Bus Tickets - Vietnam | Statista Market Forecast

Vietnam is projected to experience a significant growth in the Bus Tickets market.
By 2024, the projected revenue in the Bus Tickets market is US$446.60m with an expected annual growth rate (CAGR 2024-2029) of 4.04%.
As a result, the projected market volume is expected to reach US$544.50m by 2029.
The number of users in the Bus Tickets market is expected to be 20.76m users by 2029, with a projected user penetration of 17.4% in 2024 and 20.3% by 2029.
The average revenue per user (ARPU) is expected to be US$25.74.
Additionally, it is projected that 43% of the total revenue in the Bus Tickets market will be generated through online sales by 2029.
It is worth noting that in global comparison, the country with the largest revenue in the Bus Tickets market is China, with a projected revenue of US$5bn in 2024.
Vietnam's bus market is growing rapidly due to increased urbanization and government investment in public transportation infrastructure.

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 Vietnam has been experiencing significant growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Vietnam, there is a growing demand for buses due to the increasing urbanization and population growth. As more people move to cities, the need for public transportation becomes crucial. Buses provide an affordable and convenient mode of transportation for both urban and rural areas. Additionally, the government has been promoting the use of public transportation as a way to reduce traffic congestion and air pollution, further driving the demand for buses.

Trends in the market: One of the key trends in the Buses market in Vietnam is the shift towards electric and hybrid buses. With the increasing focus on sustainability and reducing carbon emissions, many bus operators are adopting electric and hybrid buses to meet environmental regulations. This trend is also supported by the government's initiatives to promote the use of electric vehicles in the country. As a result, there has been a gradual increase in the production and adoption of electric and hybrid buses in Vietnam. Another trend in the market is the integration of smart technologies in buses. This includes features such as GPS tracking, real-time passenger information systems, and cashless payment options. These technologies enhance the overall efficiency and convenience of bus services, making them more attractive to customers. Bus operators are increasingly investing in these technologies to improve the quality of their services and provide a better customer experience.

Local special circumstances: Vietnam has a large population, with a significant portion residing in rural areas. This presents a unique challenge for the Buses market, as it requires a diverse range of bus models to cater to different needs. In rural areas, buses are often used for transportation of goods and agricultural produce, in addition to passenger transport. Therefore, bus manufacturers and operators need to consider these specific requirements when designing and providing bus services in Vietnam.

Underlying macroeconomic factors: The economic growth of Vietnam has played a crucial role in the development of the Buses market. As the country's economy continues to expand, there is an increasing need for reliable and efficient transportation infrastructure. The government has been investing in the development of roads and public transportation systems, creating opportunities for bus manufacturers and operators. Additionally, the rising income levels of the population have also contributed to the growth of the Buses market, as more people can afford to travel by bus. In conclusion, the Buses market in Vietnam is growing rapidly due to customer preferences for affordable and convenient transportation options, the adoption of electric and smart technologies, local special circumstances, and the underlying macroeconomic factors. As the country continues to urbanize and the government promotes sustainable transportation, the demand for buses is expected to further increase in the coming years.

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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