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Transit Bus Market Share

Report ID: GMI7238
Published Date: Oct 2023
Report Format: PDF

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Transit Bus Market Share

The major companies operating in the transit bus industry are:

AB Volvo
Apollo Baidu (Baidu, Inc.)
BYD Co. Ltd.
Daimler AG
Easymile
MAN Truck & Bus
Navya
New Flyer (NFI Group)
Toyota Motor Corporation
Yutong Group Co. Ltd.

AB Volvo, and NFI Group are the major companies operating in the market. These major companies are engaged in various inorganic growth strategies such as merger, acquisitions, partnerships and collaborate closely with governments to secure contracts and navigate regulations. They also invest in electric bus infrastructure, forging partnerships to develop charging stations, ensuring seamless adoption of eco-friendly technologies, and strengthening their market position.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of transit bus reached USD 431.3 billion in 2022 and is set to grow at 8.1% CAGR between 2023 and 2032, driven by the increasing number of people opting for bus travel.

The diesel fuel type segment held over 65% of the market share in 2022, due to advantages, such as established infrastructure, affordability, and operational efficiency.

Asia Pacific garnered over 65% of the market share in 2022, owing to the increasing environmental consciousness and efforts to reduce pollution.

Some of the prominent transit bus companies are AB Volvo, Apollo Baidu (Baidu, Inc.), BYD Co. Ltd., Daimler AG, Easymile, MAN Truck & Bus, Navya, New Flyer (NFI Group), Toyota Motor Corporation, and Yutong Group Co. Ltd.