12-Jun-2020 | Facts and Factors
Findings from Facts and Factors report “Bus Services Market By Type (Light and Medium Type and Large Type) and Application (Urban Transport, Long Distance Transport, and Specialist Services): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Bus Services market in 2019 was approximately USD 8,700 Million. The market is expected to grow above a CAGR of 4.0% and is anticipated to reach over USD 11,000 Million by 2026.
Bus services have become an important part of the urban lifestyle. A large number of population in the urban parts of the world rely on private as well as public bus services offered. Urban bus services include offering bus services in urban parts of the city and urban to suburbs. Express bus services are buses that commute faster than normal buses with fewer few stops between its journey. With constant development in bus services, the number of new routes added to the existing network has increased significantly in the last decade, this has improved the flexibility of bus transits. Private bus services have played a key role in the development of urban bus services. The planning of bus services in a part of the city depends on the number of users that will use the new route services. With growing population density in urban parts of the world, the number of new routes added to the existing route services is expected to increase.
Browse the full “Bus Services Market By Type (Light and Medium Type and Large Type) and Application (Urban Transport, Long Distance Transport, and Specialist Services): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/bus-services-market-by-type-light-and-medium-1139
In recent years, the urban bus transport sector has seen a significant rise in the number of commuters on a daily basis. An increase in the number of urban population and growing dependability of lower-middle and low-income families on public transport has been a led to an increase in the number of bus travelers. Moreover, people who shift to cities have been dependent on public transportation rather than buying their own new vehicle. Another key factor that has booted the bus services market is the increasing number of private bus transportation services. Private bus transport services often offer the house to workplace pick and drop services, such service has been opted for by travelers who want to reduce the overall cost of transit. Further, companies around the world also offer bus transportation services to their employees. Such a trend in the urban transport sector has also fueled the bus services market. However, the number of private car owners have also increased in the last few years, owing to rising disposable income, which has also contributed to the increase in the number of car travelers, which may hamper the bus services market growth.
Based on type, the large bus type segment held a major share in the global bus services market in 2019, accounting for a market share of 70%. Bus services providers focus on transferring large numbers of commuters. Large buses are useful in transferring more number of people than light and medium bus type can. This trend in the market has been a key driving factor for the large bus services market. In terms of application, long-distance transport services held a major share of approximately 45% in the global bus services market in 2019. The number of domestic business travels, as well as leisure travelers to various cities, have increased among all type of ages, this has been a key growth driving factor for the global long-distance bus transport services market.
Based on the region, the Asia Pacific segment held the largest share of nearly 30% in the global bus services market n 2019. The urban population density in the Asia Pacific has soared in the last few years owing to a large number of people shifting from rural to urban areas. This has increased the number of bus commuters in the Asia Pacific region, which has increased the revenue generated through bus services agencies.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 8,700 Million |
Projected Market Size in 2026 |
USD 11,000 Million |
CAGR Growth Rate |
4.0% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Beeline, Shuttl, DidiBus, CityFlo, ZipGo, and Others |
Key Segment |
By Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Top key players operating in the market
Beeline, Shuttl, DidiBus, CityFlo, ZipGo, and Others.
This report segments the bus services market as follows:
By Type Segmentation Analysis
- Light and Medium Type
- Large Type
- Urban Transport
- Long Distance Transport
- Specialist Services
By Application Segmentation Analysis
- Urban Transport
- Long Distance Transport
- Specialist Services
By Regional Segmentation Analysis
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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