Study Period | 2017 - 2029 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2029 |
Market Size (2025) | USD 123.4 Billion |
Market Size (2029) | USD 193.2 Billion |
CAGR (2025 - 2029) | 11.86 % |
Market Concentration | Low |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Bus Market Analysis
The Bus Market size is estimated at 123.4 billion USD in 2025, and is expected to reach 193.2 billion USD by 2029, growing at a CAGR of 11.86% during the forecast period (2025-2029).
The bus industry is experiencing a transformative shift toward sustainable transportation solutions, driven by environmental concerns and technological advancements. This transition is particularly evident in the growing adoption of electric buses, which have demonstrated significant operational advantages over traditional diesel vehicles. The industry's evolution is characterized by substantial investments in research and development, focusing on improving battery technology, reducing manufacturing costs, and enhancing vehicle performance. Major manufacturers are increasingly forming strategic partnerships with technology providers to accelerate innovation and maintain competitive advantages in this rapidly evolving bus market.
The economics of bus sector operations are undergoing a fundamental transformation, with electric buses demonstrating compelling long-term cost benefits despite higher initial investments. Current market data reveals that while an electric bus costs approximately USD 750,000 compared to USD 500,000 for a diesel counterpart, the electric variants deliver substantial operational savings. Industry analysis shows that electric buses reduce maintenance and operating costs by 81-83% compared to diesel buses, with operators realizing fuel savings of USD 400,000 and maintenance savings of about USD 125,000 over the vehicle's lifetime. These economic advantages are driving increased adoption among fleet operators and public transportation authorities.
Infrastructure development remains a critical focus area for the bus industry, with manufacturers and operators working collaboratively to address charging station deployment challenges. The industry is witnessing the emergence of innovative charging solutions, including opportunity charging at bus stops and depot charging systems, designed to minimize operational disruptions. Manufacturers are increasingly offering comprehensive solutions that include both vehicles and charging infrastructure, simplifying the transition process for operators. This holistic approach is helping address one of the primary barriers to electric bus adoption while ensuring operational efficiency.
Technological innovation continues to drive industry advancement, with manufacturers focusing on developing next-generation electric buses with improved range, reliability, and passenger comfort. The industry is witnessing increased integration of smart technologies, including advanced fleet management systems, predictive maintenance capabilities, and enhanced passenger information systems. By 2030, industry projections indicate that electric bus prices will achieve parity with diesel buses, marking a significant milestone in the industry's evolution. This price convergence, combined with ongoing technological improvements, is expected to accelerate the transition toward electric buses across global markets. These bus trends are reshaping the public transportation market, ensuring a sustainable future.
Global Bus Market Trends
The rising global demand and government support propel electric vehicle market growth
- Electric vehicles (EVs) have become indispensable in the automotive industry, driven by their potential to enhance energy efficiency and reduce greenhouse gas and pollution emissions. This surge is primarily attributed to growing environmental concerns and supportive government initiatives. Notably, global EV sales witnessed a robust 10.82% growth in 2022 compared to 2021. Projections indicate that annual sales of electric passenger cars will surpass 5 million by the end of 2025, accounting for approximately 15% of total vehicle sales.
- Leading manufacturers and organizations, like the London Metropolitan Police & Fire Service, have been actively pursuing their electric mobility strategies. For instance, they have set a target of a zero-emission fleet by 2025, with a goal of electrifying 40% of their vans by 2030 and achieving full electrification by 2040. Similar trends are expected globally, with the period from 2024 to 2030 witnessing a surge in demand and sales of electric vehicles.
- Asia-Pacific and Europe are poised to dominate electric vehicle production, driven by their advancements in battery technology and vehicle electrification. In May 2020, Kia Motors Europe unveiled its "Plan S," signaling a strategic shift toward electrification. This decision came on the heels of record-breaking sales of Kia's EVs in Europe. Kia has ambitious plans to introduce 11 EV models globally by 2025, spanning various segments like passenger vehicles, SUVs, and MPVs. The company aims to achieve annual global EV sales of 500,000 by 2026.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Africa's demographic evolution demonstrates consistent growth with a notable acceleration in recent years
- Several European countries are facing population declines, while others are growing, indicating a need for targeted policy interventions
- North America's demographic story highlights steady growth and adaptability, with each nation contributing uniquely to the region's vibrant mosaic, underlining its continued global significance
- Despite a GDP per capita decline in 2022-2023, Africa shows potential for future economic stability through trade agreements and infrastructure development
- Europe's GDP per capita is on track for steady growth, reflecting resilience and strategic policies
- Despite challenges in 2020, by 2023, the US experienced growth, Mexico displayed a robust recovery, while Canada witnessed a dip
- South Africa's consumer vehicle population shows signs of stabilization
- European countries are experiencing growth in CVP, driven by government incentives for eco-friendly vehicles
- North America exhibits diverse trends in CVP, with Canada experiencing a slight decrease, the US seeing an increase, and Mexico showing significant growth
- South Africa, Kenya, and Morocco exhibit declining inflation rates, while Nigeria faces a sharp inflation increase
- Europe is poised for economic stability, with concerted efforts to manage inflation and foster a balanced economic landscape
- From 2017 to 2023, North America, particularly countries like the US and Canada, navigated inflationary spikes, especially post-pandemic in 2022
- Auto interest rates across Africa, Asia-Pacific, and North America showed significant regional diversity, influenced by a combination of economic policies, market dynamics, and global conditions
- The global MaaS market is growing significantly growth trajectory, indicating sustained expansion across all regions
- Battery pack prices in Africa continued to decline from USD 186 in 2022 to USD 176 in 2023, driven by technological advancements and increased market competition
- Declining battery prices and government initiatives drive demand for electric vehicles in Europe
- Declining prices of lithium-ion batteries drive the demand for electric vehicles in North America
- The global automotive industry will undergo a transformative phase, with a pronounced shift toward electrification from 2023 to 2025, followed by a period of refinement and consolidation in the subsequent years
- The auto industry's production landscape is witnessing a dramatic shift, with electric vehicle manufacturers like BYD Auto and Tesla seeing remarkable growth while traditional giants like GM adapt to changing market demands
- Countries like Australia, India, and Indonesia project a steady upward trajectory in GDP per capita, suggesting robust economic strategies and potential investment in the automotive industries
- Saudi Arabia and UAE, both pivotal nations in the Middle East, demonstrated population growth from 2017 to 2023. While there were slight dips for both countries in between, the overarching upward trend indicates their significant roles and attractions in the region
- South America's demographic narrative, represented by Brazil and Colombia, showcases a story of consistent growth, with Brazil experiencing a pronounced surge
- Asia-Pacific displays a panorama of economic evolution: from the relentless pursuits of emerging economies to the recalibrations of established ones, painting a picture of resilience, adaptation, and ambition
- Projections for the coming years indicate a steady growth trajectory for both the UAE's diversified sectors and its role as a regional business hub. This growth can be attributed to the country's focus on diversification efforts and strategic partnerships
- During 2017-2030, Brazil and Colombia displayed contrasting economic paths. While both faced downturns around 2020, Brazil's GDP per capita showed recovery by 2023, whereas Colombia witnessed a slight decline
- The Asia-Pacific's diverse consumer spending trends on vehicle purchases not only reflect the region's evolving economic conditions but also highlight the shifting consumer preferences and vehicular market dynamics across countries
- In the short term (2022-2023), Saudi Arabia maintained stable consumer spending for vehicle purchases, while the UAE experienced a slight decline, suggesting differing market dynamics
- Brazil and Colombia are expected to see an increase in consumer spending for vehicle purchases (CVP), indicating a recovering automotive market and growing consumer confidence
- Asia-Pacific’s varied inflation rates reflect the diverse economic challenges and responses of each nation, from battling pandemic-induced fluctuations to aiming for future stability through strategic economic policies
- From 2017 to 2030, the Middle East is expected to display varied inflationary patterns, with countries like Iran facing significant challenges, while others like Saudi Arabia and the UAE expected to show stability
- Projections indicate a trend toward economic stabilization and controlled inflation in the region, highlighting a concerted push to restore equilibrium and foster growth
- The global MaaS market is growing significantly growth trajectory, indicating sustained expansion across all regions
- Global efforts to expand and enhance EV infrastructure are signaling a collective push toward electrification
- The demand for EVs in Asia-Pacific is fueled by falling battery prices
- The Middle East's battery market: A continuous descent in prices and promising energy trends
- South America’s surging demand for electric vehicle batteries: falling costs and strategic alliances
- For over a year, Russia's invasion of Ukraine disrupted global crude oil and petroleum product markets
Segment Analysis: Propulsion Type
ICE Segment in Global Bus Market
The Internal Combustion Engine (ICE) segment maintains its dominant position in the global bus sector, commanding approximately 60% of the total market share in 2024. This substantial market presence is attributed to several factors, including the well-established refueling infrastructure, higher energy density of conventional fuels, and cost-effectiveness for long-distance travel and heavy-duty operations. The segment's strength is particularly evident in emerging markets where the charging infrastructure for alternative powertrains is still developing. Additionally, recent advancements in ICE technology have led to improved fuel efficiency and reduced emissions, helping maintain its appeal among fleet operators who prioritize proven reliability and lower initial investment costs.

FCEV Segment in Global Bus Market
The Fuel Cell Electric Vehicle (FCEV) segment is emerging as the fastest-growing segment in the global passenger bus market, with a projected growth rate of approximately 30% during 2024-2029. This remarkable growth is driven by increasing investments in hydrogen infrastructure, technological advancements in fuel cell technology, and a growing emphasis on zero-emission public transportation solutions. The segment's expansion is further supported by various government initiatives and collaborations between municipalities and technology providers. For instance, the European Metropolis of Lille's partnership with ENGIE for the Hyléos project demonstrates the growing confidence in hydrogen-powered buses. The Municipality of Bologna's commitment to procuring 127 hydrogen-powered buses further validates the segment's strong growth trajectory.
Remaining Segments in Propulsion Type
The remaining segments in the transit buses market propulsion types include Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), and Plug-in Hybrid Electric Vehicles (PHEV). These segments represent the industry's transition toward cleaner mobility solutions, each offering unique advantages. BEVs are gaining traction in urban transportation due to zero direct emissions and lower operating costs. HEVs provide a balanced solution combining conventional and electric powertrains, making them particularly suitable for diverse operating conditions. PHEVs offer the flexibility of both electric and conventional power sources, serving as an intermediate step in the transition to fully electric vehicles. These segments collectively contribute to the market's diversification and the broader goal of sustainable public transportation.
Bus Market Geography Segment Analysis
Bus Market in Africa
The African bus market demonstrates significant potential for growth, driven by rapid urbanization and increasing demand for public transportation solutions. The region's focus on developing sustainable transport infrastructure, particularly in major urban centers, has created opportunities for both conventional and electric bus manufacturers. South Africa emerges as a key market in the region, with its well-established public transport network and growing emphasis on modernizing its bus fleet. The market is characterized by a mix of local and international players, with increasing interest in electric and hybrid buses to address environmental concerns and reduce operating costs.

Bus Market in Asia-Pacific
The Asia-Pacific region represents a dynamic and rapidly evolving bus market, with diverse needs across different countries. China leads the regional market with its massive public transportation infrastructure and strong domestic manufacturing capabilities. India's market is driven by urbanization and government initiatives promoting cleaner public transport solutions, while Japan focuses on technological innovation and sustainable mobility solutions. The region shows strong adoption of electric buses, particularly in China, with other countries following suit in their transition to cleaner public transport options.
Bus Market in China
China maintains its position as the dominant force in the Asia-Pacific bus market, with approximately 59% market share expected in 2024. The country's leadership in electric bus adoption, supported by strong government policies and domestic manufacturing capabilities, has established it as a global benchmark. Chinese manufacturers have expanded their presence both domestically and internationally, offering competitive products across various segments. The country's focus on sustainable urban mobility solutions and continued investment in public transportation infrastructure reinforces its market leadership.
Bus Market in India
India emerges as one of the fastest-growing bus markets in the Asia-Pacific region, driven by rapid urbanization and increasing investment in public transportation infrastructure. The country's push towards electric mobility through various government initiatives has created new opportunities for both domestic and international manufacturers. The market benefits from strong domestic manufacturing capabilities and growing demand for both urban and inter-city buses. India's focus on developing smart cities and improving public transportation systems continues to drive market growth.
Bus Market in Europe
The European bus market is characterized by its strong focus on sustainability and technological innovation, with a significant shift towards electric and alternative fuel vehicles. Countries across the region are implementing strict emission regulations and providing incentives for clean mobility solutions. The market benefits from advanced infrastructure and strong government support for sustainable transportation initiatives. The Czech Republic stands out as a notable player in the region, while other European nations continue to invest in modernizing their public transport fleets.
Bus Market in Czech Republic
The Czech Republic maintains a strong position in the European bus industry, supported by its robust manufacturing infrastructure and strategic location. The country's bus industry benefits from a well-established supplier network and expertise in both conventional and alternative fuel vehicles. Local manufacturers have successfully expanded their presence in both domestic and export markets, while maintaining high quality and technological standards.
Bus Market in Middle East
The Middle Eastern bus market shows promising growth potential, driven by infrastructure development and increasing focus on public transportation solutions. Countries like Saudi Arabia and the UAE are leading the regional market transformation through significant investments in public transport infrastructure and adoption of modern bus fleets. The region's push towards diversifying transportation options and reducing dependence on private vehicles continues to drive market growth, with Saudi Arabia emerging as both the largest and fastest-growing market in the region.
Bus Market in North America
The North American bus market demonstrates strong growth potential, particularly in the electric bus segment. The United States leads the regional market with its extensive public transportation network and increasing focus on sustainable mobility solutions, while Canada shows the fastest growth rate in the region. Mexico's market is driven by urbanization and the need for efficient public transportation systems. The region's transition towards electric buses is supported by government initiatives and increasing environmental awareness, with major cities leading the adoption of zero-emission vehicles.
Bus Market in South America
The South American bus market continues to evolve, with Brazil leading the regional market while Colombia shows the fastest growth potential. The region's demand is driven by urbanization, the need for efficient public transportation systems, and increasing focus on sustainable mobility solutions. Countries across the region are investing in modernizing their bus fleets and infrastructure, with a growing interest in electric and alternative fuel vehicles. The market is characterized by a mix of local manufacturing capabilities and international partnerships, contributing to technological advancement and market growth.
Bus Industry Overview
Top Companies in Bus Market
The global bus market is characterized by the presence of major players like Zhengzhou Yutong Bus Co. Ltd, Daimler Truck Holding AG, King Long United Automotive Industry Co. Ltd, Tata Motors Limited, and Ashok Leyland Limited. These companies are actively pursuing product innovation through the development of electric and alternative fuel vehicles, with a particular focus on battery-electric and hydrogen fuel cell technologies. Operational agility is demonstrated through flexible manufacturing capabilities and rapid response to market demands, especially in emerging markets. Strategic moves include partnerships with technology providers for developing autonomous driving capabilities and establishing joint ventures for market expansion. Companies are also focusing on geographical expansion through new manufacturing facilities, particularly in high-growth regions like Asia-Pacific and Latin America, while strengthening their after-sales service networks globally.
Market Consolidation Drives Industry Evolution Pattern
The bus industry exhibits a moderate level of consolidation, with a mix of global conglomerates and regional specialists shaping the competitive landscape. Global players like BYD and Daimler leverage their extensive research and development capabilities, while regional players such as Ashok Leyland and Tata Motors maintain a strong local market presence through a deep understanding of regional requirements and established distribution networks. The market is witnessing increased collaboration between traditional manufacturers and technology companies, particularly in developing electric and autonomous bus solutions.
Merger and acquisition activities are primarily focused on acquiring technological capabilities, especially in electric powertrain and battery technology sectors. Companies are also pursuing strategic partnerships to strengthen their position in emerging markets and to share development costs for new technologies. The industry is seeing a trend of vertical integration, with manufacturers expanding into components and charging infrastructure to capture more value across the supply chain. Regional players are increasingly forming alliances with global manufacturers to access advanced technologies while maintaining their market presence.
Innovation and Sustainability Drive Future Success
Success in the bus market increasingly depends on manufacturers' ability to develop and commercialize sustainable transportation solutions while maintaining cost competitiveness. Companies must invest in electric and alternative fuel technologies while building robust supply chains for critical components like batteries and electronic systems. The ability to offer comprehensive mobility solutions, including fleet management services and charging infrastructure, is becoming crucial for market leadership. Manufacturers need to balance innovation with affordability, particularly in price-sensitive emerging markets.
For contenders looking to gain market share, focusing on specific market segments or regions while building strategic partnerships for technology access is crucial. Success factors include developing modular platforms that can accommodate multiple powertrains, establishing strong after-sales networks, and creating value-added services. The regulatory environment, particularly regarding emissions and safety standards, continues to shape market dynamics, with companies needing to maintain compliance while managing costs. End-user preferences are increasingly influenced by total cost of ownership considerations and environmental impact, making it essential for manufacturers to demonstrate both the economic and ecological benefits of their products. This focus on sustainability and innovation positions companies as leaders in the bus industry.
Bus Market Leaders
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Ashok Leyland Limited
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Daimler Truck Holding AG
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King Long United Automotive Industry Co. Ltd.
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Tata Motors Limited
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Zhengzhou Yutong Bus Co. Ltd.
- *Disclaimer: Major Players sorted in no particular order
Bus Market News
- September 2023: Volvo Energy signed a letter of intent with Connected Energy with the aim to jointly develop a battery energy storage system (BESS).
- September 2023: Yutong announced that it had held a shipping ceremony for 87 apron buses exported from China to Saudi Arabia at the Yutong New Energy Plant. This was the largest batch of apron buses exported from China.
- September 2023: Daimler Trucks & Buses US, PACCAR, and Accelera by Cummins, the zero-emissions business unit of Cummins Inc., announced they are partnering to localize battery cell production in the United States.
Free With This Report
For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.
Bus Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 Population
- 4.1.1 Africa
- 4.1.2 Asia-Pacific
- 4.1.3 Europe
- 4.1.4 Middle East
- 4.1.5 North America
- 4.1.6 South America
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4.2 GDP Per Capita
- 4.2.1 Africa
- 4.2.2 Asia-Pacific
- 4.2.3 Europe
- 4.2.4 Middle East
- 4.2.5 North America
- 4.2.6 South America
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4.3 Consumer Spending For Vehicle Purchase (cvp)
- 4.3.1 Africa
- 4.3.2 Asia-Pacific
- 4.3.3 Europe
- 4.3.4 Middle East
- 4.3.5 North America
- 4.3.6 South America
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4.4 Inflation
- 4.4.1 Africa
- 4.4.2 Asia-Pacific
- 4.4.3 Europe
- 4.4.4 Middle East
- 4.4.5 North America
- 4.4.6 South America
- 4.5 Interest Rate For Auto Loans
- 4.6 Shared Rides
- 4.7 Shared Rides
- 4.8 Impact Of Electrification
- 4.9 EV Charging Station
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4.10 Battery Pack Price
- 4.10.1 Africa
- 4.10.2 Asia-Pacific
- 4.10.3 Europe
- 4.10.4 Middle East
- 4.10.5 North America
- 4.10.6 South America
- 4.11 New Xev Models Announced
- 4.12 Fuel Price
- 4.13 Oem-wise Production Statistics
- 4.14 Regulatory Framework
- 4.15 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Propulsion Type
- 5.1.1 Hybrid and Electric Vehicles
- 5.1.1.1 By Fuel Category
- 5.1.1.1.1 BEV
- 5.1.1.1.2 FCEV
- 5.1.1.1.3 HEV
- 5.1.1.1.4 PHEV
- 5.1.2 ICE
- 5.1.2.1 By Fuel Category
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5.2 Region
- 5.2.1 Africa
- 5.2.2 Asia-Pacific
- 5.2.2.1 India
- 5.2.2.2 Japan
- 5.2.3 Europe
- 5.2.3.1 Czech Republic
- 5.2.4 Middle East
- 5.2.5 North America
- 5.2.5.1 Canada
- 5.2.5.2 Mexico
- 5.2.5.3 US
- 5.2.6 South America
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 Anhui Ankai Automobile Co. Ltd.
- 6.4.2 Ashok Leyland Limited
- 6.4.3 Byd Auto Industry Company Limited
- 6.4.4 Daimler Truck Holding AG
- 6.4.5 King Long United Automotive Industry Co. Ltd.
- 6.4.6 NFI Group Inc.
- 6.4.7 Proterra INC.
- 6.4.8 Tata Motors Limited
- 6.4.9 Volvo Group
- 6.4.10 Zhengzhou Yutong Bus Co. Ltd.
- 6.4.11 Zhongtong Bus Holding Co. Ltd.
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- POPULATION TRENDS, VOLUME IN UNITS, AFRICA, 2017 - 2030
- Figure 2:
- POPULATION TRENDS, VOLUME IN UNITS, ASIA-PACIFIC, 2017 - 2030
- Figure 3:
- POPULATION TRENDS, VOLUME IN UNITS, EUROPE, 2017 - 2030
- Figure 4:
- POPULATION TRENDS, VOLUME IN UNITS, MIDDLE EAST, 2017 - 2030
- Figure 5:
- POPULATION TRENDS, VOLUME IN UNITS, NORTH AMERICA, 2017 - 2030
- Figure 6:
- POPULATION TRENDS, VOLUME IN UNITS, SOUTH AMERICA, 2017 - 2030
- Figure 7:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, AFRICA, 2017 - 2030
- Figure 8:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
- Figure 9:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, EUROPE, 2017 - 2030
- Figure 10:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, MIDDLE EAST, 2017 - 2030
- Figure 11:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, NORTH AMERICA, 2017 - 2030
- Figure 12:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 13:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, AFRICA, 2017 - 2030
- Figure 14:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
- Figure 15:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, EUROPE, 2017 - 2030
- Figure 16:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, MIDDLE EAST, 2017 - 2030
- Figure 17:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, NORTH AMERICA, 2017 - 2030
- Figure 18:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 19:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, AFRICA, 2017 - 2030
- Figure 20:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, ASIA-PACIFIC, 2017 - 2030
- Figure 21:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, EUROPE, 2017 - 2030
- Figure 22:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, MIDDLE EAST, 2017 - 2030
- Figure 23:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, NORTH AMERICA, 2017 - 2030
- Figure 24:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, SOUTH AMERICA, 2017 - 2030
- Figure 25:
- AUTO LOAN INTEREST RATES, PERCENTAGE, GLOBAL, 2017 - 2022
- Figure 26:
- ELECTRIC VEHICLE MARKET PENETRATION RATE, BY VEHICLE TYPE, PERCENTAGE OF VOLUME, GLOBAL, 2017 - 2030
- Figure 27:
- CHARGING STATION DEPLOYMENT, BY TYPE, VOLUME IN UNITS, GLOBAL, 2017 - 2022
- Figure 28:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, AFRICA, 2017 - 2030
- Figure 29:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
- Figure 30:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, EUROPE, 2017 - 2030
- Figure 31:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, MIDDLE EAST, 2017 - 2030
- Figure 32:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, NORTH AMERICA, 2017 - 2030
- Figure 33:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 34:
- ANNOUNCEMENT OF NEW XEV MODELS, BY VEHICLE TYPE, VOLUME IN UNITS, GLOBAL, 2023 - 2027
- Figure 35:
- FUEL PRICE, BY FUEL TYPE, USD/LITER, GLOBAL, 2017 - 2022
- Figure 36:
- GLOBAL BUS MARKET, VOLUME IN UNITS, 2017 - 2030
- Figure 37:
- GLOBAL BUS MARKET, VALUE IN USD, 2017 - 2030
- Figure 38:
- GLOBAL BUS MARKET, BY PROPULSION TYPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 39:
- GLOBAL BUS MARKET, BY PROPULSION TYPE, BY VALUE IN USD, 2017 - 2030
- Figure 40:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 41:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 42:
- GLOBAL BUS MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 43:
- GLOBAL BUS MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 44:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 45:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 46:
- GLOBAL BUS MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 47:
- GLOBAL BUS MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
- Figure 48:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 49:
- GLOBAL BUS MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 50:
- GLOBAL BUS MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
- Figure 51:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 52:
- GLOBAL BUS MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 53:
- GLOBAL BUS MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
- Figure 54:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 55:
- GLOBAL BUS MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 56:
- GLOBAL BUS MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
- Figure 57:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 58:
- GLOBAL BUS MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 59:
- GLOBAL BUS MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 60:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 61:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 62:
- GLOBAL BUS MARKET, BY REGION, BY VOLUME IN UNITS, 2017 - 2030
- Figure 63:
- GLOBAL BUS MARKET, BY REGION, BY VALUE IN USD, 2017 - 2030
- Figure 64:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 65:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 66:
- GLOBAL BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 67:
- GLOBAL BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 68:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 69:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 70:
- GLOBAL BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 71:
- GLOBAL BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 72:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 73:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 74:
- GLOBAL BUS MARKET, BY INDIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 75:
- GLOBAL BUS MARKET, BY INDIA, BY VALUE IN USD, 2017 - 2030
- Figure 76:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 77:
- GLOBAL BUS MARKET, BY JAPAN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 78:
- GLOBAL BUS MARKET, BY JAPAN, BY VALUE IN USD, 2017 - 2030
- Figure 79:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 80:
- GLOBAL BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 81:
- GLOBAL BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 82:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 83:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 84:
- GLOBAL BUS MARKET, BY CZECH REPUBLIC, BY VOLUME IN UNITS, 2017 - 2030
- Figure 85:
- GLOBAL BUS MARKET, BY CZECH REPUBLIC, BY VALUE IN USD, 2017 - 2030
- Figure 86:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 87:
- GLOBAL BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 88:
- GLOBAL BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 89:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 90:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 91:
- GLOBAL BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 92:
- GLOBAL BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 93:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 94:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 95:
- GLOBAL BUS MARKET, BY CANADA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 96:
- GLOBAL BUS MARKET, BY CANADA, BY VALUE IN USD, 2017 - 2030
- Figure 97:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 98:
- GLOBAL BUS MARKET, BY MEXICO, BY VOLUME IN UNITS, 2017 - 2030
- Figure 99:
- GLOBAL BUS MARKET, BY MEXICO, BY VALUE IN USD, 2017 - 2030
- Figure 100:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 101:
- GLOBAL BUS MARKET, BY US, BY VOLUME IN UNITS, 2017 - 2030
- Figure 102:
- GLOBAL BUS MARKET, BY US, BY VALUE IN USD, 2017 - 2030
- Figure 103:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 104:
- GLOBAL BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 105:
- GLOBAL BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 106:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 107:
- GLOBAL BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 108:
- GLOBAL BUS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
- Figure 109:
- GLOBAL BUS MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
- Figure 110:
- GLOBAL BUS MARKET SHARE(%), BY MAJOR PLAYERS
Bus Industry Segmentation
Hybrid and Electric Vehicles, ICE are covered as segments by Propulsion Type. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.Propulsion Type | Hybrid and Electric Vehicles | By Fuel Category | BEV |
FCEV | |||
HEV | |||
PHEV | |||
ICE | By Fuel Category | ||
Region | Africa | ||
Asia-Pacific | India | ||
Japan | |||
Europe | Czech Republic | ||
Middle East | |||
North America | Canada | ||
Mexico | |||
US | |||
South America |
Market Definition
- Vehicle Type - The category includes Medium and Heavy Duty Buses.
- Vehicle Body Type - This include Bus category.
- Fuel Category - The category includes various fuel types such as Gasoline, Diesel, LPG (Liquefied Petroleum Gas), CNG (Compressed Natural Gas), HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles)
Keyword | Definition |
---|---|
Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.