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School Bus Market Analysis

  • Report ID: GMI9335
  • Published Date: May 2024
  • Report Format: PDF

School Bus Market Analysis

Based on the propulsion, the market is categorized into diesel, hybrid, and electric. The diesel segment held a market share of over 85% in 2023. Diesel-powered buses offer robust performance, making them suitable for transporting students across various terrains and weather conditions. Despite concerns about emissions, modern diesel engines have become cleaner and more fuel-efficient, meeting stringent environmental regulations. Moreover, diesel buses often have lower upfront costs than alternative fuel options, making them an economically attractive choice for many school districts. However, with the growing emphasis on environmental sustainability, there is an increasing shift towards alternative fuels and electric propulsion in the market.

School Bus Market Share, By Class, 2023

Based on the class, the market is categorized into type A, type B, type C, and type D. The type C segment held a market share of 54% in 2023. Type C buses, known for their versatility and maneuverability, are popular choices for transporting students in suburban and rural areas. With their smaller size and better maneuverability, Class C buses navigate narrow streets and tight corners with ease, ensuring safe transportation for students. Additionally, Class C buses typically have lower upfront costs than larger buses, making them financially appealing for school districts with budget constraints. As a result, the demand for type C buses continues to grow as school districts prioritize safety, efficiency, and affordability in student transportation solutions.

North America School Bus Market Size, 2022 -2032, (USD Billion)

North America dominated the global market with a major share of over 35% in 2023. In U.S., the school bus market is experiencing strong demand driven by several factors. As school districts expand and upgrade their fleets to meet growing student populations, there's a consistent need for new buses. Additionally, government regulations emphasizing student safety and environmental concerns are prompting districts to replace older buses with newer, safer, and more fuel-efficient models. Moreover, the increasing importance of reliable and safe transportation services for students in both urban and rural areas fuel this demand.

Rapid urbanization and population growth in countries like China, India, and Southeast Asian economies have led to increased investments in education infrastructure, driving the need for efficient student transportation. Moreover, rising disposable incomes in emerging economies are enabling more families to afford private education, further boosting the demand for school buses. Additionally, governments' focus on enhancing safety standards in student transportation is fueling the adoption of modern buses equipped with advanced safety features. As a result, the school bus industry in the Asia Pacific region is experiencing robust growth and expanding opportunities for manufacturers and suppliers.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Industry size for school bus was worth USD 10.8 billion in 2023 and is projected to expand at over 6% CAGR from 2024 to 2032, due to the increasing focus on student safety, government regulations, and investments in transportation infrastructure for education.

The diesel propulsion segment in the school bus industry held over 85% share and is estimated to depict substantial growth between 2024 and 2032, owing to their robust performance and suitability for transporting students across various terrains and weather conditions.

North America industry accounted for over 35% revenue share in 2023 and is projected to expand at significant rate between 2024 and 2032, on account of the increasing number of student population and the rising need to upgrade the school vehicle fleet.

Blue Bird Corporation, Carpenter Bus Sales, Collins Bus Corporation, Forest River, Gillig LLC, Girardin Minibus, IC Bus (Navistar), Lion Electric Co., Micro Bird Inc., and Proterra Inc. are some of the leading school bus companies worldwide.

School Bus Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 300
  • Countries covered: 29
  • Pages: 250
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