The global buses market was valued at USD 13.6 billion in 2021 and is projected to reach USD 26.0 billion by 2028, growing at a CAGR of 9.7% from 2022 to 2028. Market growth is driven by significant developments and investments in the transportation sector across emerging economies such as India, China, and Brazil.
Improvements in public transportation infrastructure and the expansion of road networks are increasing the accessibility and convenience of buses for intercity travel. Government initiatives are also creating favorable conditions for market growth. For example, as reported on 16th March 2021, China plans to extend the total length of its national expressway network by nearly 50% by 2035. Additionally, growth in local tourism is expected to further boost market demand.
Key Market Trends & Insights
- Asia Pacific accounted for the largest market share, contributing more than 50% of global revenue in 2021.
- Europe is expected to register the second-highest growth rate during the forecast period.
- Distribution channel: The offline segment dominated the market, accounting for over 85% of revenue.
- The online distribution segment is projected to grow at a CAGR of 11.9% from 2022 to 2028.
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Market Size & Forecast
- 2021 Market Size: USD 13.6 Billion
- 2028 Projected Market Size: USD 26.0 Billion
- CAGR (2022–2028): 9.7%
- Asia Pacific: Largest regional market in 2021
Competitive Landscape
The global buses market is highly fragmented, with numerous small and local operators playing a crucial role. Key companies are focusing on expanding into emerging markets to strengthen their presence. For instance, FlixBus, a German intercity bus operator, planned to enter India’s intercity bus market as reported in December 2019, and FlixBus India Private Limited was incorporated in February 2020.
Companies are also engaging in mergers and acquisitions to expand their customer base and market footprint. For example, on 14th December 2021, National Express Group plc and Stagecoach Group plc agreed to a GBP 437 million merger.
Key players include:
- FirstGroup plc.
- National Express Group plc.
- Stagecoach Group plc.
- Transdev
- Central Japan Railway Company
- Group Keolis SAS
- RegioJet A.S.
- MTR Corporation Limited
- Go Ahead Group plc
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Conclusion
The buses market is poised for robust growth, supported by infrastructure development, government initiatives, and rising intercity travel demand in emerging economies. Increasing investments, expansion into new markets, and strategic mergers and acquisitions are expected to continue shaping the competitive landscape globally.
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