Press release
Bus Market is expected to achieve a remarkable CAGR of 7.1 percent from 2023 to 2029, ultimately reaching USD 26.18 Billion
Bus Market
The global bus market has been experiencing rapid growth, fueled by increasing urbanization, growing population, and the demand for sustainable transportation solutions. Government initiatives, infrastructure development, and economic conditions in different regions significantly impact the market size. Our comprehensive bus market report offers a detailed analysis of market size, share, segment-wise and region-wise dynamics, including growth drivers, major restraints, future opportunities, and upcoming challenges.
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Bus Market Dynamics:
Increasing Investments in the Bus Market-
Compared to rail-based transport, bus-based public transportation is considered more cost-effective. Governments, public transportation agencies, and private companies are making substantial investments in the development of electric buses and charging infrastructure. For instance, Proterra recently secured a USD 200 million investment from various financial firms, supporting the growth of electric buses and charging stations. The growing demand for buses necessitates the expansion of infrastructure, including bus depots, terminals, and charging stations.
Rising Trend of Electric Buses-
The Electric Bus Market is expected to grow at a CAGR of 43.2 percent during the forecast period. Increasing focus on reducing greenhouse gas emissions and improving air quality drives the demand for electric buses. Governments worldwide are implementing favorable policies, incentives, and grants to accelerate the adoption of electric buses due to their cost-effectiveness, reduced maintenance, and environmental benefits.
Bus Market Regional Insights:
Asia Pacific Bus Market: Dominated the global market in 2022, driven by population growth, rapid urbanization, increasing public transportation demand, and government initiatives. Notable players in China include Yutong, BYD, and King Long. India's market is also substantial, dominated by Tata Motors, Ashok Leyland, and Mahindra & Mahindra.
European Bus Market: Held a significant share in 2022 and is expected to grow rapidly. Stringent emission standards and regulations drive the development of clean and fuel-efficient buses. The demand for electric and hybrid buses is increasing due to environmental regulations and a focus on sustainable transportation.
North American Bus Market: Expected to grow rapidly, with a focus on reducing carbon emissions through electric buses and alternative fuels like CNG and propane.
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Bus Market Segmentation:
Seating Capacity: Small Bus (Up to 15 passengers), Medium Bus (16 to 35 passengers), and Large Bus (36+ passengers). The Medium Bus segment dominated in 2022 and is expected to continue its growth.
Distribution Channel: Domestic Market and International Market. The domestic market segment held the largest share in 2022, while the international market is expected to grow.
Sales Channel: Online and Offline. Online sales dominated the market in 2022, driven by the growing e-commerce trend.
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Bus Market Key Players:
1. Anhui Ankai Automobile Co. Ltd
2. BYD Company Limited
3. Alexander Dennis Limited (ADL)
4. King Long United Automotive Industry Co. Ltd.
5. Zhengzhou Yutong Group Co. Ltd
6. Zhongtong Bus Holding Co. Ltd
7. NFI Group Inc.
8. AB Volvo
9. Solaris Bus & Coach sp. z o.o.
10. Daimler Truck Holding AG
11. Mobico Group
12. Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd
13. Tata Motors Limited
14. Mercedes-Benz Group AG
15. Marcopolo S.A.
16. New Flyer Industries
17. Ashok Leyland
18. Mahindra & Mahindra
19. Proterra
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Table of content for the Bus Market includes:
1. Global Bus Market: Research Methodology
2.
Global Bus Market: Executive Summary
•
Market Overview and Definitions
● Introduction to the Global Market
● Summary
● Key Findings
● Recommendations for Investors
● Recommendations for Market Leaders
● Recommendations for New Market Entry
3.Global Bus Market: Competitive Analysis
•
MMR Competition Matrix
● Market Structure by region
● Competitive Benchmarking of Key Players
● Consolidation in the Market
● M&A by region
● Key Developments by Companies
● Market Drivers
● Market Restraints
● Market Opportunities
● Market Challenges
● Market Dynamics
● PORTERS Five Forces Analysis
● PESTLE
● Regulatory Landscape by region
● North America
● Europe
● Asia Pacific
● Middle East and Africa
● South America
● COVID-19 Impact
4 . Company Profile: Key players
•
Company Overview
● Financial Overview
● Global Presence
● Capacity Portfolio
● Business Strategy
● Recent Developments
Key Offerings:
● Past Market Size and Competitive Landscape (2022 to 2029)
● Past Pricing and price curve by region (2022 to 2029)
● Market Size, Share, Size and Forecast by different segment | 2022-2029
● Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
● Market Segmentation - A detailed analysis by growth and trend
● Competitive Landscape - Profiles of selected key players by region from a strategic perspective
● Competitive landscape - Market Leaders, Market Followers, Regional player
● Competitive benchmarking of key players by region
● PESTLE Analysis
● PORTER's analysis
● Value chain and supply chain analysis
● Legal Aspects of business by region
● Lucrative business opportunities with SWOT analysis
● Recommendations
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