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Latin America Bus Market Share, Size, Growth, Trends, Analysis, Forecast: By Fuel Type: Diesel, Electric / Hybrid, CNG, Fuel Cell, Others; By Bus Type: Intercity Bus, Intracity Bus; By Length: Up to 6 Meter, 6-8 Meter, 8-10 Meter, 12 Meter, 18 Meter; By Body Type: Fully Built, Customisable Body; Regional Analysis; Competitive Landscape; 2024-2032
Latin America Bus Market Outlook
The market size for buses in Latin America reached a volume of more than 47.5 thousand units in 2021. The Latin America bus market is expected to grow at a CAGR of 4.40% between 2024 and 2032, reaching a volume of 61.59 thousand units by 2027.
Key Trends in the Market
A bus is a large vehicle used to carry passengers on a fixed route based on a schedule. It stops at designated locations to pick up and drop off people travelling from one location to another. A small bus is usually known as microbus, commuter, minibus or a minicoach, and is used to carry fewer passengers less than a full sized bus. A bus is sometimes also known as coach because of its functional resemblance to horse-drawn carriages from older times.
- Growing population specially in the urban areas increases the demand for public transport infrastructure such as buses, to help in the smooth movement of people between locations.
- Development of electric bus helps in reducing carbon emissions along with controlling air pollution, increasing the use and demand for electric buses marking a key trend of the overall Latin America bus market.
- Purchase of buses has increased with the support of the initiatives and schemes by various governments in the region. Chile, Columbia and few other nations have shown support to buses by increasing fleet sizes, frequency of buses, and routes.
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Market Analysis
Based on fuel type, the Latin America bus market can be segmented into diesel, electric/hybrid, CNG, and fuel cell, among others. By bus type, the market is bifurcated into intercity bus and intracity bus. On the basis of length, the market is divided into up to 6 meter, 6-8 meter, 8-10 meter, 12 meter, and 18 meter. Based on body type, the market is categorised into fully built and customisable body. By region, the market is divided into Brazil, Mexico, Argentina, and Columbia, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Latin America bus market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Daimler Truck AG
- AB Volvo
- MAN SE
- Marcopolo S.A.
- IVECO S.p.A.
- Scania AB
- Agrale SA
- Ford Motor Company
- Toyota Motor Company
- BYD Co. Ltd.
- Others
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Market Share by Bus Type
Intercity buses, travelling between two or more cities, are expected to have a sizable share in the Latin America bus market because of growing number of cities in the Latin America region. With some of the highest rates of urbanisation, there are a plethora of cities in Latin America that are increasingly connected by intercity buses to support smooth movement. Increase in tourism has fuelled the growth of the intercity bus segment even more in the market.
Meanwhile, intracity buses, that travel within city, are projected to witness rapid growth in the Latin America bus market over the coming years. As more workers are moving to cities for employment opportunities, as well as students for higher education, there is an increased demand for transportation for daily commuting. Governments in the region are encouraging bus usage to reduce traffic and pollution while supporting easy movement.
Market Share by Body Type
Fully built buses are preferred by buyers and more widely used by the general public due to their lower costs. Accordingly, the fully built bus body type is expected to have a leading share in the Latin America bus market. Fully built buses are often mass produced resulting in lower production costs, and buyers can purchase buses in larger numbers. These buses are typically used for intracity travel.
For intercity travel with generally more expensive tickets, customisable body buses are popular, as buyers can add custom features to differentiate their brand and gain more customers. Since the driving distances are longer, passengers spend more time in the buses and are ready to pay more for their tickets. Customisable body buses can include features such as specialised seats and dedicated space for luggage storage.
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Competitive Landscape
Daimler Truck AG manufactures and provides commercial vehicles including cars, buses, and trucks globally. It has its headquarter in Germany and was founded in 2019. It is involved in providing electric, efficient, automated, safe, connected, and reliable vehicles and services to its customers. It also provides financial services along with other services.
AB Volvo was established in 1927 and is headquartered in Gothenburg, Sweden. It is a financial services company that produces and distributes buses, trucks, and construction equipment. It also provides industrial and marine drive systems and financial services. It works with an aim to create a sustainable future by reducing the impact of climate and providing fossil fuel-free solutions.
MAN SE was founded in 1898 and is based in Munich, Germany. It is an engineering company that manufactures and sells diesel engines and commercial vehicles. It mainly focuses on smart and sustainable transport solutions. The company also provides services linked to the transport sector for the movement of goods or passengers.
Other market players include Marcopolo S.A., IVECO S.p.A., Scania AB, Agrale SA, Ford Motor Company, Toyota Motor Company, and BYD Co. Ltd., among others.
Key Highlights of the Report
| 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:
|
| Breakup by Fuel Type |
|
| Breakup by Bus Type |
|
| Breakup by Length |
|
| Breakup by Body Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*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 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Bus Market Analysis
8.1 Key Industry Highlights
8.2 Latin America Bus Historical Market (2018-2023), By Value and Volume
8.3 Latin America Bus Market Forecast (2024-2032), By Value and Volume
8.4 Latin America Bus Market by Fuel Type
8.4.1 Diesel
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Electric / Hybrid
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 CNG
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Fuel Cell
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Latin America Bus Market by Bus Type
8.5.1 Intercity Bus
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Intracity Bus
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.6 Latin America Bus Market by Length
8.6.1 Up to 6 Meter
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 6-8 Meter
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 8-10 Meter
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 12 Meter
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 18 Meter
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
8.7 Latin America Bus Market by Body Type
8.7.1 Fully Built
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Customisable Body
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.8 Latin America Bus Market by Region
8.8.1 Market Share
8.8.1.1 Brazil
8.8.1.2 Mexico
8.8.1.3 Argentina
8.8.1.4 Colombia
8.8.1.5 Others
9 Regional Analysis
9.1 Brazil
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Mexico
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Argentina
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Columbia
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Daimler Truck AG
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 AB Volvo
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 MAN SE
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Marcopolo S.A.
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 IVECO S.p.A.
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Scania AB
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 Agrale SA
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio
11.2.7.3 Demographic Reach and Achievements
11.2.7.4 Certifications
11.2.8 Ford Motor Company
11.2.8.1 Company Overview
11.2.8.2 Product Portfolio
11.2.8.3 Demographic Reach and Achievements
11.2.8.4 Certifications
11.2.9 Toyota Motor Corporation
11.2.9.1 Company Overview
11.2.9.2 Product Portfolio
11.2.9.3 Demographic Reach and Achievements
11.2.9.4 Certifications
11.2.10 BYD Co. Ltd.
11.2.10.1 Company Overview
11.2.10.2 Product Portfolio
11.2.10.3 Demographic Reach and Achievements
11.2.10.4 Certifications
11.2.11 Others
12 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Bus Market: Key Industry Highlights, 2018 and 2032
2. Latin America Bus Historical Market: Breakup by Fuel Type (USD Million), 2018-2023
3. Latin America Bus Market Forecast: Breakup by Fuel Type (USD Million), 2024-2032
4. Latin America Bus Historical Market: Breakup by Bus Type (USD Million), 2018-2023
5. Latin America Bus Market Forecast: Breakup by Bus Type (USD Million), 2024-2032
6. Latin America Bus Historical Market: Breakup by Length (USD Million), 2018-2023
7. Latin America Bus Market Forecast: Breakup by Length (USD Million), 2024-2032
8. Latin America Bus Historical Market: Breakup by Body Type (USD Million), 2018-2023
9. Latin America Bus Market Forecast: Breakup by Body Type (USD Million), 2024-2032
10. Latin America Mining Drill Bits Historical Market: Breakup by Country (USD Million), 2018-2023
11. Latin America Mining Drill Bits Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Latin America Bus Market Structure
Key Questions Answered in the Report
The market size for buses in Latin America reached a volume of more than 47.5 thousand units in 2021.
The market is expected to grow at a CAGR of 4.40% between 2024 and 2032.
The bus market in Latin America is expected to reach a volume of more than 61.59 thousand units by 2027.
The major market drivers include government initiatives, increase in tourism, and growth of urban population.
The key trends of the market are development of electric buses, increased purchase of buses, and growing needs for commuting within cities.
Key market players include Daimler Truck AG, AB Volvo, MAN SE, Marcopolo S.A., IVECO S.p.A., Scania AB, Agrale SA, Ford Motor Company, Toyota Motor Company, and BYD Co. Ltd., among others.
A bus is a large vehicle used to carry passengers on a fixed route based on a schedule. It regularly stops to pick and drop off people travelling from one location to another.
A small bus is also known as microbus, commuter, minibus or a minicoach, and is used to carry fewer passengers than a full sized bus.
The Latin America bus market is segmented based on fuel type, bus type, length, body type, and region.
The primary body types for buses are fully built and customisable body.
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