Bus Market Size, Trends, Demand, Industry Report and Forecast to 2027

IMARC Group’s latest research report, titled “Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

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 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. 

Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/bus-market/requestsample

Important Attribute and highlights of the Report:

• Detailed analysis of the global market share
• Market Segmentation by type, fuel type, seat capacity, application and region.
• Historical, current, and projected size of the market in terms of volume and value
• Latest industry trends and developments
• Competitive Landscape for bus market
• Strategies of major players and product offerings

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 Coverage	Details
Market size value in 2021	US$ 43.84 Billion
Market forecast in 2027	US$ 68.79 Billion
Growth Rate	CAGR of 7.20% from 2022 to 2027
Base year for estimation	2021
Historical data	2016-2021
Forecast period	2022-2027

Key Players Included in Global Research Report:

• 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.

• Zhengzhou Yutong Bus Co. Ltd.

Do you know more information, Contact to our analyst at- https://www.imarcgroup.com/bus-market

COVID-19 Impact: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Segmentation:

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

TOC for the Bus Market Research Report:

• Preface

• Scope and Methodology

• Executive Summary

• Introduction

• Global Bus Market

• SWOT Analysis

• Value Chain Analysis

• Price Analysis

• Competitive Landscape

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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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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