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Press Release:

Global Bus Market to Reach US$ 68.79 Billion by 2027, Impelled by Increasing Preference for Public Transportation

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

A bus is a large motor vehicle designed for facilitating the movement of people within a city or to remote locations along a fixed route and schedule. It is one of the widely used forms of public transport across the globe that reduces air pollution and requires less fuel to move passengers and minimal investments to launch new lines or routes. At present, there is a rise in the number of people travelling via bus on account of inflating fuel prices, increasing traffic congestion and roadway expansion costs, and changing consumer preferences.

 

 
 

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Bus Market Trends:

Due to rising environmental concerns, there is an increase in the number of people opting for public transport. This represents one of the key factors bolstering the growth of the market. Moreover, buses help individuals in social inclusion and avail benefits of education, employment, and healthcare facilities. They are also used for advertising about different products and political and public information campaigns. In addition, as they are operated by professional drivers, buses have a lower accident rate than other automobiles. This, coupled with the introduction of smart traffic lights (STL) management systems to reduce road congestion, is driving the market. Besides this, key players are focusing on strategic developments and mergers and acquisitions (M&A) to expand their geographical presence. Furthermore, governments of numerous countries are encouraging the adoption of electric buses to reduce the emissions of greenhouse (GHGs) gases, which is positively influencing the market. Some of the other factors, such as concessionary travel bus passes, rising automation in the transportation industry, rapid urbanization, and the increasing use of big data to optimize routes, vehicle dispatch, and schedules, are facilitating the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global bus market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, fuel type, seat capacity and application.

Breakup by Type:

 

 
 

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  • 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:

 

 
 

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  • 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:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AB Volvo, Anhui Ankai Automobile Co. Ltd., 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, Traton Group (Volkswagen AG), Xiamen King Long United Automotive Industry Co. Ltd. and Zhengzhou Yutong Bus Co. Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Fuel Type, Seat Capacity, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered AB Volvo, Anhui Ankai Automobile Co. Ltd., 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, Traton Group (Volkswagen AG), Xiamen King Long United Automotive Industry Co. Ltd. and Zhengzhou Yutong Bus Co. Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Bus Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Single Deck
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Double Deck
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Fuel Type
    7.1    Diesel
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Electric and Hybrid
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Others
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Seat Capacity
    8.1    15-30 Seats
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    31-50 Seats
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    More than 50 Seats
        8.3.1 Market Trends
        8.3.2 Market Forecast
9    Market Breakup by Application
    9.1    Transit Bus
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Intercity/Coaches
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Others
        9.3.1 Market Trends
        9.3.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis
    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    AB Volvo
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Anhui Ankai Automobile Co. Ltd.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
           15.3.2.3 Financials
        15.3.3    Ashok Leyland (Hinduja Group)
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
           15.3.3.3 Financials
           15.3.3.4 SWOT Analysis
        15.3.4    BYD Company Ltd.
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
           15.3.4.3 Financials
           15.3.4.4 SWOT Analysis
        15.3.5    IVECO S.p.A
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
        15.3.6    Mercedes-Benz Group AG
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
           15.3.6.3 Financials
           15.3.6.4 SWOT Analysis
        15.3.7    NFI Group
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
           15.3.7.3 Financials
        15.3.8    Solaris Bus & Coach sp. z o.o. (Construcciones y Auxiliar de Ferrocarriles S.A.)
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
        15.3.9    Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
        15.3.10    Tata Motors Limited
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials
           15.3.10.4 SWOT Analysis
        15.3.11    Traton Group (Volkswagen AG)
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
           15.3.11.3 Financials
        15.3.12    Xiamen King Long United Automotive Industry Co. Ltd.
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio
           15.3.12.3 Financials
        15.3.13    Zhengzhou Yutong Bus Co. Ltd.
           15.3.13.1 Company Overview
           15.3.13.2 Product Portfolio
           15.3.13.3 Financials

List of Figures

Figure 1: Global: Bus Market: Major Drivers and Challenges
Figure 2: Global: Bus Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Bus Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Bus Market: Breakup by Type (in %), 2021
Figure 5: Global: Bus Market: Breakup by Fuel Type (in %), 2021
Figure 6: Global: Bus Market: Breakup by Seat Capacity (in %), 2021
Figure 7: Global: Bus Market: Breakup by Application (in %), 2021
Figure 8: Global: Bus Market: Breakup by Region (in %), 2021
Figure 9: Global: Bus (Single Deck) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Bus (Single Deck) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Bus (Double Deck) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Bus (Double Deck) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Bus (Diesel) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Bus (Diesel) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Bus (Electric and Hybrid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Bus (Electric and Hybrid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Bus (Other Fuel Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Bus (Other Fuel Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Bus (15-30 Seats) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Bus (15-30 Seats) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Bus (31-50 Seats) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Bus (31-50 Seats) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Bus (More than 50 Seats) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Bus (More than 50 Seats) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Bus (Transit Bus) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Bus (Transit Bus) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Bus (Intercity/Coaches) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Bus (Intercity/Coaches) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Bus (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Bus (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: North America: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: North America: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: United States: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: United States: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Canada: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Canada: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Asia-Pacific: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Asia-Pacific: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: China: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: China: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Japan: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Japan: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: India: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: India: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: South Korea: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: South Korea: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Australia: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Australia: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Indonesia: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Indonesia: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Others: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Others: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Europe: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Europe: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Germany: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Germany: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: France: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: France: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: United Kingdom: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: United Kingdom: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Italy: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Italy: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Spain: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Spain: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Russia: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Russia: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Others: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Others: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Latin America: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Latin America: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Brazil: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Brazil: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Mexico: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Mexico: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Others: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Others: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Middle East and Africa: Bus Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Middle East and Africa: Bus Market: Breakup by Country (in %), 2021
Figure 79: Middle East and Africa: Bus Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Global: Bus Industry: SWOT Analysis
Figure 81: Global: Bus Industry: Value Chain Analysis
Figure 82: Global: Bus Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Bus Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Bus Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Bus Market Forecast: Breakup by Fuel Type (in Million US$), 2022-2027
Table 4: Global: Bus Market Forecast: Breakup by Seat Capacity (in Million US$), 2022-2027
Table 5: Global: Bus Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 6: Global: Bus Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Bus Market: Competitive Structure
Table 8: Global: Bus Market: Key Players

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Key Questions Answered in This Report

The global bus market was valued at US$ 43.84 Billion in 2021.

We expect the global bus market to exhibit a CAGR of 7.20% during 2022-2027.

The emergence of electric buses to reduce GHG emissions, along with the growing application of Big Data software to optimize routes, vehicle dispatch times, schedules, etc., is currently driving the global bus market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary restrictions on public transports and growing shift towards private vehicles to combat the risk of the coronavirus infection.

Based on the type, the global bus market can be categorized into single deck and double deck. Currently, single deck buses exhibit clear dominance in the market.

Based on the fuel type, the global bus market has been segmented into diesel, electric and hybrid, and others. Among these, diesel represents the largest market share.

Based on the application, the global bus market can be bifurcated into transit bus, intercity/coaches, and others. Currently, transit bus accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.

Some of the major players in the global bus market include AB Volvo, Anhui Ankai Automobile Co. Ltd., 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, Traton Group (Volkswagen AG), Xiamen King Long United Automotive Industry Co. Ltd., and Zhengzhou Yutong Bus Co. Ltd.

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