Bus Market: Size, Share and Growth | Forecast Report 2022-2027

Bus Market

According to the latest report by IMARC Group, “Global Bus Industry Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global bus market reached a value of US$ 43.84 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 68.79 Billion by 2027, exhibiting a CAGR of 7.20% during 2022-2027.

A bus is a motor vehicle designed to transport passengers from one city or place to another, generally along a fixed bus route and schedule. Some commonly available buses are single-deck, trolleybuses, coach, transit, mini, shuttle, double-decker, electric, and articulated buses. They are cost-effective, provide secure transportation and easy access, minimize pollution and road congestion, and save time which can be used for other crucial tasks. As a result, buses are widely adopted for easy transportation and convenience, eliminating traffic congestion and minimizing carbon emissions across the globe.

Request a Free PDF Sample for more detailed market insights: https://www.imarcgroup.com/bus-market/requestsample

Market Trends and Drivers:

The market is primarily driven by the significant expansion in the public transportation sector. In addition, the escalating demand for public transportation among individuals on account of cost-effectiveness, inflating fuel prices, and improving road networks is contributing to market growth. Moreover, various technological advancements, such as the introduction of intelligent communication technology (ICT) and smart tracking solutions, represent another major growth-inducing factor.

Apart from this, governments of numerous countries are taking initiatives to encourage the use of electric buses and minimize greenhouse gas (GHGs) emissions due to rising environmental awareness, which is providing a positive thrust to the market growth. Along with this, the integration of smart traffic lights (STL) management systems to reduce road congestion and the widespread adoption of buses in hospitals, educational institutions, and corporate offices are propelling the market growth. Furthermore, the increasing automation of the transportation industry, the surging need to connect rural areas to cities, and mergers and acquisitions (M&A) among key market players are also creating a favorable market outlook across the globe.

Global Bus Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Bus Companies:

Ashok Leyland (Hinduja Group), BYD Company Ltd., IVECO S.p.A, Mercedes-Benz Group AG, NFI Group, Solaris Bus & Coach sp. z o.o. (Construcciones y Auxiliar de Ferrocarriles S.A.), Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Tata Motors Limited, AB Volvo, Anhui Ankai Automobile Co. Ltd., Traton Group (Volkswagen AG), Xiamen King Long United Automotive Industry Co. Ltd. and Zhengzhou Yutong Bus Co. Ltd.

The report has segmented the market on the basis of type, fuel type, seat capacity, application and region.

Breakup by type:

  • Single Deck
  • Double Deck

Breakup by Fuel Type:

  • Diesel
  • Electric and Hybrid
  • Others

Breakup by Seat Capacity:

  • 15-30 Seats
  • 31-50 Seats
  • More than 50 Seats

Breakup by Application:

  • Transit Bus
  • Intercity/Coaches
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Ask an Analyst: https://www.imarcgroup.com/request?type=report&id=5333&flag=C

Note: We are updating our reports, if you want the report with the latest primary and secondary data (2023-2028) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Services Private Limited.
134 N 4th St.
Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

By Alex