Bus Tickets - NAFTA

NAFTA

Highlights

It is projected that the revenue in NAFTA's Bus Tickets market will reach US$2.77bn by the year 2024.
Furthermore, a yearly growth rate of 1.70% is expected from 2024 to 2029, resulting in a projected market volume of US$3.01bn by 2029.
The number of users in this market is also expected to increase to 44.72m users by 2029.
The user penetration is projected to be 7.8% in 2024 and 8.5% by 2029.
The average revenue per user (ARPU) is anticipated to be US$69.51.
In addition, it is expected that 58% of the total revenue in this market will be generated through online sales by 2029.
Finally, in comparison to other countries, it is projected that China will generate the most revenue in this market, with US$5bn in the year 2024.
The demand for electric buses is growing in NAFTA countries, with Canada leading the way in implementing sustainable transportation solutions.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Buses market in NAFTA 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 NAFTA have been shifting towards more sustainable and environmentally-friendly options. As concerns about climate change and air pollution continue to grow, customers are increasingly looking for buses that are powered by alternative fuels such as electricity or natural gas. This shift in preferences is driven by a desire to reduce carbon emissions and improve air quality in urban areas. Additionally, customers are also demanding buses that are more fuel-efficient and have lower operating costs, as these factors can have a significant impact on the profitability of bus operators. Trends in the Buses market in NAFTA have also played a role in its development. One major trend is the increasing adoption of electric buses. As technology improves and the cost of batteries decreases, electric buses are becoming a more viable option for bus operators. Electric buses offer several advantages, including lower operating costs, reduced emissions, and quieter operation. In response to this trend, many bus manufacturers in NAFTA have started to offer electric bus models and are investing in research and development to further improve the technology. Another trend in the Buses market in NAFTA is the growing demand for smaller, more agile buses. As urbanization continues to increase, cities are becoming more congested and crowded. This has led to a need for buses that can navigate narrow streets and tight corners, as well as provide more frequent and flexible service. Bus manufacturers in NAFTA have responded to this trend by developing smaller buses that are better suited for urban environments. These buses are often equipped with advanced technology such as GPS navigation systems and real-time passenger information systems to improve efficiency and customer satisfaction. Local special circumstances in the Buses market in NAFTA have also influenced its development. In Mexico, for example, the government has implemented policies to promote the use of public transportation and reduce private car ownership. This has created a favorable environment for the growth of the Buses market, as more people are opting to use buses for their daily commute. In the United States, on the other hand, there has been a growing interest in bus rapid transit (BRT) systems as a way to alleviate traffic congestion and improve public transportation options. This has led to increased investment in BRT infrastructure and the procurement of new buses. Underlying macroeconomic factors have also played a role in the development of the Buses market in NAFTA. Economic growth in the region has led to increased urbanization and population growth, which in turn has increased the demand for public transportation. Additionally, government initiatives and incentives to promote sustainable transportation have also contributed to the growth of the Buses market. These factors, combined with the customer preferences and trends mentioned earlier, have created a favorable market environment for bus manufacturers and operators in NAFTA. In conclusion, the Buses market in NAFTA has been developing rapidly due to shifting customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for more sustainable and fuel-efficient buses, as well as smaller and more agile models, has driven innovation in the market. Government policies and initiatives have also played a role in promoting the growth of the market. Overall, the Buses market in NAFTA is expected to continue growing in the coming years as the region continues to urbanize and prioritize sustainable transportation options.

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.