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Report Overview
The global bus market size was valued at USD 56.51 Billion in 2025. Resurgence in the tourism sector post-pandemic has triggered bulk orders for minibuses and luxury coaches, with operators in Europe and Southeast Asia expanding fleets to meet growing demand for intercity and cross-border travel. As a result, the market is expected to grow at a CAGR of 7.90% during the forecast period of 2026-2035 to reach a value of USD 120.88 Billion by 2035.
Growth in the market is largely driven by sustainable mobility mandates and smarter public transportation systems. Governments worldwide are setting emission goals and actively funding public transport revamps. For instance, India’s PM-eBus Sewa scheme, announced in 2023, allocated INR 57,613 crore to deploy 10,000 electric buses across on PPP model, which indicates a clear shift from policy drafts to implementation. In addition, The EU-funded ZeEUS project has been pivotal in testing electric buses in urban spaces, now influencing national policies. Colombia leads the Latin American market with over 1,500 electric buses operating as of late 2023.
B2B buyers, including fleet operators, city transit authorities, and private transport contractors, are targeting modular, AI-integrated, and ultra-low emission buses, accelerating the overall bus market development. The industry also observes that smart bus solutions are beginning to take precedence over traditional physical fleets. These solutions include onboard diagnostics, dynamic route optimization, and predictive maintenance.
In addition, rising fuel prices are making public transport, especially buses, more appealing to the cost-conscious passengers. As the prices of fuel escalate, the cost of running one’s vehicle also increases, which gives people a reason to look for cheaper means of transport. This leads to increased demand for buses as they offer a cheaper means of transport and reduce the cost incurred individually when travelling. More bus passengers surge the demand for development and procurement of more bus fittings and facilities, hence driving industry growth.
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
Leading Companies in the Bus Market
The companies specialise in producing a wide range of commercial vehicles, including trucks and buses, designed for applications across various industries. They are actively advancing in electric and autonomous vehicle technologies, aiming to create sustainable transport solutions.
- Anhui Ankai Automobile Company
- Daimler Truck Holding AG
- NFI Group Inc.
- AB Volvo
- Solaris Bus & Coach sp. z o.o.
- Others
Bus Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2025, the bus market reached an approximate value of USD 56.51 Billion.
The market is projected to grow at a CAGR of 7.90% between 2026 and 2035.
The market is estimated to witness healthy growth in the forecast period of 2026-2035, reaching a value of around USD 120.88 Billion by 2035.
Key strategies driving the market include investing in modular EV platforms, partnering with governments, enhancing AI-driven diagnostics, and offering flexible ownership models.
The key challenges are high upfront cost of EV buses, inconsistent charging infrastructure, supply chain delays, and skilled labour shortages for maintaining connected buses.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The major types of bus in the market are single deck and double deck.
By application, the market is divided into transit bus, intercity/coaches, and others.
Based on fuel type, the market is segmented into diesel, electric and hybrid, and others.
The different segments based on the seat capacity of buses included in the market report are 15-30 seats, 31-50 seats, and more than 50 seats.
The key players in the market include Anhui Ankai Automobile Company, Daimler Truck Holding AG, NFI Group Inc., AB Volvo, and Solaris Bus & Coach sp. z o.o., among others.
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