1992 in rail transport

January events

 * January 1 – After Estonia regained its independence, the national railway company Eesti Raudtee is established.

March events

 * March 3 – The Podsosenka train disaster near Nelidovo, Tver Oblast in Russia kills 43.

April events

 * April 1 – Opening of the Keisei Chihara Line from Keisei Chiba Station to Ōmoridai Station.
 * April 3 – The Goderich Exeter Railway begins operations in Ontario, Canada.
 * April 3 – The new light rail system in Baltimore, Maryland, USA, opens for service on a very limited basis, running only on days with baseball games at a new Camden Yards stadium station it serves, and only for a period of about 2 hours before and after each game (see May 17).
 * April 6 – The first section of Manchester Metrolink, in Manchester, England, opens.
 * April 14 - The Madrid-Seville AVE line opens

May events

 * May 12 – Republika Srpska Railways formally established.
 * May 17 – Regular service begins on the new Baltimore Light Rail system (see April 3).

July events

 * July 1 – JR East introduces the Yamagata Shinkansen, the first mini-shinkansen service, on the Ōu Main Line connecting Fukushima and Yamagata.

August events

 * August 27 – The 3200-series rapid transit cars (3201–3457), built by Morrison-Knudsen of Hornell, New York, are placed in service on the Chicago "L" system, retiring the last of the old 6000-series cars from the 1950s. The 3200-series cars are operated on the Ravenswood Line, and eventually, the upcoming Midway Airport Line the following year.

October events

 * October 26 – Southern California's Metrolink opens.
 * October – Public rail transport in Jamaica ceases operation.

December events

 * December 20 – Western Australian Premier Carmen Lawrence opens three stations on the new Joondalup line, an extension to the Transperth rail network.
 * December 23 – Nuevo Central Argentino is granted a concession to operate freight trains over former Ferrocarriles Argentinos tracks in and around Buenos Aires.

Unknown date events

 * General Motors Electro-Motive Division introduces the EMD SD70.
 * Paul Tellier is appointed to the presidency of Canadian National.
 * Wisconsin & Calumet Railroad is acquired by the Wisconsin & Southern Railroad
 * Amtrak commissions three prototype RoadRailers for testing behind regular revenue passenger trains.
 * South African Railways ceases use of steam locomotives (other than Outeniqua Choo Tjoe tourist operation).
 * Indian Railways introduces 'women only' trains on Mumbai Western and Central suburban lines
 * Voralpen Express in Switzerland given this name.
 * Buses replace streetcars along the Girard Avenue Line in Philadelphia – rail service would not be restored for thirteen years.

October deaths

 * October 19 – H. Reid, prominent railroad photographer and historian (b. 1925).