Bus Market by Propulsion (Electric Bus, ICE Bus), Level of Autonomy (Autonomous, Manual, Semi-autonomous), Seating Capacity, Application - Global Forecast 2024-2030

Bus Market by Propulsion (Electric Bus, ICE Bus), Level of Autonomy (Autonomous, Manual, Semi-autonomous), Seating Capacity, Application - Global Forecast 2024-2030

The Bus Market size was estimated at USD 109.63 billion in 2023 and expected to reach USD 115.21 billion in 2024, at a CAGR 5.18% to reach USD 156.15 billion by 2030.

A bus is a large motor vehicle used to carry numerous passengers along a predetermined route according to a fixed schedule. Typically operating within a city or for longer distances between cities, buses are a crucial component of public transportation systems, contributing to urban mobility and accessibility. The scope of the bus market also includes advancements in technology, such as electric and autonomous buses, as well as services and infrastructure that support bus operations. Rising urbanization, growing preference for cost-effective transportation, and rising emphasis on expanding bus routes drive market growth. Moreover, government initiatives for developing public transportation availability are fueling market growth. Strict compliance regulations for emissions and safety of buses and complications in the production and design of buses may limit market growth. Growing focus on connected and smart bus transportation options creates opportunities for manufacturers and service providers. Moreover, a significant shift towards electric and sustainable buses opens up new growth prospect for the market.

Regional Insights

The United States and Canada show a steady demand with a focus on the replacement of aging fleets and a gradual shift towards cleaner, alternative fuel vehicles. Moreover, government policies and funding are pivotal in shaping the bus landscape, especially in promoting electric and hybrid buses. In South America, major cities' urbanization and population density drive the demand for buses. However, economic volatility and budget constraints are significant challenges that may impact the region's fleet expansion and technology adoption. The bus market in the EMEA region is influenced by stringent environmental regulations, with European countries leading in the adoption of electric and hybrid buses. The push for sustainability continues to drive investments in greener public transport solutions. Initiatives such as the European Union's Clean Vehicles Directive significantly impact procurement practices, favoring the uptake of low-emission buses.

Meanwhile, in the Middle East and parts of Africa, there is growing investment in public transport infrastructure to support economic diversification and enhance urban mobility. The Asia-Pacific region represents rapid growth in the bus market, with demand shaped by rapid urbanization and expanding public transport networks. In countries such as China and India, which have substantial populations and burgeoning cities, there is a strong push for mass public transportation to alleviate congestion and minimize pollution. China, in particular, has taken a global lead in electrifying its bus fleets as part of its aggressive environmental policies. Moreover, the Southeast Asian markets are experiencing growth in bus demand, directed by increased urbanization and government investment in public transport infrastructure.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Bus Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising urbanization and preference for cost-effective transportation
• Government initiatives for expanding public transportation availability
• Rising emphasis on expansion of bus routes

Market Restraints

• Strict compliance regulations for emissions and safety of buses

Market Opportunities

• Growing focus on connected and smart bus transportation options
• Shift to electric and sustainable buses

Market Challenges

• Complications in the production and designing of buses

Market Segmentation Analysis

• Propulsion: Rising preference for electric buses in urban areas due to no-emission zones and initiatives to reduce urban pollution
• Level of Autonomy: Growing popularity of self-driving buses, owing to the automation technology advances
• Seating Capacity: Significant use of buses with a seating capacity of up to 40 seats for private hire and small-scale transit operations
• Application: Growing application of intracity buses in urban centers

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Bus Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Bus Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Beacon Mobility Announces Acquisition Of Cedar Bus Company, Easton Bus Service, Inc.

Beacon Mobility announces its strategic expansion by acquiring two transportation entities including Cedar Bus Company in Buffalo, New York, and Easton Bus Service, Inc. in Leavenworth, Kansas. The joining forces of these companies underscore Beacon Mobility's dedicated efforts in nurturing a robust national footprint, comprising now 25 companies, and epitomize its ethos of unwavering service excellence and community engagement.

Volvo to Acquire Proterra’s Battery Business

Volvo Group acquired Proterra Inc. and its subsidiary, Proterra Operating Company Inc., with a bid of USD 210 million. This move underscores Volvo Group's commitment to bolstering its capabilities in electric vehicle technology and expanding its market footprint.

GreenPower Unveils the Mega BEAST All-Electric Type D School Bus with the Longest Range and Biggest Battery Pack on the Market

GreenPower Motor Company Inc. unveiled Mega BEAST, a revolutionary addition to their all-electric school bus lineup. This 40-foot Type D zero-emission vehicle sets a new benchmark in the industry with an unrivaled range of up to 300 miles, courtesy of a substantial 387 kWh battery pack.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Bus Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Bus Market, highlighting leading vendors and their innovative profiles. These include Ankai Automobile Co., Ltd., Ashok Leyland, BCI Bus, Blue Bird Corporation, BYD Company, CaetanoBus, Daimler AG, Gillig Corporation, Higer Bus Company Limited, Irizar Group, Iveco S.p.A., King Long United Automotive Industry Co., Ltd, MAN Truck & Bus SE, Marcopolo S.A., NFI Group Inc., Otokar, Scania AB, Setra, Solaris Bus & Coach sp z o.o., Temsa Global, Van Hool, Volvo Group, Wrightbus, Yutong Group, and Zhongtong Bus Holding Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Bus Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Propulsion
• Electric Bus
• ICE Bus
• Level of Autonomy
• Autonomous
• Manual
• Semi-autonomous
• Seating Capacity
• 40-70 Seats
• Over 70 Seats
• Up to 40 Seats
• Application
• Intercity
• Intracity

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year