The Public Bus Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Public Bus Services, The public bus services market size has grown strongly in recent years. It will grow from $238.69 billion in 2023 to $258.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to urbanization and population growth, government investments in public transportation, environmental concerns and sustainability, traffic congestion and commuting challenges, affordability and cost-effective transportation..
The public bus services market size is expected to see strong growth in the next few years. It will grow to $346.66 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to continued urbanization and megacity trends, government commitment to sustainable mobility, focus on emission reduction and air quality improvement, integration with multi-modal transportation, smart city initiatives.. Major trends in the forecast period include hybrid bus models, data analytics for optimization, partnerships with private sector, covid-19 pandemic adaptations, innovations in payment systems..
Government initiatives for public transportation are driving the public bus services market. Governments are promoting public transportation to reduce environmental impact and safer transportation. Both the government and the people benefit from the growing use of public transportation. A cheap and safe form of transportation helps consumers, and the government make money from it. For instance, in March 2022, the UK government provided funding of £150 million ($184.8 million) for local transport services across England. This funding was aimed to support bus and light rail operators so that passengers can continue to travel and these services continue to run as the country emerges from the pandemic. Therefore, government initiatives for public transportation will support the public bus services market.
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The public bus services market covered in this report is segmented –
1) Public Bus Services Market By Type: Light And Medium Type, Large Type
2) Public Bus Services Market By Body Built: Fully Built, Customizable
3) Public Bus Services Market By Fuel Type: Diesel, Electric And Hybrid, Other Fuel Types
4) Public Bus Services Market By Application: Urban Transport, Long Distance Transport, Specialist Services
Top Major players
Transport International Holdings Limited
The Brussels Intercommunal Transport Company
The Berliner Verkehrsbetriebe (BVG)
Major companies operating in the public bus services market are focused on innovating bus services for various destinations such as ski destinations to ease congestion and enhance accessibility. Ski destinations refer to locations popular for skiing and snowboarding activities, typically characterized by snowy landscapes and equipped facilities for winter sports. For instance, in November 2023, Utah Transit Authority (UTA), a US-based multimodal public transportation agency, launched its ski bus service for the 2023/24 season to address traffic congestion leading to Utah’s ski destinations. The service, running will help alleviate frustrations, especially on powder days. Buses will operate every 30 minutes, improving on last season’s frequency. Despite an operator shortage, UTA has made strides in recruitment and retention.
The public bus services market report table of contents includes:
1. Executive Summary
2. Public Bus Services Market Characteristics
3. Public Bus Services Market Trends And Strategies
4. Public Bus Services Market – Macro Economic Scenario
5. Global Public Bus Services Market Size and Growth
……
31. Global Public Bus Services Market Competitive Benchmarking
32. Global Public Bus Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Public Bus Services Market
34. Public Bus Services Market Future Outlook and Potential Analysis
35. Appendix
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