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Report Overview
The global bus market value was around USD 52.37 billion in 2023. The market is further estimated to grow in the forecast period of 2024-2032 at a CAGR of 7.9%, to reach nearly USD 103.29 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Bus Market Regional Analysis
The Asia Pacific to lead the global market, supported by increased demand for efficient public transportation systems due to massive population growth
The Asia Pacific bus transportation market is a significant and rapidly growing segment of the global transportation sector. The region is home to some of the world's most densely populated cities, with countries like China and India experiencing rapid urbanisation. This urbanisation drives the need for efficient and reliable public transportation systems, with buses playing a crucial role in catering to the commuting needs of the urban population.
Many countries in the Asia Pacific region are experiencing robust economic growth, leading to improved living standards, and increased disposable incomes. This economic progress is contributing to a rise in demand for both personal and public transportation systems, aiding the market for buses.
Rising popularity of electric buses in Europe to bolster the market growth
The rising popularity of electric buses in the region is significantly contributing to the bus market demand. 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 market growth. In addition, the growing demand for sustainable and energy-efficient public transport is further fuelling the growth of the market. The electrification of public transport in various countries such as Switzerland is leading to a surge in the demand for electric buses.
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 2023, the global bus 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 healthy growth in the forecast period of 2024-2032, reaching a value of around 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 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 competitive landscape consists of 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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124