Bus Manufacturing Market was valued at USD 35.2 Billion in 2022 and is projected to reach USD 50.3 Billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
The global bus manufacturing market was valued at approximately USD 45.2 billion in 2022. The market is expected to experience a compound annual growth rate (CAGR) of 5.4% from 2023 to 2028. This growth is driven by increasing urbanization, a rising demand for public transportation, and advancements in bus technologies such as electric and autonomous buses. The shift towards greener and more sustainable transportation solutions is also contributing to market expansion. As cities around the world invest in upgrading their public transport infrastructure, the demand for new and technologically advanced buses is expected to rise significantly.
Emerging markets are presenting notable opportunities for growth in the bus manufacturing sector. Regions such as Asia-Pacific and Latin America are seeing rapid urban development, which is driving the need for improved public transport systems. In addition, government initiatives and subsidies aimed at reducing emissions and promoting electric vehicles are creating favorable conditions for market growth. The expansion of infrastructure and the adoption of smart city concepts are further fueling the demand for modern bus fleets, particularly in developing countries where public transportation is being modernized to meet increasing population needs.
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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, 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
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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