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The U.S. Bus Market Will Reach about $11,238 Million by 2030

03-14-2023 05:28 AM CET | Tourism, Cars, Traffic

Press release from: P&S Intelligence

The U.S. Bus Market Will Reach about $11,238 Million by 2030

The U.S. bus market size stood at over $7,453 million in 2021. This will increase to about $11,238 million by 2030, propelling at a growth rate of about 5% in the years to come.

This can be credited to the quick urbanization and rising population, together with the cumulative government outlay on the upgradation of vehicles for public transport. Furthermore, the obtainability of local, state, and centralized funding and the large count of school buses help the market to grow.

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The school buses had the largest share of revenue, approximately 55%, in the U.S. bus market in 2021, and will continue the same trend also in the near future. This is for the reason that these buses are the main form of mass transportation in the U.S. Nearly 480,000 school buses were on the roads in 2021 in the U.S., more than transit buses roughly 7 to 1. Additionally, the surging acceptance of e- buses for school helps the market growth in the U.S.

Electric buses will grow at the highest rate of approximately 30%, in the years to come, regarding revenue. This is for the reason that the penetration of e- buses in the U.S. was about 2% of the total bus sales of the country in 2021, and the share of e- buses in public fleets is steadily increasing. Additionally, numerous public transport agencies have signed contracts with e- bus manufacturers for obtaining electric buses.

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The buses with 30-50 seats have the largest share of revenue in the U.S. bus market, and they will record the highest growth rate of approximately 5.0%, in the years to come. This is due to the fact that these can carry more travelers, use a smaller amount of fuel, and are economically competitive.
Because of rapid urbanization and population, a growing number of school buses has boosted the demand for buses in the U.S.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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