Global School and Employee Bus Services Market 2023-2030

Global School and Employee Bus Services Market 2023-2030

Global school and employee bus services market is anticipated to grow at a considerable CAGR of 7.2% during the forecast period. School buses are built with specific seating arrangements and luggage-carrying shelves that are designed for children. School buses are also equipped with the latest safety technologies such as anti-collision systems, intelligent parking brakes, electronic stability control, and pedestrian detection systems. The growth of the market is attributed to , increasing investments in R&D by major industry players, a rise in sales of electric school buses, and increasing enrolment of children in schools. Further, government initiatives to promote the use of public transportation and reduce traffic congestion are some of the factors anticipated to fuel the demand for school and employee bus services. For instance, in some countries, the government provides subsidies to schools and companies that use bus services as a means of transportation for their students and employees. In November 2022, the state of California, in the US, announced the investment of another $ 1.8 billion in the electrification of school buses in the state. .

Segmental Outlook

The global school and employee bus services market is segmented based on the power-train type, and capacity design. Based on the power-train type, the market is segmented into IC engine, electric, and hybrid. Further, on the basis of capacity design, the market is sub-segmented into type A, type B, type C, and type D. Among the power-train type segment, the electric sub-segment is expected to cater prominent market share over the forecast period.

The Electric Sub-Segment is Anticipated to Hold Prominent Share in the Global School And Employee Bus Services Market

The electric sub-segment is anticipated to hold a prominent share in the global school and employee bus services market. This is primarily due to the increasing demand for eco-friendly and sustainable modes of transportation. Electric buses have lower emissions compared to traditional diesel buses, which makes them a popular choice for schools and companies that are focused on reducing their carbon footprint. Additionally, electric buses have lower operating costs and require less maintenance, which makes them a cost-effective option in the long run. Governments around the globe are also promoting the use of electric buses by providing incentives and subsidies for their purchase and use. Overall, the electric sub-segment is anticipated to experience significant growth in the forecast period, driven by the increasing focus on sustainability and the growing adoption of electric vehicles in the transportation sector.

Regional Outlooks

The global School and Employee Bus Services market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for particular region or country level as per the requirement. Among these, the Asia-Pacific regional market is expected to cater prominent growth over the forecast period; however, the North American region is projected to experience considerable growth in the school and employee bus services market.

The Asia-Pacific Region Is Expected To Hold Prominent Share in the Global School and Employee Bus Services Market

The Asia-Pacific region is expected to hold a prominent share in the global school and employee bus services market. This is primarily due to the growing population and urbanization in the region, which has led to an increase in the number of schools and workplaces. The demand for transportation services for these institutions has also grown, leading to the expansion of the school and employee bus services market in the region. Additionally, many countries in the region are experiencing rapid economic growth, which has resulted in increased government spending on infrastructure and public transportation. For instance, in countries such as China and India, the government has invested heavily in the development of public transportation systems, including school and employee bus services. These factors are expected to drive the growth of the school and employee bus services market in the Asia-Pacific region in the forecast period. Also, the presence of large bus OEMs, and free school education schemes such as Sarva Shiksha Abhiyan in India is anticipated to propel the growth of the market.

Market Players Outlook

The major companies serving the global school and employee bus services market include Tata Motors Ltd., Yutong Bus Co. Ltd., Ashok Leyland Ltd., Thomas Built Buses, IC Bus, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in December 2020, Yutong Bus signed a contract with the Qatar Public Transport Company (Mowasalat) to supply 1,002 buses, including school and employee transportation buses. The company has also been focusing on the development of electric buses for the school and employee transportation market.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global school and employee bus services market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.