How Do Schools Contribute to U.S. Bus Industry Revenue?

In 2021, the U.S. bus market contributes $7,453.4 million, and it is projected to rise at a rate of 4.7%, to generate $11,237.7 million revenue by 2030. It is attributed to rising urbanization, and population explosion, coupled with the growing expenditure of government on public transport upgradation. In addition, the funding from local, state, and federal governments, as well as the rising traction of the school buses fuels the growth of the bus industry in the U.S.

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School buses capture a significant share of the industry, accounting for 55%, and it is predicted to follow the trend in the near future. It is a due significant share of these buses in the coming future. Around 480,00 school buses run on the roads of the country, acquiring a larger proportion than the transit buses with a 7:1 ratio.

Buses with a capacity of 30 to 50 seats capture a significant share of the industry, and it is predicted to advance at a rate of 5% in the coming years. These buses occupy more passengers, consume less fuel, and hence turn out to be economically efficient.

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Moreover, it has largely reduced crash rates and severity compared to automotive travel. The commutation from public transport is 10 times safer compared to the automobile commutation. In addition, public transport helps in reducing accidents by 90% compared to car travel. All such factors lead to industry proliferation.

Moreover, the rising adoption of electric buses in schools is likely to proliferate the industry. More than 12000 electric school buses experienced traction on the roads of the U.S. on March 31, 2022. It is higher than the 10,000 extra electric school buses released by WRI on January 2022 dataset.
With the reopening of the schools, it is likely to see more than 25 million students catching the bus in the early morning. More than 50% of children commute to reach school in smoke-belching, yellow buses.

Over 2000 school buses in NYC converted to CNG in the last 20 years. In addition, Governor Kathy Hochul proposed an agreement with the legislature of New York to convert 50,000 buses to electric buses by 2035. The buses purchased after 2026 onwards or from 2027 must be equipped with electric-drive technology in the city.

Therefore, the rising traction of the buses on the roads of the U.S., with increasing adoption of the electric school buses lead to industry propulsion.

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