Bus Market Size, Share, Trends & Competitive Analysis By Type: City Bus, Intercity Bus, School Bus, Coach/Charter Bus, Electric Bus, Articulated Bus, Double-decker Bus, Minibus, Sightseeing Bus, Shuttle Bus By Application: By Fuel Type: By Seating Capacity: By Regions, and Industry Forecast, Global Report 2024-2032

The global Bus Market size was valued at USD 98.23 Billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 12.3% during the forecast period, reaching a value of USD 198.54 Billion by 2030.

Bus Market research report by Future Data Stats, offers a comprehensive view of the Market's historical data from 2019 to 2022, capturing trends, growth patterns, and key drivers. It establishes 2023 as the base year, analysing the Market landscape, consumer behaviour, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2024 to 2032, leveraging data analysis techniques to project the Market's growth trajectory, emerging opportunities, and anticipated challenges.


A bus is a large vehicle designed to transport passengers along a specific route, typically operating on a fixed schedule. It is a common mode of public transportation in urban and rural areas, offering an affordable and convenient way for people to travel. Buses come in various sizes and configurations, from small minibusses to large double-decker buses, accommodating different numbers of passengers. They play a crucial role in reducing traffic congestion and carbon emissions by providing an alternative to individual car travel.

In addition to public transportation, buses are also used for various other purposes, such as school transportation, shuttle services, and tourism. School buses, for example, are specially designed to safely transport students to and from school. Shuttle buses are often used to transport passengers between locations such as airports, hotels, and car rental facilities. In the tourism industry, sightseeing buses provide visitors with a convenient way to explore popular attractions in a city or region.


The increasing demand for sustainable transportation solutions. With growing concerns about environmental pollution and climate change, there is a rising preference for public transportation options like buses, which produce fewer emissions compared to individual cars. Additionally, government initiatives and regulations aimed at reducing carbon emissions are further driving the adoption of buses powered by alternative fuels such as electricity, natural gas, and hydrogen.

The high initial cost of purchasing buses, especially those equipped with advanced technologies such as electric or hybrid powertrains. Additionally, the lack of proper infrastructure, including charging or refueling stations for alternative fuel buses, poses a challenge to their widespread adoption.



The increasing demand for electric buses driven by the global focus on reducing carbon emissions and transitioning towards sustainable transportation solutions. Electric buses are gaining popularity due to their lower operating costs and reduced environmental impact compared to traditional diesel buses. Governments around the world are implementing stringent emission norms and offering incentives to promote the adoption of electric buses, further driving market growth.

Another significant factor impacting the bus market is the rise in demand for city buses. With rapid urbanization, there is a growing need for efficient and reliable public transportation systems to alleviate traffic congestion and reduce pollution in cities. City buses play a crucial role in meeting this demand by providing affordable and accessible transportation options for urban residents. The increasing focus on smart city initiatives and the integration of advanced technologies in public transportation systems are further driving the demand for modern city buses equipped with features such as real-time tracking, Wi-Fi connectivity, and low-floor designs for enhanced accessibility.

Furthermore, the market for coach/charter buses is experiencing steady growth due to the rising popularity of group travel and tourism. Coach buses offer comfortable and convenient travel options for long-distance journeys, tours, and special events. With increasing disposable income and a growing preference for experiential travel, the demand for coach and charter buses equipped with luxury amenities and advanced safety features is on the rise.


Public transportation remains a primary driver of the bus market, with increasing urbanization leading to a higher demand for efficient and sustainable transit options. Public buses play a crucial role in providing affordable and accessible transportation for urban residents, helping to alleviate traffic congestion and reduce carbon emissions. Government initiatives aimed at improving public transportation infrastructure and reducing reliance on private vehicles are further driving the demand for buses in this segment.

In addition to public transportation, the tourism and sightseeing sector is a significant contributor to the bus market. Tourist buses and sightseeing coaches provide visitors with a convenient way to explore popular attractions and landmarks in cities and tourist destinations. The growing trend of experiential travel and the rising number of international tourists are driving the demand for comfortable and well-equipped buses with amenities such as air conditioning, multimedia systems, and panoramic windows, enhancing the sightseeing experience.

Furthermore, buses play a vital role in school and college transportation, ensuring safe and reliable commute options for students. With an increasing focus on student safety and the need for efficient transportation services, there is a growing demand for school buses equipped with advanced safety features and efficient route planning systems.


Diesel buses have historically been a mainstay in the market, offering robust performance and widespread availability of fuel infrastructure. However, with increasing environmental concerns and stringent emission regulations, there has been a notable shift towards cleaner fuel alternatives. Gasoline buses, while offering similar advantages to diesel, face similar environmental challenges and are gradually being replaced by more eco-friendly options.

Electric buses have emerged as a dominant force in the bus market, driven by the global push for sustainability and reduced carbon emissions. With advancements in battery technology and infrastructure, electric buses offer zero-emission transportation solutions, making them highly attractive for urban transit systems and environmentally conscious operators. Government incentives and mandates further propel the adoption of electric buses, fostering a competitive market landscape with innovative solutions from manufacturers.

Hybrid buses represent a transitional solution, combining traditional combustion engines with electric propulsion systems to enhance fuel efficiency and reduce emissions. These buses offer a practical bridge towards fully electric fleets, providing operators with flexibility and cost savings while reducing their environmental footprint.


Buses with less than 20 seats cater to niche markets such as shuttle services, tourist transport in narrow streets, and specialized transportation for small groups. These buses offer maneuverability and flexibility, making them ideal for urban routes with limited space and high traffic density. The compact size of these buses also allows for easier navigation through narrow roads and crowded city centers.

Buses with seating capacities ranging from 20 to 40 seats are widely used for public transportation, school transportation, and employee shuttles. They offer a balance between passenger capacity and maneuverability, making them versatile for various applications. These buses are commonly used for urban and suburban routes, providing a cost-effective and efficient means of transportation for medium-sized groups. Additionally, they are often equipped with modern amenities and safety features to enhance passenger comfort and satisfaction.

Buses with seating capacities exceeding 40 seats are typically used for inter-city transportation, long-distance travel, and charter services. With spacious interiors and ample seating, these buses offer comfort and convenience for large groups of passengers. They are equipped with amenities such as reclining seats, air conditioning, onboard entertainment systems, and restroom facilities, making them suitable for extended journeys.


In North America, the market is driven by a strong emphasis on public transportation infrastructure, particularly in urban centers. Stringent emission regulations and government initiatives promoting sustainable transportation solutions have led to an increased adoption of electric and hybrid buses. Additionally, the presence of key market players and technological advancements further contribute to the growth of the bus market in the region.

In Europe, the bus market is characterized by a growing demand for electric buses and a well-established public transportation network. Government subsidies and incentives for electric vehicle adoption have accelerated the transition towards greener transportation solutions. Moreover, the region's focus on reducing carbon emissions and improving air quality has led to significant investments in electric and hybrid buses. With increasing urbanization and congestion in cities, there is a growing need for efficient and sustainable public transportation systems, further driving the demand for buses in Europe.


  • Volvo Group
  • Daimler AG
  • Scania AB
  • MAN Truck & Bus
  • Ashok Leyland
  • Tata Motors
  • Iveco
  • BYD Company Limited
  • Yutong Group
  • Zhongtong Bus Holding Co., Ltd.
  • Gillig Corporation
  • New Flyer Industries Inc.
  • Alexander Dennis Limited
  • Blue Bird Corporation
  • Van Hool NV
  • Solaris Bus & Coach
  • Nova Bus Corporation
  • Otokar Otomotiv ve Savunma Sanayi A.Ş.
  • Anhui Ankai Automobile Co., Ltd.
  • Higer Bus Company Limited
  • King Long United Automotive Industry Co., Ltd.
  • Temsa Global
  • Marcopolo S.A.
  • Neoplan Bus GmbH
  • Wrightbus

Table of Contents
Market Overview
Market Dynamics
Bus Market Segmentation
By Type
By Application
By Fuel Type
By Seating Capacity
By Region
Competitive Landscape
Key Players
Market Share Analysis
Competitive Strategies
Recent Developments and Innovations
Market Outlook and Future Trends

Bus Market Segmentation

By Type:

  • City Bus
  • Intercity Bus
  • School Bus
  • Coach/Charter Bus
  • Electric Bus
  • Articulated Bus
  • Double-decker Bus
  • Minibus
  • Sightseeing Bus
  • Shuttle Bus

By Application:

  • Public Transportation
  • Tourism and Sightseeing
  • School and College Transportation
  • Employee Transportation
  • Chartered Tours and Excursions
  • Airport Transportation
  • Inter-city Transportation

By Fuel Type:

  • Diesel
  • Gasoline
  • Electric
  • Hybrid

By Seating Capacity:

  • Less than 20 Seats
  • 20-40 Seats
  • 40-60 Seats
  • More than 60 Seats

By Geography:

  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
  • South America (Brazil, Argentina, Columbia, Rest of South America)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

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With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.

This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.

Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.

With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:

  • Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through a well-audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of the marketplace

With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.

The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.

Primary Research:

Primary Research


Desk Research


Company Analysis


•       Identify key opinion leaders

•       Questionnaire design

•       In-depth Interviews

•       Coverage across the value chain


•       Company Website

•       Company Annual Reports

•       Paid Databases

•       Financial Reports


•       Market Participants

•       Key Strengths

•       Product Portfolio

•       Mapping as per Value Chain

•       Key focus segment


Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.

The aforementioned helps to:

  • Validate and improve data quality and strengthen the research proceeds
  • Develop a market understanding and expertise
  • Supply authentic information about the market size, share, growth, and forecasts

The primary research interview and discussion panels comprise experienced industry personnel.

These participants include, but are not limited to:

  • Chief executives and VPs of leading corporations specific to an industry
  • Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research:

A broad array of industry sources for the secondary research typically includes, but is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor  presentations for a competitive scenario and shape of the industry
  • Patent and regulatory databases to understand technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles, web-casts, and other related releases to evaluate the market
  • Internal and external proprietary databases, key market indicators, and relevant press releases for  market estimates and forecasts



•       Top executives of end-use industries

•       C-level executives of the leading Parenteral Nutrition companies

•       Sales manager and regional sales manager of the Parenteral Nutrition companies

•       Industry Consultants

•       Distributors/Suppliers


•       Annual Reports

•       Presentations

•       Company Websites

•       Press Releases

•       News Articles

•       Government Agencies’ Publications

•       Industry Publications

•       Paid Databases


Analyst Tools and Models:



·         Arriving at
Global Market Size

·         Arriving at
Market Size

·         Market Share
of Key Players

·         Key Market Players

·         Key Market Players

·         Market Share
of Key Players

·         Arriving at
Market Size

·         Arriving at
Global Market Size


Bus Market Dynamic Factors


  • Growing demand for public transportation
  • Increasing urbanization
  • Government initiatives to promote sustainable transportation
  • Technological advancements in bus manufacturing
  • Rising concerns regarding air pollution


  • High initial investment costs
  • Lack of proper infrastructure
  • Competition from other modes of transportation
  • Regulatory challenges and standards


  • Rising demand for electric and hybrid buses
  • Expansion of bus rapid transit (BRT) systems
  • Emerging markets in Asia-Pacific and Latin America
  • Adoption of smart technologies in buses


  • Maintenance and operational costs
  • Integration of new technologies
  • Addressing range limitations of electric buses
  • Ensuring passenger safety and comfort

Frequently Asked Questions

The global Bus Market size was valued at USD 98.23 Billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 12.3% during the forecast period, reaching a value of USD 198.54 Billion by 2030.

The key factors that drive the growth of the Bus Market include increasing urbanization, growing demand for public transportation, government initiatives promoting sustainable mobility, and advancements in electric and hybrid bus technologies.

In terms of current trends and advancements in the Bus Market, there is a rising focus on the development of autonomous buses, integration of digital technologies for enhanced passenger experience, and the adoption of alternative fuels to reduce emissions.

Several regions and countries are expected to dominate the Bus Market, including China, India, and certain European countries like Germany and the United Kingdom. These regions have large populations, high urbanization rates, and strong government support for public transportation infrastructure.

The Bus Market faces major challenges such as the high upfront costs of electric and autonomous buses, limited charging infrastructure, and the need for skilled technicians to maintain advanced bus technologies. However, these challenges also present opportunities for innovation, investment, and partnerships in the development of sustainable and efficient bus systems.
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