Reports
Global Bus Market Size, Share, Trends, Analysis, Forecast: By Type: Single Deck, Double Deck; By Application: Transit Bus, Intercity/Coaches, Others; By Fuel Type: Diesel, Electric and Hybrid, Others; By Seat Capacity: 15-30 Seats, 31-50 Seats, More than 50 Seats; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Bus Market Outlook
The global bus market attained a value of about USD 52.37 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.9% to reach nearly USD 103.29 billion by 2032.
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Advancements and Innovations in Public Transportation Invigorating the Growth of the Bus Industry
The market for bus is being driven by the rising demand for innovations and advancements in public transportation. As online presence is increasingly becoming integral to all businesses, various small and medium-sized bus owners are developing their websites to expand the distribution networks. Hence, the growing popularity of online channels is invigorating the industry growth. In addition, the advent of mobile wallets and remote payments in emerging regions, such as India, South Africa, and Brazil, among others, is leading to a surge in digital ticketing, consequently surging their demand in the bus industry.
Rising Popularity of Electric Buses in Europe to Bolster the Market Growth
The rising popularity of electric buses is significantly contributing to the market growth. Europe is one of the most significant markets for electric buses owing to the introduction of various measures by governments to curb pollution levels. Moreover, the wide availability of charging stations in the region is surging the deployment of electric buses, hence strengthening the industry growth. In addition, the growing demand for sustainable and energy-efficient public transport is further fuelling the growth of the bus industry. The electrification of public transport in various countries such as Switzerland is also leading to a surge in the demand for electric buses, hence accelerating the overall growth of the bus industry.
Bus: Market Segmentation
A bus is a four-wheeled motor vehicle that is deployed to carry passengers on a fixed route. It is integral in public transportation and is extensively used in urban areas. It can also be used for scheduled transport, tourism, and school transport. A bus is further utilised for advertising, such as in political campaigning, promotion, and public information campaigning.
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The major types of bus are:
- Single Deck
- Double Deck
The market can be broadly categorised on the basis of its applications segments into:
- Transit Bus
- Intercity/Coaches
- Others
By fuel type, the market is divided into:
- Diesel
- Electric and Hybrid
- Others
Based on seat capacity, the market is segmented into:
- 15-30 Seats
- 31-50 Seats
- More than 50 Seats
The EMR report looks into the regional markets of bus like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand for Double-Decker Buses for Long Commute to Augment the Market Growth
The increasing demand for branded buses for long-distance commutes in several regions is augmenting the market growth. With the emergence of the middle class, the demand for comfortable travel is considerably surging, consequently increasing the use of intercity bus travel. The demand for double-decker buses that can provide enhanced safety and hygiene is escalating in the wake of the COVID-19 outbreak, which is providing further impetus to the industry growth.
The initiation of consumer-oriented services and solutions to enhance public transportation and mobility services are increasing the demand for buses, therefore propelling the market growth. Moreover, the rising demand for buses integrated with contactless payment methods, especially after the COVID-19 pandemic, is augmenting the industry growth. The potential use of big data to optimise routes, vehicle dispatch, and schedules while increasing automation is estimated to surge the transportation by buses, which is projected to propel the market growth. In addition, the introduction of bus lanes and smart traffic lights management to prevent congestion is anticipated to surge the deployment of buses in the upcoming years. As well-positioned bus stops are increasingly developed, the convenience offered by buses is escalating, which is further expected to augment the industry growth.
Key Industry Players in the Global Bus Market
The report presents a detailed analysis of the following key players in the global bus market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Anhui Ankai Automobile Company
- Daimler Truck Holding AG
- NFI Group Inc.
- AB Volvo
- Solaris Bus & Coach sp. z o.o.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Application, Fuel Type, Seat Capacity, Region |
| Breakup by Type | Single Deck, Double Deck |
| Breakup by Application | Transit Bus, Intercity/Coaches, Others |
| Breakup by Fuel Type | Diesel, Electric and Hybrid, Others |
| Breakup by Seat Capacity | 15-30 Seats, 31-50 Seats, More than 50 Seats |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Anhui Ankai Automobile Company, Daimler Truck Holding AG, NFI Group Inc., AB Volvo, Solaris Bus & Coach sp. z o.o., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Bus Market Analysis
8.1 Key Industry Highlights
8.2 Global Bus Historical Market (2018-2023)
8.3 Global Bus Market Forecast (2024-2032)
8.4 Global Bus Market by Type
8.4.1 Single Deck
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Double Deck
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Bus Market by Application
8.5.1 Transit Bus
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Intercity/Coaches
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Bus Market by Fuel Type
8.6.1 Diesel
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Electric and Hybrid
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Bus Market by Seat Capacity
8.7.1 15-30 Seats
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 31-50 Seats
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 More than 50 Seats
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.8 Global Bus Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Bus Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Bus Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Bus Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Bus Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Bus Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Anhui Ankai Automobile Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Daimler Truck Holding AG
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 NFI Group Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 AB Volvo
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Solaris Bus & Coach sp. z o.o.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Bus Market: Key Industry Highlights, 2017 and 2027
2. Global Bus Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Bus Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Bus Historical Market: Breakup by Fuel Type (USD Billion), 2018-2023
5. Global Bus Market Forecast: Breakup by Fuel Type (USD Billion), 2024-2032
6. Global Bus Historical Market: Breakup by Seat Capacity (USD Billion), 2018-2023
7. Global Bus Market Forecast: Breakup by Seat Capacity (USD Billion), 2024-2032
8. Global Bus Historical Market: Breakup by Application (USD Billion), 2018-2023
9. Global Bus Market Forecast: Breakup by Application (USD Billion), 2024-2032
10. Global Bus Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Bus Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Bus Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Bus Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Bus Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Bus Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Bus Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Bus Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Bus Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Bus Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Bus Historical Market (USD Billion), 2018-2023
21. Middle East and Africa Bus Market Forecast (USD Billion), 2024-2032
22. Global Bus Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 52.37 billion.
The market is projected to grow at a CAGR of 7.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 103.29 billion by 2032.
The major market drivers include the growing popularity of online ticketing platforms, the rising trend of digital ticketing, and the surging deployment of electric buses.
The key trends guiding the market growth are the integration of the latest technologies such as Big Data in buses, the rising demand for branded buses, and the improvements in public transportation.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of bus in the market are single deck and double deck.
The significant applications of bus are transit bus and intercity/coaches, among others.
The various fuel types considered in the market report are diesel and electric and hybrid, among 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 major players in the market are Anhui Ankai Automobile Company, Daimler Truck Holding AG, NFI Group Inc., AB Volvo, and Solaris Bus & Coach sp. z o.o., among others.
Analyst Review
The global bus market attained a value of nearly USD 52.37 billion in 2023, driven by the rising demand for electric buses. Aided by the integration of the latest technologies such as Big Data in buses, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7.9%. The market is projected to reach about USD 103.29 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the bus industry can be segmented into single deck and double deck. On the basis of application, the industry is divided into transit bus and intercity/coaches, among others. By fuel type, the market is categorised into diesel and electric and hybrid, among others. Based on seat capacity, the industry is classified into 15-30 seats, 31-50 seats, and more than 50 seats. The major regional markets for bus are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above 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.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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