Bus Tickets - Finland | Statista Market Forecast

Finland is projected to see a significant increase in revenue for the Bus Tickets market, with a projected amount of US$123.60m in 2024.
Over the following four years, the market is expected to grow at an annual growth rate of 1.52%, resulting in a projected market volume of US$133.20m by 2029.
Within the Bus Tickets market, the number of users is expected to reach 1.34m users by 2029, with a projected user penetration of 23.0% in 2024 and 24.1% by 2029.
The average revenue per user (ARPU) is expected to be US$96.76.
By 2029, 92% of total revenue in the Bus Tickets market is expected to be generated through online sales.
It's worth noting that China is expected to generate the most revenue in the Bus Tickets market globally, with a projected revenue of US$5bn in 2024.
Finland's bus market is dominated by leading domestic manufacturers such as VDL and Scania, who prioritize environmentally-friendly and technologically advanced vehicles.

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.

For further information on the data displayed, refer to the info button right next to each box.

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 Finland has been experiencing steady growth in recent years. Customer preferences have shifted towards more environmentally friendly and technologically advanced buses, driving the demand for electric and hybrid buses. Additionally, the government's push for sustainable transportation and the availability of subsidies for electric buses have further fueled this trend.

Customer preferences: Customers in the Finnish market are increasingly prioritizing sustainability and environmental friendliness in their transportation choices. This has led to a growing demand for electric and hybrid buses, as they offer lower emissions and reduced fuel consumption compared to traditional diesel buses. The government's efforts to promote sustainable transportation, such as setting ambitious emission reduction targets and providing subsidies for electric buses, have also influenced customer preferences.

Trends in the market: One of the major trends in the Finnish Buses market is the increasing adoption of electric and hybrid buses. This trend is driven by both customer preferences for environmentally friendly transportation options and the government's initiatives to reduce emissions from the transportation sector. Electric and hybrid buses offer lower operating costs and reduced environmental impact, making them attractive for both public transport operators and private companies. Another trend in the market is the integration of advanced technologies in buses. Finnish customers are increasingly demanding buses equipped with features such as Wi-Fi connectivity, USB charging ports, and advanced safety systems. These technological advancements not only enhance the passenger experience but also improve the overall efficiency and safety of bus operations.

Local special circumstances: Finland's geographical location and climate present unique challenges for the Buses market. The country experiences harsh winters with heavy snowfall, which can affect the performance and reliability of buses. As a result, there is a demand for buses that are specifically designed to withstand extreme weather conditions. Finnish customers prioritize buses with robust heating systems, snow tires, and other features that ensure reliable operation in winter.

Underlying macroeconomic factors: The steady growth of the Buses market in Finland can also be attributed to favorable macroeconomic factors. The country has a strong economy and a high standard of living, which has increased the demand for public transportation. The government's investments in infrastructure development and urban planning have also contributed to the growth of the market. Additionally, Finland's commitment to sustainable development and reducing greenhouse gas emissions has created a supportive environment for the adoption of electric and hybrid buses. In conclusion, the Buses market in Finland is experiencing growth due to customer preferences for environmentally friendly and technologically advanced buses. The increasing adoption of electric and hybrid buses, along with the integration of advanced technologies, reflects the evolving needs and expectations of Finnish customers. The government's push for sustainable transportation and favorable macroeconomic factors have further contributed to the growth of the market. However, the unique local circumstances, such as Finland's harsh winters, require buses with specific features to ensure reliable operation in extreme weather conditions.

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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