Bus Market

Market Overview 2022-2027:

The latest research study “Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that 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.

Industry Definition and Application:

A bus is a large motor vehicle designed to ease the movement of individuals along a fixed route and schedule within a city or to remote locations. It is one of the most commonly used modes of public transportation across the world. It aids in reducing air pollution as it requires less fuel to move passengers and minimal investments to introduce new routes or lines. As a result, bus is gaining immense traction among travelers due to the increasing traffic congestion, elevating roadway expansion costs, changing consumer preferences, and inflating fuel prices.

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

Market Trends:

The global bus market is primarily driven by the increasing number of people opting for public transport and the rising environmental concerns. Moreover, the emerging applications of buses for the advertisement of different products and political and public information campaigns are positively influencing the market growth. Additionally, several favorable initiatives by governments of numerous countries to promote the adoption of electric buses to minimize the emissions of greenhouse gases (GHGs) have catalyzed market growth.

Besides this, various key players are focusing on strategic developments and mergers and acquisitions (M&A) to expand their geographical presence. Furthermore, buses are operated by professional drivers and have a lower accident rate than other automobiles. In line with this, the introduction of smart traffic lights (STL) management systems to reduce road congestion is contributing to market growth. Other factors, including the rising automation in the transportation industry, concessionary travel bus passes, and increasing usage of big data to optimize routes and vehicle dispatch, are also anticipated to drive the market further.

Bus Market Report Scope
Report CoverageDetails
Market size value in 2021US$ 43.84 Billion
Market forecast in 2027US$ 68.79 Billion
Growth RateCAGR of 7.20% from 2022 to 2027
Base year for estimation2021
Historical data2016-2021
Forecast period2022-2027
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredType, Fuel Type, Seat Capacity, Application and Region

Report Segmentation:

The report has been segmented the market into following categories:

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 Geography:

  • 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

Competitive Landscape with Key Player:

  • AB Volvo
  • Anhui Ankai Automobile Co. Ltd.
  • 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.
  • Ashok Leyland (Hinduja Group)
  • BYD Company Ltd.
  • IVECO S.p.A
  • Tata Motors Limited
  • Traton Group (Volkswagen AG)
  • Xiamen King Long United Automotive Industry Co. Ltd.
  • Zhengzhou Yutong Bus Co. Ltd.

Click here to view detailed information with table of content: https://www.imarcgroup.com/bus-market

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.
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Email: Sales@imarcgroup.com
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

Author

%d bloggers like this: