Bus Market Report: Trends, Forecast and Competitive Analysis to 2030

Bus Trends and Forecast

The future of the global bus market looks promising with opportunities in the transit bus, intercity bus/motorcoaches, and school bus markets. The global bus market is expected to reach an estimated $68.2 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are growing emphasis on passenger comfort in public transit, expanding availability of electric autonomous buses, and growing attention on environmentally friendly and sustainable transportation options to lower emissions and air pollution.

A more than 150-page report is developed to help in your business decisions.

Bus by Segment

The study includes a forecast for the global bus by type, fuel type, seating capacity, application, and region.

Bus Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Single Deck
• Double Deck

Bus Market by Fuel Type [Shipment Analysis by Value from 2018 to 2030]:

• Diesel
• Battery Electric
• Plug-In Hybrid
• Fuel Cell Electric
• Others

Bus Market by Seating Capacity [Shipment Analysis by Value from 2018 to 2030]:

• Up To 30 Seats
• 31 - 50 Seats
• More Than 50 Seats

Bus Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Transit Bus
• Intercity Bus/Motorcoaches
• School Bus
• Others

Bus Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Bus Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies bus companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the bus companies profiled in this report include-

• AB Volvo
• BYD Motors
• Jiangling Motors
• BAIC
• Xiamen King Long Motor
• Shanghai Automotive Industry
• Changan Automobile

Bus Market Insights

Lucintel forecasts that diesel will remain the largest segment over the forecast period because the internal combustion engines powered by diesel fuel are a feature of diesel buses, and diesel engines are a good option for larger vehicles like buses owing to their reputation for dependability and fuel economy.

APAC is expected to witness highest growth over the forecast period due to its growing population, economic growth, supportive government policies and the need for efficient urban transport solutions.

Features of the Global Bus Market

Market Size Estimates: Bus market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Bus market size by type, fuel type, seating capacity, application, and region in terms of value ($B).

Regional Analysis: Bus market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, fuel type, seating capacity, application, and regions for the bus market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the bus market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the bus market size?

Answer: The global bus market is expected to reach an estimated $68.2 billion by 2030.

Q2. What is the growth forecast for bus market?

Answer: The global bus market is expected to grow with a CAGR of 5.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the bus market?

Answer: The major drivers for this market are growing emphasis on passenger comfort in public transit, expanding availability of electric autonomous buses, and growing attention on environmentally friendly and sustainable transportation options to lower emissions and air pollution.

Q4. What are the major segments for bus market?

Answer: The future of the global bus market looks promising with opportunities in the transit bus, intercity bus/motorcoaches, and school bus markets.

Q5. Who are the key bus market companies?

Answer: Some of the key bus companies are as follows.

• AB Volvo
• BYD Motors
• Jiangling Motors
• BAIC
• Xiamen King Long Motor
• Shanghai Automotive Industry
• Changan Automobile

Q6. Which bus market segment will be the largest in future?

Answer: Lucintel forecasts that diesel will remain the largest segment over the forecast period because the internal combustion engines powered by diesel fuel are a feature of diesel buses, and diesel engines are a good option for larger vehicles like buses owing to their reputation for dependability and fuel economy.

Q7. In bus market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to its growing population, economic growth, supportive government policies and the need for efficient urban transport solutions.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the bus market by type (single deck and double deck), fuel type (diesel, battery electric, plug-in hybrid, fuel cell electric, and others), seating capacity (up to 30 seats, 31 - 50 seats, and more than 50 seats), application (transit bus, intercity bus/motorcoaches, school bus, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?