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Buses Market To Reach $144.42Bn By 2033 | CAGR: 5.8%

Buses Market To Reach $144.42 Billion By 2033 | CAGR: 5.8%

December 2025 | Report Format: Electronic (PDF)

Buses Market Growth & Trends

The global buses market size is expected to reach USD 144.42 billion by 2033, registering a CAGR of 5.8% from 2026 to 2033, according to a new report by Grand View Research, Inc. The market is propelled by the significant growth in the Asia Pacific and Europe. The economic growth and evolution of public transportation in the emerging countries, are contributing to the strong growth of the market. In Europe, the liberalization of the bus market in 2013 in Germany impacted the market in the country as well as other countries. The European bus operator companies’ expansion in other regions is anticipated to fuel the global market. For instance, BlaBlaCar, formerly known as Ouibus, has announced the acquisition of Octobus in Ukraine. With this acquisition, the company aims to support digitization for bus carriers outside Europe, where most of the distribution is still being carried by an offline channel.

The COVID-19 pandemic had a negative impact on the global market in 2020. Various governments across the world imposed strict lockdowns and travel restrictions to curb the spread of the disease. As a result of the pandemic, restrictions, and lockdowns imposed by governments led to a sharp decline in the passengers traveling intercity for business or tourism purposes. Many people preferred to stay home, and/or travel by personal vehicle in case of emergency, impacting the market worldwide. However, the market is anticipated to grow slowly and steadily over the next few years, yet with uncertainties and half occupancy due to the emergence of new COVID-19 strains.

Online segment is projected to register a CAGR of 11.9% from 2022 to 2028 owing to the increasing use of smartphones and other devices, coupled with rising penetration of internet services to give a boost to the market growth. Additionally, emerging new platforms providing online booking services are attributed to the segment growth. For instance, as published on 9^th August 2021, Redbus is planning to expand its international business with expansion plans in Vietnam, Thailand, and Turkey.

The Asia Pacific region accounted for more than 50% of the market revenue share in 2021 in the global market. This high market revenue share is primarily credited to the large population of the region, where the main source of intercity travel is by bus. According to the United Nations data, by the end of 2020, Asia Pacific was home to nearly 60% of the global population. Additionally, due to the lack of railway connectivity to the remote areas, and low ownership of personal vehicles, intercity buses are preferred highly for long-distance travel and are credited for the higher market share.

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Buses Market Report Highlights

By propulsion, the ICE segment led the market with the largest revenue share of 63.8% in 2025. The ICE segment continues to witness growth in the buses industry due to its cost-effectiveness, operational reliability, and widespread fueling infrastructure
By seating capacity, the 31-50 seats segment led the market with the largest revenue share of 55.4% in 2025. The 31-50 seats segment is growing steadily due to its optimal balance between passenger capacity, operational efficiency, and route versatility.
Asia Pacific dominated the global buses market with the largest revenue share of 42.9% in 2025. This is credited to the region’s increasing population, expansion of road construction, and developments in the tourism sector