North America Bus Market Report and Forecast 2024-2032

North America Bus Market Size

The market for buses in North America reached 59.48 thousand units in 2023. During the forecast period of between 2024 and 2032, the North America bus market size is expected to grow at a CAGR of 2.60% to reach around 74.99 thousand units by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Key Trends in the Market

A bus is a large motor vehicle that makes it easier for multiple people to travel together, following a predetermined route and schedule inside a city or to distant regions. One of the most extensively utilised modes of public transportation in the world, it decreases air pollution, uses less fuel to convey passengers, and requires little funding to establish new lines or routes.

• The growth and investments made in the transportation sector by major nations like the United States and Canada have a significant impact on the North America bus market. The accessibility of buses for intercity travel by passengers is growing due to the improvements in the public transportation sector and the expansion of the roadways network throughout these countries.

• The expansion of the market is further aided by improvements in the tourism industry. During the projected period, it is anticipated that developments in the tourism industry will boost intercity bus passenger traffic and bus income.

• In addition, it is anticipated that an increase in the usage of electric buses for long-distance intercity travel will likely propel the North America bus market growth. As a result of the increased environmental pollution produced by travel and transportation, numerous governments and service providers have begun to offer electric bus services in an effort to combat the issue. This has benefited the market for buses.

• Concessionary bus passes, increased automation in the transportation sector, expanding urbanisation, and increased use of big data to optimise routes, vehicle dispatch, and scheduling are some of the other factors that are aiding market expansion.

North America Bus Market Analysis

Based on fuel type, the market is segmented into diesel, electric/hybrid, CNG, and fuel cell, among others. The market, based on bus type is bifurcated into intercity bus and intracity bus. On the basis of length, the bus 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 can be categorised into fully built and customisable body. The major countries for the bus market in North America are the United States and Canada.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

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 North 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.

• Navistar, Inc.

• Proterra

• NFI Group

• Blue Bird Corporation

• Rev Group

• Others

Market Share by Fuel Type

The electric/hybrid segment is anticipated to increase at the highest CAGR during the forecast period. This is due to the fact that electric buses are becoming more prevalent in the United States and are steadily making up a larger percentage of public fleets. In addition, numerous public transportation organisations have contracts in place with suppliers of electric buses. The demand for electric/hybrid buses in the North America bus market is being driven by the increase in demand for non-polluting and fuel-efficient buses. 

Additionally, the development of electric buses is being fuelled by government initiatives to meet zero emissions targets, strict regulations, and growing environmental concerns. The demand is also being driven by automakers' investments in the creation of hydrogen fuel cell-powered electric buses. Another factor that is anticipated to increase demand for electric/hybrid buses is the growing investment by battery manufacturers in the development of cost-effective and technologically advanced batteries.

Market Share by Bus Type

During the forecast period, the intracity segment is anticipated to lead the North America bus market. The increase in people travelling to work, school, and universities is responsible for the need for intracity e-buses as well as the increased demand for public transportation. In North America, more people are opting for public transport for day-to-day travel and commute due to the rising costs of vehicles in countries such as the United States.

As more people express interest in public transport and buses for travel within cities, the number of bus routes and frequency of buses is likely to increase, supporting the growth of the market for buses. it is anticipated that the intercity segment will grow significantly in terms of revenue. The growing awareness among nations to lower carbon emission levels and tight emission restrictions by governments are encouraging the adoption of e-buses, driving the segment's expansion.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

Daimler Truck AG, with its headquarters in Germany, is one of the biggest automakers in the world, producing a number of well-known brands of automobiles, trucks, and buses. The business creates and produces buses and commercial trucks. 

AB Volvo, headquartered in Sweden is a commercial vehicle company that was established in 1927. The firm manufactures construction equipment, engines, buses, trucks, and other vehicles in addition to offering financial services. Under the Volvo, Renault Trucks, Mack Trucks, and UD brands, the firm produces a variety of medium-heavy to heavy trucks for local transportation, long-distance transportation, and construction operations.

MAN SE, a subsidiary of Traton SE, is a commercial vehicle manufacturer and marketer based in Germany. Since its founding in 1898, the business has designed, developed, manufactured, and sold a variety of products, including diesel and gas engines, trucks, buses, and unique gear systems, among others. 

Other market players include Marcopolo S.A., Navistar, Inc., Proterra, NFI Group, Blue Bird Corporation, and Rev Group, among others.

Key Highlights of the Report