs) under franchise, concession and open-access arrangements, as well as the services provided by Northern Ireland Railways. It also includes services offered by urban rail systems, including London Underground and other metro and light rail operators, and the international services provided by Eurostar and the Eurotunnel Passenger Shuttle. The activities of preserved railways — which are regarded more as tourist attractions than transport operations — are not covered in this Key Note Market Report. The UK rail travel market is also analysed in terms of journey purposes, including journeys to work and trips made for business, shopping, leisure or other reasons.

Since 2003, there has been a significant recovery in demand for rail travel. Economic growth and increasing road congestion have facilitated this development; however, the increase in passenger receipts is largely attributable to fare rises, which were considerably higher than the rate of increase in the retail price index (RPI). The urban rail sector is dominated by the largest UK urban railway operator, the London Underground, which, although it has a far higher annual turnover than any single TOC, has not been growing as rapidly as other operators. Across the sector as a whole, revenues have been growing at a faster rate than travel demand — measured by the number of journeys and passenger kilometres (pkms) travelled.

In terms of legislation and the activities of the regulatory authorities, the public sector has exerted a major influence on the financial performance of the rail travel industry and in the perception of the travelling public. In 2007, significant changes were made to the allocation of franchises to the TOCs, in line with the Government's aim to reduce the number of franchises and to create a closer match between these franchises and Network Rail's route structure. New franchises were created, including East Midlands Trains, London Midland, London Overground, National Express East Coast and CrossCountry, following the earlier steps towards the implementation of this policy that were taken in April 2006, with the creation of the Capital Connect and Greater Western franchises.

Despite some signs of a slowdown in the UK economy growth rate, the macro-economic environment is generally favourable to the continued growth of the UK rail passenger market. Travel on urban railways and international services is predicted to grow more slowly than travel on the national network, with capacity constraints limiting growth on the London Underground, and international services continuing to be affected by competition from short-haul sea ferry operators and low-cost airlines.

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Rail Travel

Table of Contents

Abstract