PUBLISHER: The Freedonia Group | PRODUCT CODE: 2104502
PUBLISHER: The Freedonia Group | PRODUCT CODE: 2104502
Scope of the Report
This Freedonia Group report analyzes the scope, size, and growth of the bus market, including key trends in products, markets, and regions. Historical data are provided for 2015, 2019, and 2025 for demand, with forecasts for 2030 and 2035. Data are provided in units. Also included is an analysis of key industry players and their global market share (overall, regional, and product market share). Separately sold bus chassis are excluded from the scope of this study.
Global demand for buses is expected to grow 4.5% per year to 724,040 units in 2030, improving on the 2019-2025 performance. Advances in world bus sales will be supported by fleet modernization programs, the ongoing shift to electric buses, additional government investment in countries' bus transportation systems and road networks, and rising tourism activity. The expansion of the global private transportation sector will also provide impetus for growth.
Electric Buses to Power Global Market, with the Asia/Pacific Region Dominating Sales
Building on the strong 2019-2025 performance, global hybrid and electric bus sales are expected to climb at a double-digit pace through 2030. Governments around the world have established electric bus targets, adopted new regulations, made strategic investments, and expanded their country's charging infrastructure in recent years; these types of initiatives will be a critical driver of segment gains going forward. Additionally, electric bus availability is expected to increase sharply during this time, and the next generation of models will offer superior performance to predecessors.
The Asia/Pacific region will remain the primary driver of electric bus sales, where governments in countries such as India and Japan are actively pushing the shift to electric models. China will continue to account for the bulk of electric bus demand in the region, with growth supported by replacement bus sales as the first generation of models sold in the country reach the end of their lifespan.
Transit Buses to Outperform Counterparts Between 2025 & 2030
Globally, transit buses are expected to register the largest market gains and record the fastest growth during the forecast period. National, regional, and municipal governments around the world are upgrading their transit bus services, expanding their public bus transportation networks, promoting the use of buses (e.g., subsidies), and encouraging the shift to electric transit buses. During the next decade, transit buses have favorable growth prospects because they will benefit from the electrification of transportation to a much greater extent than motor coaches and other buses. The introduction of new conventional and electric transit buses will help drive growth around the world through 2030.
Key Trends