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Prominent School Bus Market Trend for 2025: Technological Advancements In The School Bus Market
School Bus Market
In recent times, the school bus market has experienced substantial expansion. Its worth, anticipated to climb from $18.29 billion in 2024 to $19.52 billion in 2025, is predicted to progress at a compound annual growth rate (CAGR) of 6.7%. The growth witnessed in the past can be traced back to the rise in population, volatile fuel prices, heightened environmental consciousness, surge in demand for electric school buses, and the escalating emphasis on student safety.
The market size of the school bus industry is predicted to experience robust expansion in the forthcoming years, amplifying to $24.93 billion in 2029 with a compound annual growth rate (CAGR) of 6.3%. The anticipated growth during this period can be credited to heightened environmental consciousness, increasing requirement for electric school buses, urbanization surge, escalating demand for hybrid and propane school buses. The forecasted period is expected to witness trends such as enhancements in vehicle design, merging of technology in educational systems, infrastructure growth, incorporation of progressive technologies, and embracing of electromobility.
What Is Driving the Growth Trajectory of the School Bus Market?
The rising trend of school registrations is set to further push the expansion of the school bus market. The term school enrollment pertains to the act of planning to join a specific school and particular classes, encompassing the total number of learners currently present in a school or course. Global literacy initiatives on the rise and enhanced education accessibility, particularly in emergent regions, are major factors propelling the growth in school enrollments. School buses are used as a secure means of conveying students to and from school and related activities. For instance, the United States Census Bureau, a principal US-based agency of the U.S. Federal Statistical System, reported in December 2023 that the total school enrollment saw an increase of 1.3 million from 2021 to 2022, summing up to 75.2 million students enrolled in total. Public universities or colleges were the choice for 81.1% of students enrolled in college in 2022. Consequently, the rising count of school enrollments is bolstering the expansion of the school bus market.
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Which Leading Companies Are Shaping the Growth of the School Bus Market?
Major companies operating in the school bus market are Toyota Motor Corporation, Mercedes Benz Group AG, Ford Motor Co., Daimler Truck AG, AB Volvo, Traton SE, Tata Motors Ltd., Mahindra and Mahindra Ltd., Navistar Inc., Ashok Leyland Ltd., Yutong Bus Co. Ltd., Eicher Motors Ltd., Blue Bird Corporation, Thomas Built Buses, SML Isuzu Ltd., The Lion Electric Co., Collins Bus Corporation, IC Bus, GreenPower Motor Co. Inc., Van Con Inc., JCBL Limited, Starcraft Corp., Superior Coach Corp., Endera Motors, Trans Tech Bus Inc.
What Are the Major Trends Shaping the School Bus Market?
Leading firms within the school bus market are focusing their efforts on technological advances, such as type-D school buses, to more effectively cater to their clientele. Type D school buses, constructed using a stripped chassis, are typically utilized for student transportation in densely populated regions and on heavily traveled routes. These buses provide improved front service doors and enhanced driver visibility. For instance, in October 2023, GreenPower Motor Company Inc., an electric bus manufacturing and distribution company based in Canada, introduced the Mega BEAST, an all-electric Type D school bus. The Mega BEAST, claiming the longest range and largest battery pack in its category, comes with a 387 kWh battery pack, enabling a single-charge travel distance of up to 300 miles. This extended range makes it a perfect fit for longer routes, rural settings, and school districts lacking mid-day recharging facilities.
What Are the Key Segments of the School Bus Market?
The school bus market covered in this report is segmented -
1) By Type: Diesel Fuel, Alternative Fuel, Hybrid-Electric, Battery-Powered
2) By Capacity Design Type: Type A, Type B, Type C, Type D
3) By Application: Education, Law Enforcement, Community Outreach
Subsegments:
1) By Diesel Fuel: Standard Diesel-Powered School Buses, High-Efficiency Diesel-Powered School Buses
2) By Alternative Fuel: Compressed Natural Gas (CNG) School Buses, Propane-Powered School Buses, Hydrogen Fuel Cell School Buses
3) By Hybrid-Electric: Plug-in Hybrid Electric School Buses, Non-Plug-in Hybrid Electric School Buses
4) By Battery-Powered: Full Battery Electric School Buses, Long-Range Battery Electric School Buses
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Which Region Dominates the School Bus Market?
North America was the largest region in the school bus market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the school bus market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The School Bus Global Market Report?
- Market Size Analysis: Analyze the School Bus Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the School Bus Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall School Bus Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the School Bus Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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