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Leading Growth Driver in the School Bus Market in 2025: Increasing School Enrollments Drive Growth In The School Bus Market Driver's Influence
School Bus Market Size
An increase in school enrollments is expected to drive the growth of the school bus market. School enrollment is rising globally, fueled by literacy initiatives and better access to education, particularly in developing regions. School buses play a vital role in ensuring students' safe transportation to school and related activities. For instance, the United States Census Bureau reported that school enrollment grew by 1.3 million students from 2021 to 2022, reaching 75.2 million students. Therefore, the rise in school enrollments is propelling the growth of the school bus market.
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What growth opportunities are expected to drive the school bus market's CAGR through 2034?
The school bus market has grown steadily in recent years. It is projected to grow from $18.29 billion in 2024 to $19.52 billion in 2025, with a CAGR of 6.7%. Key factors driving this growth include population increases, fluctuations in fuel prices, greater awareness of environmental issues, rising demand for electric school buses, and heightened concerns for student safety.
The school bus market is forecast to reach $24.93 billion by 2029 at a CAGR of 6.3%. This growth is due to environmental awareness, increasing demand for electric, hybrid, and propane buses, urbanization, and the expansion of infrastructure. Trends include innovations in vehicle design, technology integration in education, electromobility adoption, and infrastructure development.
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What are the emerging trends shaping the future of the school bus market?
Companies in the school bus market are innovating with new types of school buses, like type-D school buses, to better serve customers. Type-D school buses are constructed with a stripped chassis and are often used for transporting students on busy routes. For example, in October 2023, GreenPower Motor Company Inc., a Canadian electric bus manufacturer, launched the Mega BEAST, an all-electric Type D school bus. The Mega BEAST features a 387 kWh battery pack, allowing it to travel up to 300 miles on a single charge, making it ideal for long routes and rural areas.
Which growth-oriented segments of the school bus market are leading the industry's development?
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 companies are at the forefront of innovation in 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.
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What Is Covered In The School Bus Global Market Report?
•Market Size Forecast: Examine the school bus market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the school bus market for a structured understanding.
•Key Players Overview: Analyze major players in the school bus market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the school bus market.
•Segment Contributions: Evaluate how different segments drive overall growth in the school bus market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the school bus market.
•Industry Challenges: Identify potential risks and obstacles affecting the school bus market.
•Competitive Landscape: Review strategic developments in the school bus market, including expansions, agreements, and new product launches.
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