Global Bus Manufacturing Market was valued at USD 5.1 Billion in 2022 and is projected to reach USD 7.2 Billion by 2030, growing at a CAGR of 4.3% from 2024 to 2030.
The bus manufacturing market has experienced significant growth over the past decade, driven by increasing demand for public transportation solutions, urbanization, and sustainability efforts. Manufacturers have been focusing on innovation and improving bus designs, with electric and hybrid buses emerging as the most popular options for environmentally conscious cities. The transition from traditional diesel-powered buses to more eco-friendly alternatives is reshaping the industry and offering lucrative opportunities for manufacturers and suppliers.
The global bus manufacturing market is expected to reach a valuation of over $50 billion by 2030, growing at a compound annual growth rate (CAGR) of 4-5%. The demand for public transport continues to rise, particularly in developing nations where urbanization is progressing rapidly. A key factor contributing to this demand is the increasing need for efficient, cost-effective, and environmentally friendly transportation solutions. As governments introduce stringent emission regulations, electric buses, which have fewer moving parts and lower operating costs, are gaining market traction. In 2024, electric buses are expected to account for 20% of the global bus fleet, a significant rise from previous years.
Aside from eco-friendly buses, smart technology integration has become an integral part of modern buses. Features such as GPS tracking, advanced telematics, and real-time communication with bus stations enhance efficiency and provide passengers with improved travel experiences. The increasing adoption of digital technologies in bus manufacturing ensures that buses are more reliable, safer, and more comfortable for passengers.
North America and Europe remain the largest markets for bus manufacturers, primarily due to the adoption of green technology and government initiatives promoting sustainable public transportation systems. Asia-Pacific, especially China and India, is also witnessing robust growth due to their rapidly expanding urban populations and the need to modernize transportation infrastructures.
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FAW
Lion Bus
Trans Tech
Starcraft Bus
Blue Bird Corporation
Thomas Built Buses
Alexander Dennis
IC Bus
Mercedes-Benz
Volvo
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Bus Manufacturing Market
Commercial
Industrial
Others
Based on Types the Market is categorized into Below types that held the largest Bus Manufacturing market share In 2023.
Diesel Fuel
Alternative Fuel
Hybrid-electric
Battery-powered
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Bus Manufacturing Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Bus Manufacturing Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Bus Manufacturing Market, By Type
6. Global Bus Manufacturing Market, By Application
7. Global Bus Manufacturing Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Bus Manufacturing Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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