Bus Tickets - Guatemala | Statista Market Forecast

Guatemala is expected to witness a noteworthy growth in the Bus Tickets market revenue, which is projected to reach US$16.57m by 2024.
The revenue is further expected to grow annually at a rate of 3.28% between 2024-2029, leading to an estimated market volume of US$19.47m by 2029.
As for the number of users, the Bus Tickets market is predicted to have 706.30k users users by 2029.
The user penetration rate is projected to increase from 3.1% in 2024 to 3.6% by 2029.
The average revenue per user (ARPU) is expected to remain steady at US$28.70.
Furthermore, it is estimated that 51% of the total revenue in the Bus Tickets market will be generated through online sales by 2029.
It is worth noting that in comparison to other countries, China is expected to generate the highest revenue in the Bus Tickets market, with a projected revenue of US$5bn in 2024.
Guatemala's bus market is dominated by colorful chicken buses, despite efforts to introduce modern transportation options.

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 Guatemala has been experiencing steady growth in recent years, driven by several key factors. Customer preferences for reliable and affordable transportation options, along with local special circumstances and underlying macroeconomic factors, have contributed to the development of this market. Customer preferences in Guatemala play a significant role in the growth of the Buses market. Many Guatemalans rely on buses as their primary mode of transportation due to their affordability and accessibility. Buses provide a cost-effective solution for daily commuting and long-distance travel, especially for individuals who cannot afford private vehicles. Additionally, buses are often seen as a safer alternative to motorcycles or other forms of transport. Trends in the market also contribute to its development. One notable trend is the increasing demand for eco-friendly buses. As environmental concerns continue to gain importance worldwide, Guatemala is no exception. The government has implemented policies and regulations to promote the use of clean energy and reduce carbon emissions. As a result, there is a growing demand for buses that run on alternative fuels or have low emissions. This trend presents an opportunity for bus manufacturers and operators to cater to the changing preferences of customers and align with the country's sustainability goals. Another trend in the Buses market in Guatemala is the integration of technology. Bus companies are adopting digital solutions to improve operational efficiency and enhance the overall customer experience. For example, some buses now have GPS tracking systems that allow passengers to track their bus in real-time, reducing wait times and improving convenience. Additionally, mobile ticketing apps are becoming increasingly popular, enabling passengers to purchase tickets online and avoid long queues at bus terminals. These technological advancements not only benefit customers but also help bus operators streamline their operations and reduce costs. Local special circumstances also contribute to the development of the Buses market in Guatemala. The country's geography, with its diverse terrain and challenging road conditions, makes buses a practical choice for transportation. Buses are designed to navigate through narrow and winding roads, making them suitable for both urban and rural areas. Additionally, the high population density in certain regions of Guatemala makes buses an efficient mode of transport, as they can accommodate a large number of passengers at once. Underlying macroeconomic factors also play a role in the development of the Buses market in Guatemala. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, more people are able to afford bus tickets, leading to higher demand for bus services. Additionally, the government's investment in infrastructure development, such as road expansions and improvements, has facilitated the growth of the Buses market by making transportation more efficient and accessible. In conclusion, the Buses market in Guatemala is developing due to customer preferences for affordable and reliable transportation, the adoption of eco-friendly and technological advancements, local special circumstances, and underlying macroeconomic factors. As these factors continue to shape the market, there are opportunities for bus manufacturers and operators to cater to the evolving needs of customers and contribute to the growth of the industry.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.