The Intercity Bus Travel market is poised to reach a valuation of US$ 16.86 Billion in 2022. Sales are projected to increase at a ~7 % CAGR, with the market size reaching US$ 25 Billion by 2032.
In some countries, transportation by trains is expensive, but faster than that of buses. Because of this difference, travelers choose trains over bus. But when economic travelling and overall comfort is considered, travelling by buses is the best options. Many bus travelling companies are giving travelers lots of facilities during travel, making the tour comfortable and unique.
Use of buses as a daily public transportation is common worldwide. But use of buses as an intercity travelling medium is not much appreciated, because of trains. The intercity bus services can become important part of bus travelling system, as most of the traveling in core regions of cities are usually done by buses. The train transportation cannot cover all the regions and other transportation is the only option for access to them.
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Frequent intercity travelers can consider using buses, as most of the service providers are giving loyalty discounts and offers, and train services are not giving any. In some countries, both train and bus transport services work in sync, making it easier to change modes of transport, maximizing functionality and, thus getting full support from travelers.
Key Takeaways from the Intercity Travel Market Study:
- The North America, Europe and Asia Pacific regions hold a market share of ~26%, ~20% and ~17% respectively.
- The Covid-19 pandemic had a 40% impact on the value of the Intercity bus travel sector.
- Japan, UK and USA have most luxurious and popular Intercity buses, widely used by both domestic and international travellers.
- Online booking channels are leading for the booking of intercity bus tickets.
“Relatively cheap and number of services provided to travellers are the main factors making people choose Inter-City buses over trains for long haul travelling.” – FMI Analyst said.
Impact of COVID-19
The COVID-19 pandemic impacted the public transportation sector harshly. Due to the lockdown and further restrictions of public gatherings led to complete closure of public transportation mediums. The intercity traveling companies suffered huge loss, as there was no travelers group to utilize their services. Even after lockdown, the restrictions and rules about travelling to different regions and using public amenities were the main challenges in front of the intercity bus sector.
Post the pandemic, as tourism and businesses again started, there was resurgence in use of intercity buses. The most common users of intercity travelling services are tourists and working people having field working as a profession.
Who is winning?
By providing multiple options including type of bus, bus seats and ticket prices according to them and discounts on advanced booking and other promotional offers, Intercity bus providers are gaining popularity among frequent travellers. Some of the service providers work along with tourism companies, which helps both the businesses and keeps tourists comfortable during their tours.
The key players in this sector are OneBus, Academy Bus, Green Tortoise, Flixbus, Limoliner, Central Greyhound Lines, JR Group Japan, Miller Express, Keio Bus, BlaBlaBus, Rapid Penang, Ceres Liner, Busbiz, etc.
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Future Market Insights, in its new offering, provides an unbiased analysis of the intercity bus travel market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022 to 2032.
The study divulges compelling insights on the Intercity Bus Travel Market Based on Bus Type (Non-Sleeper, Sleeper, Semi Sleeper, Air Bus), By Booking Channel (Online Booking, Phone Booking, and Direct Booking), By Tourist Type (Domestic and International), By Tour Type (Independent Traveller, Package Traveller, and Tour Group), By Consumer Orientation (Men and Women), By Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, and 66- 75 Years) & Region – Forecast to 2017 – 2032.
The Intercity Bus Travel Sector by Category
By Bus Type:
- Non Sleeper
- Sleeper
- Semi-Sleeper
- Air Bus
By Booking Channel:
- Online Booking
- Phone Booking
- Direct Booking
By Tourist Type:
- Domestic
- International
By Tour Type:
- Independent Traveller
- Package Traveller
- Tour Group
By Consumer Orientation:
- Men
- Women
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
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