Bus Market Grow with a CAGR of 8.17% through 2030
The Global Bus Market is
growing due to rising urbanization, increasing demand for public transport, and
government support for clean mobility.
According to
TechSci Research report, “Bus Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2030F”, the global Bus
Market stood at USD 124.45
Billion in 2024 and is expected to grow USD 199.31
Billion by 2030 with a CAGR of 8.17% during the forecast period. The
global bus market is undergoing a transformative phase driven by the
convergence of environmental sustainability goals, technological advancements,
and changing urban mobility needs. As cities across the world continue to
expand, the demand for efficient, affordable, and reliable public
transportation is rising significantly. Buses play a pivotal role in addressing
urban traffic congestion and reducing individual car ownership, especially in
developing regions where rapid urbanization and population growth are putting
immense pressure on public transit systems. Governments and municipalities are
investing in the expansion and modernization of bus fleets to improve
accessibility, reduce emissions, and offer better services to commuters. This
has turned the bus market into a central component of sustainable urban
development policies worldwide.
With
global emphasis on reducing carbon emissions and combating air pollution,
electric buses have emerged as the fastest growing segment within the market.
Countries like China, India, and several European nations are leading the
transition, supported by robust policy frameworks, incentives, and
infrastructure development. Electric buses are favored not only for their
environmental benefits but also for their lower long-term operational and
maintenance costs. Improvements in battery technology and charging
infrastructure are making electric buses more feasible for a wide range of
applications, from city commuting to intercity travel. This shift is also
encouraging innovation in electric powertrains and energy management systems,
further accelerating adoption globally.
Fleet
operators and city transport authorities are increasingly embracing digital
transformation through the deployment of connected and intelligent buses
equipped with GPS tracking, telematics, automated fare systems, and passenger
information displays. These technologies enhance fleet management, optimize
route planning, and improve passenger experience. Real-time data analytics
enable better decision-making, predictive maintenance, and fuel efficiency. The
integration of such systems is especially relevant in the context of smart
cities, where transportation must be aligned with broader data-driven urban
planning initiatives. Furthermore, Mobility-as-a-Service (MaaS) platforms and
Bus-as-a-Service (BaaS) models are redefining how transportation services are
delivered, shifting the focus from ownership to service-oriented mobility
solutions.
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over xx market data figures spread through xx Pages and an in-depth TOC on
"Global Bus Market”
The global Bus
Market is segmented into fuel type, seating capacity, application, length and
region.
Based on fuel
type, diesel remains the dominating segment in the global bus market due to its
widespread availability, well-established fueling infrastructure, and lower
upfront costs compared to electric and hybrid alternatives. Diesel buses have
long been the preferred choice for both urban and intercity transit,
particularly in developing regions where affordability and operational
simplicity are key considerations. Their ability to cover long distances
without the need for specialized infrastructure makes them ideal for rural and
remote routes. Additionally, ongoing improvements in diesel engine efficiency
and compliance with stricter emission norms, such as Euro VI and Bharat Stage
VI, have allowed diesel buses to maintain their relevance. Despite the global
shift toward cleaner alternatives, diesel continues to hold the largest share
in the overall bus fleet.
Based
on region, The Middle East & Africa region is emerging as the
fastest-growing area in the global bus market, driven by increasing government
focus on sustainable urban mobility and the electrification of public transport
fleets. Countries like Saudi Arabia, the UAE, and South Africa are actively
investing in electric buses, supporting infrastructure, and public-private
partnerships to modernize their transit systems. In parallel, African nations
are witnessing the rise of innovative mobility startups introducing affordable
electric bus solutions to address urban congestion and pollution. These efforts
are being reinforced by national sustainability goals and growing urban
populations, positioning the region as a dynamic hub for rapid transit
transformation and long-term market expansion.
Major companies
operating in the global Bus Market are:
- Mercedes-benz
Group Ag
- Ab
Volvo
- Byd
Motors Inc.
- Jiangling
Motors Co. Group
- BAIC
Group
- Xiamen
King Long Motor Group
- Shanghai
Automotive Industry Corporation
- Changan
Automobile Group
- Dongfeng
Motor Corp.
- Yutong
Bus Group
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“The global bus market is driven by
rising urbanization, growing demand for public transportation, and strong
government support for cleaner mobility solutions. At the same time, major
trends such as the adoption of electric and connected buses, the rise of
Mobility-as-a-Service (MaaS), and the shift toward accessible and inclusive
designs are reshaping the industry. Technological advancements in battery
efficiency and digital fleet management are improving operational performance.
The increasing use of alternative fuels like hydrogen and bio-CNG is also
gaining traction.,” said Mr. Karan Chechi, Research Director of
TechSci Research, a research-based management consulting firm.
“Bus Market – Global
Industry Size, Share, Trends, Opportunity and Forecast, By Fuel Type (Diesel,
Electric, Hybrid, Others), By Seating Capacity (Up to 30 Seats, 31-50 Seats,
More than 50 Seats), By Application (Intercity, Intracity), By Length (Up to 6-8
Meters, 8-10 Meters, 10-12 Meters, Above 12 Meters), By Region &
Competition, 2020-2030F”, has evaluated the future growth potential of global
Bus Market and provides statistics & information on market size, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global Bus Market.
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