Bus Tickets - Chile | Statista Market Forecast

Chile is projected to see a revenue of US$201.70m in the Bus Tickets market by 2024, with an expected annual growth rate (CAGR 2024-2029) of 4.01%, reaching a market volume of US$245.60m by 2029.
By this time, the number of users is expected to amount to 3.21m users.
The projected user penetration rate is 14.7% in 2024 and 16.2% by 2029.
The average revenue per user (ARPU) is expected to be US$70.01.
Online sales are predicted to generate 79% of total revenue by 2029.
When compared globally, China is projected to generate the most revenue, with US$5bn in 2024.
Chile's bus market is experiencing a shift towards more environmentally friendly vehicles, with a growing demand for electric and hybrid buses.

Definition:

The Bus tickets market consists of tickets for long-distance travel or cross-regional travel by bus or coach. This includes country-specific providers of bus transport, e.g., Eurolines, National Express and Greyhound. As a rule, travel for single passengers and groups or time-limited subscription-based travel can be booked up to a year in advance. Tickets for public transport, for within a city or other local travel are not included.

Additional Information:

The main performance indicators of the Bus tickets market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

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Tickets for long-distance travel or cross-regional travel by bus or coach
Time-limited subscription based travel
Line service and regular, scheduled bus service
All online and offline booked long-distance bus tickets regardless of the purchase channel

Tickets for public transport, for within a city or other local travel
Bus trips that are organized as an excursion or specifically for a travel group

The Buses market in Chile has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Buses market in Chile have shifted towards more environmentally friendly and fuel-efficient vehicles. With increasing concerns about climate change and rising fuel prices, customers are looking for buses that are not only cost-effective but also have a lower carbon footprint. This has led to a growing demand for electric and hybrid buses in the country. Additionally, customers are also looking for buses that offer comfort, safety, and advanced technological features. One of the key trends in the Buses market in Chile is the adoption of electric buses. The government has been actively promoting the use of electric vehicles as part of its efforts to reduce greenhouse gas emissions. This has led to the implementation of various incentives and subsidies for electric bus operators, which has further fueled the demand for electric buses in the country. As a result, many bus manufacturers have started to introduce electric models into their product portfolios to cater to this growing market. Another trend in the Buses market in Chile is the increasing use of digital technology in buses. Customers are now demanding buses that are equipped with advanced features such as Wi-Fi connectivity, GPS navigation systems, and real-time passenger information systems. This trend is driven by the growing need for connectivity and convenience among passengers, as well as the desire of bus operators to improve operational efficiency and provide a better customer experience. Local special circumstances in Chile have also contributed to the growth of the Buses market. The country has a well-developed public transportation system, with buses being the primary mode of transport for many people. The government has been investing heavily in the expansion and modernization of the public transportation infrastructure, which has created a favorable environment for the bus industry. Additionally, Chile has a strong manufacturing sector, which has attracted many bus manufacturers to set up production facilities in the country. Underlying macroeconomic factors have also played a role in the development of the Buses market in Chile. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and a higher demand for transportation services. Additionally, favorable government policies and regulations have created a conducive business environment for bus manufacturers and operators. In conclusion, the Buses market in Chile is witnessing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards more environmentally friendly and technologically advanced buses, the adoption of electric buses, the use of digital technology, the well-developed public transportation system, and the favorable business environment have all contributed to the development of the market in Chile.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of bus tickets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

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