Bus Tickets - LATAM | Statista Market Forecast

Revenue in the Bus Tickets market is projected to reach US$3.49bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.62%, resulting in a projected market volume of US$3.98bn by 2029.
In the Bus Tickets market, the number of users is expected to amount to 64.70m users by 2029.
User penetration is projected to be 9.0% in 2024 and 9.8% by 2029.
The average revenue per user (ARPU) is expected to amount to US$61.03.
In the Bus Tickets market, 56% of total revenue will be generated through online sales by 2029.
In global comparison, most revenue will be generated China (US$5bn in 2024).

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 LATAM has been experiencing significant growth in recent years, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the LATAM region have been shifting towards more sustainable and environmentally-friendly modes of transportation. As a result, there has been an increased demand for buses that run on alternative fuels, such as natural gas and electricity. This shift is driven by a growing awareness of the environmental impact of traditional diesel-powered buses, as well as government incentives and regulations promoting the use of cleaner technologies. Trends in the market also play a crucial role in the development of the Buses market in LATAM. One notable trend is the increasing urbanization in the region, which has led to a higher demand for public transportation. As more people move to cities, the need for efficient and reliable bus systems becomes paramount. This trend is particularly evident in countries with large metropolitan areas, such as Brazil and Mexico. Another trend in the market is the adoption of smart technologies in buses. This includes features such as GPS tracking, real-time passenger information systems, and contactless payment options. These technologies not only enhance the overall passenger experience but also improve operational efficiency for bus operators. The integration of smart technologies is driven by advancements in connectivity and the increasing digitization of transportation systems. Local special circumstances also influence the development of the Buses market in LATAM. For example, some countries in the region have implemented policies to encourage the use of public transportation, such as dedicated bus lanes and congestion charges. These measures aim to reduce traffic congestion and improve air quality in urban areas. Additionally, the availability of government subsidies and financing options for bus operators can also impact the market dynamics. Underlying macroeconomic factors, such as GDP growth and population dynamics, also play a significant role in the development of the Buses market in LATAM. As the region continues to experience economic growth, there is an increased demand for public transportation services. Furthermore, population growth, particularly in urban areas, creates a larger customer base for bus operators. In conclusion, the Buses market in LATAM is developing in response to customer preferences for more sustainable transportation options, trends such as urbanization and the adoption of smart technologies, local special circumstances including government policies and subsidies, and underlying macroeconomic factors such as GDP growth and population dynamics. These factors collectively contribute to the growth and evolution of the Buses market in the LATAM region.

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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