PUBLISHER: Polaris Market Research | PRODUCT CODE: 1831753
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1831753
The bus market size is expected to reach USD 134.22 billion by 2034, according to a new study by Polaris Market Research. The report "Bus Market Share, Size, Trends, Industry Analysis Report By Length (6m, 6-8m, 8-10m, 10-12m, above 12m), By Fuel Type, By Seating Capacity, By Application, By Region; Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
A bus is evolving rapidly in response to global mobility needs. The accelerating shift toward electrification drives the bus market, as sustainability goals and environmental concerns push operators to adopt electric and hybrid fleets. This trend is further supported by technological advancements in battery performance, charging infrastructure, and overall operational efficiency, making clean-energy buses more viable than ever. The adoption of electrification addresses emission reduction targets and also positions buses as a central pillar of sustainable public transport systems worldwide.
The rising demand for enhanced passenger experience and comfort further drives the bus market growth. Operators are increasingly focusing on deploying modern buses equipped with advanced safety systems, ergonomic seating, digital ticketing, and real-time tracking solutions to improve service quality. This trend is driven by changing commuter expectations, as passengers now seek convenient, safe, and technology-enabled mobility solutions. The market is transitioning from being a traditional mode of transport to a smarter, more efficient, and user-focused mobility solution that caters to the evolving dynamics of global transportation by integrating innovation with customer-centric services.
In terms of length, the 6-meter segment accounted for 34.93% of revenue in 2024 as it is well-suited for navigating busy city streets and providing efficient last-mile connectivity.
Based on fuel type, the electric segment is expected to grow the fastest, with an 11.1% CAGR during the forecast period, fueled by the global push toward cleaner and more sustainable transportation options.
North America held a significant share of the bus market in 2024, supported by its well-developed transportation infrastructure and widespread adoption of advanced mobility solutions.
Asia Pacific captured 48.58% of the global market in 2024, driven by rapid urbanization, growing populations, and increasing reliance on public transportation.
A few global key market players include AB Volvo; Anhui Ankai Automobile Co., Ltd; Beiqi Foton Motor Co., Ltd.; BYD Company Limited; Daimler Truck Holding AG; Ebusco; Golden Dragon (Xiamen Golden Dragon Bus Co., Ltd.); Higer Bus Company Limited; Iveco Group N.V.; MAN Truck & Bus; Renault Group; Scania AB; Shanghai Sunwin Bus Co., Ltd.; Solaris Bus & Coach sp. z o.o.; Sunlong Automobile; TEMSA; Xiamen King Long United Automotive Industry Co., Ltd.; Yutong Bus Co., Ltd.; and Zhongtong Bus Holding Co., Ltd.
Polaris Market Research has segmented the market report on the basis of length, fuel type, seating capacity, application, and region:
By Length Outlook (Revenue, USD Billion, 2020-2034)
Below 6m
6-8m
8-10m
10-12m
Above 12m
By Fuel Type Outlook (Revenue, USD Billion, 2020-2034)
Diesel
Electric
Hybrid
Alternative Fuel
By Seating Capacity Outlook (Revenue, USD Billion, 2020-2034)
Below 15
15 to 30
31 to 50
Above 50
By Application Outlook (Revenue, USD Billion, 2020-2034)
Transit Bus
Intercity/Motor coaches
School Bus
Tourist Bus
Staff Pickup/Hotel Shuttle
Others
By Regional Outlook (Revenue, USD Billion, 2020-2034)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Vietnam
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa