Press release
Bus Market to reach USD 26.18 Bn by 2029, emerging at a CAGR of 7.1 percent and forecast 2023-2029
Bus Market
The Global Bus Market, with a market size valued at USD 16.2 Billion in 2022, is poised for remarkable growth. A projected Compound Annual Growth Rate (CAGR) of 7.1 percent is expected from 2023 to 2029, with the market's value set to reach USD 26.18 Billion.
The Bus Market report offers a comprehensive overview of the industry, covering segment-wise and region-wise dynamics. It explores the market's drivers, major restraints, upcoming challenges, future opportunities, and more. The report is an invaluable resource for businesses and stakeholders seeking to understand the global bus market.
Our report is based on extensive research, utilizing a rigorous and transparent methodology to ensure the accuracy and reliability of the findings. Through a combination of primary and secondary research, we provide a detailed and well-rounded analysis of the bus market.
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Bus Market Dynamics:
Increasing Investments in the Bus Market: Governments, public transportation agencies, and private companies are making substantial investments in the development of electric buses, charging infrastructure, and overall bus infrastructure. Notable examples include Proterra securing a USD 200 million investment, driving market growth.
Rising Trend of Electric Buses: The electric bus market is expected to grow at a remarkable CAGR of 43.2%, driven by environmental concerns, government incentives, lower operating costs, and a better passenger experience.
Private Demand for Buses: Private demand for buses is gradually increasing, with companies, organizations, and events seeking efficient transportation solutions, contributing to the market's growth.
Traffic Congestion: Urban traffic congestion negatively impacts the efficiency and reliability of bus services, potentially reducing future demand for buses.
Infrastructure Issues: Inadequate or poorly maintained bus terminals, stops, and depots can deter passengers, hampering the attractiveness of bus services.
Fuel Price Fluctuations: Fluctuations in fuel prices impact the operational expenses of bus operators, posing challenges to maintain affordable fares and invest in technology.
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Regional Insights:
Asia Pacific: Dominated the global bus market in 2022, driven by a growing population, rapid urbanization, increasing demand for public transportation, and government initiatives. China and India are major players in the region.
Europe: The European bus market held a significant share in 2022, with a focus on clean and fuel-efficient vehicles driven by stringent emission standards and regulations.
North America: Expected to experience rapid growth due to the increasing popularity of electric buses and clean transportation options, with notable adoption in school districts.
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Bus Market Segmentation:
by Type
Transit Bus
School Bus
Coach/Intercity Bus
Shuttle Bus
Mini Bus
by Seating Capacity
Small Bus (Up to 15 passengers)
Medium Bus (16 to 35 passengers)
Large Bus (36 + passengers)
by Fuel Type
Petrol
Diesel
Natural Cas
Electric
Hybrid
by Application
Urban Transit
School Transportation
Tourism and Charter
Employee Transportation
Airport
Hotel Shuttle
by Distribution Channel
Domestic Market
International Market
by Sales Channel
Online
Offline
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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