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School Bus Market Trends

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

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School Bus Market Trends

The school bus industry is witnessing notable trends driven by increasing investments from the Environmental Protection Agency (EPA) in environmentally friendly school buses. With a growing emphasis on reducing emissions and improving air quality, the EPA's funding for eco-friendly school buses has spurred a shift towards cleaner technologies. Electric and alternative fuel-powered buses are becoming more prevalent as school districts seek to minimize their environmental impact. These buses offer reduced emissions, lower fuel costs, and quieter operation than traditional diesel buses. Moreover, the EPA's investments have prompted innovation in the school bus industry, leading to the development of more efficient and sustainable transportation solutions. As a result, the school bus market is experiencing a noticeable trend toward greener and more environmentally friendly school buses.

For instance, in April 2024, the US Environmental Protection Agency (EPA) revealed plans to allocate close to USD 1 billion in grants aimed at replacing gas-powered heavy-duty vehicles and school buses with electric counterparts. The funding will cover the development of charging infrastructure as well as workforce development and training initiatives.

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.