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  February 13th, 2023 | Written by

Charter Bus Services Market Size to Reach US$ 27.1 Billion by 2033

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The charter bus services reached a valuation of US$ 18.7 Billion in 2023. Furthermore, across the 2023-2033 period of assessment, growth is expected to accelerate at a whopping 3.8CAGR, reaching US$ 27.1 Billion.

The image above represents market bifurcation based on region and Application. Group charter services hold the leading share of 68.0% in the charter bus services market.

What are the elements influencing the market for charter bus services?

People can travel in a variety of ways and with a degree of flexibility owing to charter bus services. It enables users to plan a path to the most fascinating locations quickly. Therefore, passengers have complete freedom to travel and spend as much time as necessary at designated locations. Additionally, it eliminates the need to organize every aspect of the route because a corporate logistics specialist will handle all aspects of the arrangement for a bus rental with a driver.

Moreover, charter buses are a prominent option for people in the corporate sector to work while traveling somewhere without any hustle because of perks like free Wi-Fi, undercarriage storage space, and onboard bathrooms. Owing to all these features charter bus services are gaining immense popularity worldwide.

Why Does the U.S. Command a Big Share of the Global Market?

The US charter bus services market is highly fragmented with the presence of various small and large companies offering motor coaches. These companies offer more than 15,000 charter buses for different passenger trips contributing about 80% of revenue from charter bus services.

The economy is bound by a huge population from the corporate sector which is one of the leading factors attributing the demand for charter bus services due to affordable and cost-efficient travel features. Additionally, the increasing trend for mini charter bus rental in the country will create lucrative opportunities for market development in the forthcoming period.

Key Takeaways from the Market Study

  • According to Fact.MR, a CAGR of 3.8% was recorded for the charter bus services market from 2023-2033
  • In FY 2022, the charter bus services market reached a valuation of US$ 18.0 Billion
  • Charter bus services market reached a valuation of US$ 27.1 Billion by 2033
  • By End-user, the Business/Corporate Segment is expected to dominate the marketaccounts for 63.0% global market share
  • East Asia and Europe region  are projected to rise with the highest CAGR of 4.6% and 4.0% during the forecast period
  • The market in China is expected to expand at a 4.9 % CAGR

Competitive Landscape

Key market players in the charter bus services market are Barons Bus, Chinook Charter Services, Coach, Inc., Dousman Transport Co., Inc., Durham School Services, Fullington Auto Bus Co., GOGO Charters, Golden Touch Transportation, King Charters, Metrowest car service, Northwestern Stage Lines, Quality Assurance Travel, SBI Charters, TCS, Wisconsin Coach Lines and Other Key Players.

The charter bus service market is highly fragmented with the presence of various large and small market players in the industry. These market players are adopting key initiatives like the launch of services and expansion to enhance their footprint and expansion of market share.

For instance :

  • In July 2022, Uber, has introduced its charter bus services in Houston, Texas, and the Dallas-Fort Worth metroplex.
  • In December 2022, CharterUP, a tech-enabled charter bus service provider announced the expansion of its services in from Texas to other prominent region of the United States like Austin and San Antonio.

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global  charter bus services market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the market on the basis of Application (Private Charter Services, Group Charter Services), End-User (Business/Corporates, Individuals) & across six major regions (North America, Latin America, Europe, CIS & Russia, Asia Pacific, and Middle East & Africa).