Market Size of North America School Bus Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.41 Billion |
| Market Size (2029) | USD 3.04 Billion |
| CAGR (2024 - 2029) | > 4.74 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America School Bus Market Analysis
The North America School Bus Market size is estimated at USD 2.41 billion in 2024, and is expected to reach USD 3.04 billion by 2029, growing at a CAGR of greater than 4.74% during the forecast period (2024-2029).
Over the long term, strict emission standards have increased the demand for alternative fuel-powered vehicles. The commercial vehicle segment's adoption of electric vehicles has influenced the school bus segment, which is expected to drive the North American school bus market during the forecast period. Various advantages of school buses, such as rollover protection, protective seating, etc., over other modes of transport, are also among the reasons that may help the growth of the market. Moreover, along with the major players, many schools in the North American region are also trying to replace their gasoline fleet with a fully or hybrid electric fleet. For instance,
In October 2022, Montgomery County Public Schools, one of the largest school districts in the United States, deployed the country's single-largest electric school bus fleet. During the previous school year, the district received its first 25 electric buses and installed electric infrastructure at one of its transportation depots. Montgomery County Public Schools (MCPS) plans to replace 326 diesel school buses with electric buses by 2025, and it hopes to have an entirely electric school bus fleet in 10 years.
School buses in North America are purpose-built vehicles distinguished from other types of buses by design features mandated by federal and state/provincial regulations. School buses, in addition to their distinctive paint color (school bus yellow), are outfitted with exterior warning lights to give them traffic priority and a variety of safety devices. School transportation is well-organized and has existed for many decades in major North American countries. As a result, demand has been stable in recent years and is expected to remain so during the forecast period.
