Increasing School Enrollments Drive Growth In The School Bus Market: Strategic Insights Driving School Bus Market Momentum in 2025

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How Large Will the School Bus Market Size By 2025?
The size of the school bus market has seen robust growth in the previous years. It is projected to increase from $18.29 billion in 2024 to $19.52 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.7%. The historical growth is owed to factors such as rising population, volatile fuel prices, heightened environmental awareness, surge in demand for electric school buses, and enhanced attention to student safety.

How Big Is the School Bus Market Size Expected to Grow by 2029?
The size of the school bus market is predicted to experience substantial growth in the coming years, reaching $24.93 billion in 2029 with a compound annual growth rate (CAGR) of 6.3%. The expansion projected during the forecast period can be credited to factors such as increasing environmental consciousness, surge in demand for electric and hybrid school buses, and rising demand for propane school buses due to growing urbanisation. Key trends expected during the forecast period involve advancements in vehicle design, incorporation of technology into education systems, infrastructural development, integration of cutting-edge technologies, and the implementation of electromobility.

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Which Key Market Drivers Powering School Bus Market Expansion and Growth?
The growth of the school bus market is anticipated to be spurred by the escalating numbers of school enrollments. School enrollment, the process in which students are registered to attend a particular institution or class, has been increasing due to enhanced global literacy campaigns and better accessibility to education, particularly in emerging regions. A school bus services primarily to transport students safely to and from school and other school-related activities. As an illustration, the United States Census Bureau, a predominant agency of the U.S. Federal Statistical System, stated that there was an increase of 1.3 million in total school enrollments during December 2023 compared to the numbers from 2021 to 2022. This surge led to approximately 75.2 million students being enrolled in that period. Furthermore, public universities or colleges were chosen by 81.1% of students who enrolled in college in 2022. Consequently, this surge in school enrollments is powering the expansion of the school bus market.

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Which Fast-Growing Trends Are Poised to Disrupt the School Bus Market?
Significant players in the school bus market, such as GreenPower Motor Company Inc., are prioritizing technological innovations like Type D school buses to better address their clientele's needs. Type D buses, which are assembled using a stripped chassis, are typically used for transporting students in populous zones and heavy traffic routes due to enhanced service doors and increased visibility for drivers. In a development from October 2023, GreenPower, an electric bus manufacturer headquartered in Canada, unveiled the Mega BEAST, a Type D electric bus with the longest range and largest battery capacity on the market. Equipped with a 387 kWh battery pack, the Mega BEAST can cover up to 300 miles on a single charge, making it well-suited for lengthier routes, rural locations, and schools without mid-day charging facilities.

What Are the Emerging Segments in 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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Who Are the Global Leaders 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.

Which are the Top Profitable Regional Markets for the School Bus Industry?
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.

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