GVR Report cover Buses Market Size, Share & Trends Report

Buses Market Size, Share & Trends Analysis Report By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2022 - 2028

  • Report ID: GVR-4-68039-930-1
  • Number of Report Pages: 70
  • Format: PDF, Horizon Databook
  • Historical Range: 2017 - 2020
  • Forecast Period: 2022 - 2030 
  • Industry: Technology

Report Overview

The global buses market size was valued at USD 13.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.7% from 2022 to 2028. The market is significantly driven by the developments and investments in the transport area in the emerging countries including, India, China, Brazil, etc. Improving public transportation sector and expansion of road network across these countries is increasing the accessibility of the buses by passengers for intercity travel. Government initiatives are also creating favorable conditions fueling market growth. For instance, as published on 16th March 2021, China is planning to extend the total length of its national expressway by almost 50% by 2035. Furthermore, local tourism development is also likely to boost market growth.

U.S. buses market size, by distribution channel, 2019 - 2028 (USD Billion)

The global market was negatively impacted by the COVID-19 pandemic across the world. As a precaution, public events, travel, and gatherings were banned during the pandemic. People preferred to stay at home as a precaution, except for emergencies. This resulted in a decline in the intercity travel passenger numbers worldwide. According to the Google mobility data, passenger visits to the bus services and terminals fell by 80% in the IGC countries during the lockdown. This number is recovering slowly and intercity buses are running, however not at full capacity. The market growth is expected to witness a steady and slow recovery in the forecast period.

The global market growth is supported by developments in the tourism sector. The improvements in the tourism sector are expected to increase the passenger traffic in the intercity bus transportation and drive the passenger revenue in the forecast period. For instance, in India, 2018 marked the inauguration of the world’s tallest statue in Gujarat. This resulted in the rise in the tourist traffic in the area and facilitated the demand for intercity buses.

Besides, the market growth is majorly restrained by the growth of the passenger cars market. Increasing affordability and increasing purchasing power is encouraging consumers to purchase personal cars and SUVs. This is subsequently expected to affect the consumer preference for buses for intercity travel and decline in revenue generation. Additionally, affordable air travel is also hampering the further growth of the bus market.

In the global market, online ticketing is expected to present a promising opportunity for the key market players. The use of digital technology and apps is expected to rise tremendously in the forecast period. Moreover, a shift in consumer profile is anticipated to influence consumer preference over the forecast period. Consumer preference, on the account of convenience, comfort, and quick facility, for online booking is increasing.

Moreover, the trend of electric buses for intercity, long-distance travel is expected to rise over the forecast period. Increasing environmental pollution caused by travel and transport is encouraging various governments and service providers to launch electric bus services to tackle the problem of rising pollution. For instance, in the U.S., as reported in 2019, long-distance electric bus fleets are being introduced for transportation. Flixbus, service provider, and MCI, bus manufacturer carried out the test run of the first pilot of a long-distance electric bus.

Distribution Channel Insights

On the basis of distribution channel,  the offline channel held over 85% of the market revenue share and is expected to maintain its dominance with a projected CAGR of 9.3% during the forecast period. The growth is significantly attributed to the higher consumer preference for the traditional booking systems in the countries in the Asia Pacific and other emerging countries. Also, the majority of the service providers of intercity bus travel offer ticket booking via an offline channel. The lack of widespread access to cutting-edge distribution technology for the consumers as well as the bus fleet owners is resulting in a higher market revenue share of the offline channel.

Online segment of distribution channel is projected to register a CAGR of 11.9% from 2022 to 2028 and is expected to witness robust growth over the forecast period. The growth of the segment is significantly credited to the technological advancement in the bus market and booking app technology. Additionally, the expansion of the key players providing online services in the new emerging markets is expected to increase consumer accessibility. This is ultimately anticipated to drive the online segment growth over the forecast period. For instance, GoGoBus, a startup based in India serving since January 2020, has built a TaaS platform. The platform will help streamline intercity bus travel from demand visibility to seat bookings.

Regional Insights

The Asia Pacific accounted for the largest market revenue share of more than 50% in 2021 and is expected to register strong growth during the forecast period. The largest market revenue share of the region is significantly attributed to the higher population, contributed majorly by India and China. Moreover, consumer preference for public transportation in the region is higher, since it is cost-effective compared to the other means of travel. Moreover, the widespread availability of the bus services in the region and lack of railway connectivity to the remote areas also attributed to the higher market share of the region.  

Global buses market share, by region, 2021 (%)

Europe is estimated to witness 2nd highest growth rate in the forecast period. The region is anticipated to register a CAGR of 9.8% from 2022 to 2028 in the global buses market. The growth of the regional market is significantly attributed to the increasing population and immigration in the region from other developing economies over the forecast period. Moreover, the expansion of the key service providers in the region is expected to drive the passenger traffic and propel the growth of the segment. For instance, the liberalization of the German bus market in 2013 has resulted in a significant increase in the intercity bus numbers and long-distance travelers in Germany, as well as the neighboring countries. Additionally, government initiations, developments in the electric buses sector, and expansion of road networks are attributable to the regional market growth.

Key Companies & Market Share Insights

The global market is highly fragmented with small and local operators playing an important role. Key companies focus on the expansion to a new emerging market to strengthen their market share. For instance, FlixBus, a German intercity bus operator, was planning to enter India’s intercity bus market as published in December 2019, and recently Flixbus India Private Limited was incorporated in February 2020. Companies are also keen on merger and acquisition activities to expand their customer base and market presence. For instance, on 14th December 2021, National Express Group plc and Stagecoach Group plc agreed to GBP 437 Mn merger. Some prominent players in the global buses market include:

  • FirstGroup plc.

  • National Express Group plc.

  • Stagecoach Group plc.

  • Transdev

  • Central Japan Railway Company

  • Group Keolis SAS

  • RegioJet A.S.

  • MTR Corporation Limited

  • Go Ahead Group plc

Buses Market Report Scope

Report Attribute


Market size value in 2022

USD 14.7 billion

Revenue forecast in 2028

USD 26.0 billion

Growth Rate

CAGR of 9.7% from 2022 to 2028

Base year for estimation


Historical data

2017 - 2020

Forecast period

2022 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; China; India; Japan; Brazil; Argentina; Saudi Arabia; South Africa

Key companies profiled

FirstGroup plc.; National Express Group plc.; Stagecoach Group plc.; Transdev; Central Japan Railway Company; Group Keolis SAS; RegioJet A.S.; MTR Corporation Limited; Go Ahead Group plc

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global buses market report based on distribution channel, and region:

  • Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)

    • Online

    • Offline

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

gvr icn


gvr icn

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

gvr icn


We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now

Certified Icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.