North America Bus Market Navigating Share, Overview, and Forecast Analysis with Growth Insights

In 2022, the North America Bus Market recorded 159.46 thousand units and is forecasted to grow at a 4.07% CAGR from 2024 to 2028.

According to TechSci Research report, “North America Bus Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the North America Bus Market stood at 159.46 Thousand Units in 2022 and is anticipated to grow with a CAGR of 4.07% in the forecast period, 2024-2028.

The North American bus market is experiencing significant growth due to a confluence of factors that are reshaping the transportation landscape. This expansion is driven by various technological, environmental, and economic forces that are fundamentally transforming how people and goods move within the region.

One of the key drivers behind the growth of the North American bus market is the increasing emphasis on sustainability and environmental concerns.

As the world grapples with the consequences of climate change, there is a growing urgency to transition to cleaner modes of transportation. Buses, especially electric and hybrid models, are being embraced as a viable solution to reduce emissions and combat air pollution in urban areas. Governments and regulatory bodies are setting stricter emissions standards, prompting transit agencies and operators to shift towards more environmentally friendly options.

Furthermore, the push towards sustainability is bolstered by advancements in battery and charging technologies. Electric buses are becoming more practical and cost-effective, with improved battery ranges and faster charging capabilities. As the charging infrastructure expands, the operational feasibility of electric buses increases, incentivizing their adoption. These technological advancements not only contribute to a cleaner environment but also enhance the overall efficiency and attractiveness of bus services.

Economic considerations also play a pivotal role in the market’s growth. Buses, particularly diesel-powered ones, continue to be a cost-effective mode of transportation. With the ability to carry a large number of passengers at once, buses offer economies of scale that make them financially viable for both transit agencies and passengers. Additionally, as fuel costs continue to fluctuate, the relative stability of electricity as a power source for electric buses provides a strategic advantage in budget planning.

Urbanization and population growth are driving the demand for improved public transportation networks. Cities are becoming more densely populated, resulting in increased traffic congestion and longer commuting times. Buses offer a practical solution to address these challenges, as they can efficiently transport a large number of passengers, reducing the number of private vehicles on the road. Efficient public transportation systems can alleviate congestion, decrease travel times, and enhance the overall quality of life for urban residents.

The COVID-19 pandemic has also influenced the market’s growth trajectory. While the initial impact led to decreased ridership due to safety concerns, the pandemic underscored the importance of resilient and adaptable public transportation systems. Buses were able to quickly pivot to serve essential workers and provide a safe mode of travel for those who needed it.

This experience highlighted the need for efficient, flexible, and well-equipped bus services that can withstand unforeseen disruptions. Government support and incentives have been instrumental in driving the adoption of new bus technologies. Subsidies, grants, and funding programs provided by federal, state, and local governments encourage transit agencies and operators to invest in electric and hybrid buses. Initiatives to electrify school bus fleets, modernize transit systems, and reduce emissions align with broader policy goals related to environmental protection and sustainable development.

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The push for cleaner and more sustainable transportation has led to a surge in the adoption of electric and hybrid buses. As concerns about air quality and emissions intensify, transit agencies and operators are transitioning from traditional diesel buses to electric and alternative fuel options. Electric buses offer reduced emissions, lower operating costs over the long term, and the potential for integrating renewable energy sources. Advancements in connectivity and digital technology are being integrated into buses, creating “smart” vehicles. These buses are equipped with features such as real-time passenger information, Wi-Fi, GPS tracking, and contactless payment systems, enhancing the overall passenger experience and making public transportation more convenient and accessible.

While still in the testing and development phase, autonomous or self-driving buses are being explored as a potential future trend.

These buses could offer benefits such as increased safety, reduced traffic congestion, and improved transportation efficiency.

However, regulatory challenges and the need for advanced infrastructure remain hurdles to widespread adoption. The concept of Mobility as a Service is gaining traction, offering integrated transportation solutions that combine various modes of transit, including buses, trains, ride-sharing, and more. MaaS platforms aim to simplify travel planning, ticketing, and payment processes, providing users with seamless and flexible mobility options.

The emphasis on inclusivity and accessibility is driving the design of buses with features catering to passengers with disabilities. Low-floor buses, ramps, automated announcements, and tactile indicators are being incorporated to ensure that public transportation is available to everyone. Transit agencies are leveraging data analytics to optimize routes, schedules, and maintenance processes. By analyzing passenger flow, congestion patterns, and other data points, operators can enhance operational efficiency, reduce costs, and improve service reliability.

The growth of electric buses necessitates the development of robust charging infrastructure. Charging stations are being deployed along bus routes, at depots, and in urban centers to support the widespread adoption of electric buses. Collaboration between public and private entities is becoming more common in the bus market. Private companies are partnering with public transit agencies to provide innovative solutions, such as implementing electric bus fleets or introducing on-demand microtransit services to complement traditional fixed routes.

Major companies operating in North America Bus Market are:

Mercedes-Benz AG (Daimler AG)
IVECO S.p.A.
MAN Truck & Bus SE
Scania AB
AB Volvo
BYD CO. Ltd.
Lion Electric Company
NFI Group Inc.
Proterra Inc.
Gilling LLC

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“The electric bus market is growing in North America due to increasing environmental concerns and a push for sustainable transportation. Government incentives, stricter emissions regulations, and advancements in battery technology are driving the adoption of electric buses. These buses offer lower operational costs, reduced emissions, and improved air quality, making them an attractive option for transit agencies and operators looking to modernize their fleets and contribute to cleaner urban environments.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“North America Bus Market, By Bus Type (Intercity Bus and Intracity Bus), By Length (6-8m, 8-10m, 10-12m, Above 12m), By Fuel Type (Diesel, Petrol/Gasoline, Alternative Fuel, Electric, Hybrid and Fuel Cell), By Country, Competition, Forecast and Opportunities, 2028F”, has evaluated the future growth potential of North America 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 North America Bus Market.

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Table of Content-North America Bus Market

Introduction

1.1. Product Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

Research Methodology

2.1. Objective of theStudy

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Countries

3.4. Key Segments

Impact of COVID-19 on North America Bus Market
Voice of Customer Analysis

5.1. Brand Awareness

5.2. Factors Influencing Purchase Decision

5.3. Brand Satisfaction

North America Bus Market Outlook

6.1. Market Size & Forecast

6.1.1. By Volume

6.1.2. By Value

6.2. Market Share & Forecast

6.2.1. By Application Market Share Analysis (Transit Buses, Motor Coaches, School Buses, others)

6.2.2. By Length Market Share Analysis (6-8m, 8-10m, 10-12m, & above 12m)

6.2.3. By Seating Capacity Market Share Analysis (15-30, 30-40, 40-50, & above 50)

6.2.4. By Fuel Type Market Share Analysis (Diesel, Petrol, CNG, Others)

6.2.5. By Body Type Market Share Analysis (Fully Built, Customizable)

6.2.6. By Country Market Share Analysis

6.2.6.1. United States Bus Market Share Analysis

6.2.6.2. Canada Bus Market Share Analysis

6.2.6.3. Mexico Bus Market Share Analysis

6.2.7. By Company Market Share Analysis (Top 5 Companies, Others – By Value, 2022)