Bus Manufacturing Market size was valued at USD 30 Billion in 2024 and is forecasted to grow at a CAGR of 5% from 2026 to 2033, reaching USD 45 Billion by 2033.
The global bus manufacturing market was valued at approximately USD 44.6 billion in 2022 and is projected to grow at a CAGR of 5.2% from 2023 to 2030. North America holds a significant share of the market, with a valuation of around USD 9.1 billion in 2022. The demand for buses in this region is primarily driven by the need for public transportation and the growing adoption of electric buses. Europe follows closely with a market value of approximately USD 12.3 billion in 2022, where stringent environmental regulations and increased government support for clean energy solutions are pushing the adoption of eco friendly bus models. The Asia Pacific region is expected to witness the highest growth rate, with an anticipated CAGR of 6.1%, driven by rapid urbanization and the growing focus on upgrading public transportation infrastructure in emerging economies such as China and India.
In terms of opportunities, the demand for electric buses is gaining momentum across all regions, particularly in Europe and North America, where governments are offering incentives for electric vehicle adoption. Latin America and the Middle East & Africa also present significant growth opportunities, driven by increasing urbanization and the development of new public transport networks. The Asia Pacific market will continue to lead in terms of volume, with an expanding middle class and greater government investments in mass transit systems contributing to the growth. The market is also witnessing a shift toward technological advancements, with autonomous and connected buses expected to play a crucial role in the future expansion of the industry.
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FAW
Lion Bus
Trans Tech
Starcraft Bus
Blue Bird Corporation
Thomas Built Buses
Alexander Dennis
IC Bus
Mercedes-Benz
Volvo
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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. 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
City Buses
Intercity Buses
School Buses
Luxury Coaches
Electric Buses
Hybrid Buses
Diesel Buses
Compressed Natural Gas (CNG) Buses
Electric Buses
Hybrid Buses
Conventional Buses
Smart Buses
Connected Buses
Autonomous Buses
Public Transportation Authorities
Private Transportation Companies
School Districts
Tour Operators
Corporate Fleets
Up to 30 Passengers
31 to 50 Passengers
51 to 70 Passengers
More than 70 Passengers
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, 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
US
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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