Vietnam Bus Industry Research Report 2025-2034

Buses are essential vehicles for transporting large numbers of passengers and their belongings, and are widely used in public transportation, long-distance transport, tourist transfers, school bus services, and work commuting. Depending on their length and purpose, buses can be categorized as large, medium, and small, and can also be divided into various types, including public buses, long-distance coaches, tourist buses, school buses, and commuter buses.

The bus industry chain encompasses multiple links, from the supply of raw materials and parts to complete vehicle manufacturing, sales, and operational services. According to CRI analysis, the upstream sector primarily comprises the basic raw materials and core components for bus manufacturing. The midstream sector, the core of the bus industry chain, is primarily undertaken by vehicle manufacturers and encompasses product design, structural development, system integration, and final assembly. The downstream sector connects the market with end users, encompassing bus sales, financial leasing, operational management, and after-sales service.

Global bus market demand has maintained steady growth, driven primarily by accelerated urbanization, increased public transportation investment, and increased tourism. According to CRI analysis, the modernization of public transportation systems in an increasing number of countries is driving demand for urban buses and commuter coaches, particularly in developing countries and densely populated areas. With the global tourism industry recovering, demand for long-distance tourist buses and scenic area shuttles has gradually rebounded, becoming a key growth driver.

In recent years, demand for buses in Vietnam has continued to grow, primarily driven by increased road infrastructure development, rapid tourism growth, and accelerated urbanization. According to CRI analysis, Vietnam's large population creates a significant demand for commercial buses in both metropolitan areas and rural areas with limited infrastructure. Furthermore, Vietnam's rapidly developing tourism industry, attracting millions of tourists annually, has fueled demand for buses. Public data indicates that Vietnam's tourism industry will welcome over 17.5 million international tourists in 2024, a year-on-year increase of approximately 39.5%.

Vietnam's bus production primarily relies on domestic manufacturing with some imported assembly. THACO (Trường Hai Auto Corporation) is a key manufacturer, having long held a significant position in the Vietnamese bus market. Its product range encompasses a full range of models, from small commuter vehicles to large city buses and tourist coaches. Compared to countries like China and Japan, Vietnam still relies heavily on imports for both complete buses and core powertrain components, lacking a comprehensive local parts supply chain.

With the recovery of Vietnam's tourism industry, the continued growth of the passenger transport industry, and the gradual replacement of fuel buses with electric buses, CRI predicts that Vietnam's bus sales will reach 25,900 units by 2034, with a compound annual growth rate (CAGR) of 13.2% from 2025 to 2034.

CRI recommends that global bus manufacturers, dealers, auto parts manufacturers, and investors promptly research the Vietnamese market and prepare for expansion into the country's bus market. CRI's offices in Shanghai, China, and Hanoi, Vietnam, will assist foreign companies in entering the Vietnamese bus market.

Topics covered:

Overview of the Bus Industry in Vietnam

The Economic and Policy Environment of Bus Industry in Vietnam

The Market Size of Bus Industry in Vietnam (2025-2034)

Analysis of Major Bus Industry Manufacturers in Vietnam

Main Driving Forces and Market Opportunities of Bus Industry in Vietnam

What are the main driving forces, challenges and opportunities of Bus industry in Vietnam during the forecast period of 2025-2034?

Which companies are the main players in Vietnam's Bus industry market and what are their competitive advantages?

What is the expected revenue of Vietnam's Bus industry market during the forecast period of 2025-2034?

Which part of Vietnam's Bus industry market is expected to dominate the market in 2034?

What are the main disadvantages facing Vietnam's Bus industry?

How can foreign capital enter Vietnam's Bus industry?