Bus Market to Reach USD 134.22 Billion by 2034 | Explore Growth Opportunities in EV and Urban Transport Sectors

The latest market study published by Polaris Market Research titled Bus Market Size, Share, Trends, Industry Analysis Report By Length (6m, 6-8m, 8-10m, 10-12m, above 12m), By Fuel Type, By Seating Capacity, By Application, By Region – Market Forecast, 2025–2034 is designed to provide users with an in-depth understanding of the market.

A comprehensive historical analysis of the market is given, along with extensive market forecasts by region/country and subsectors. The primary objective of this report is to help readers gain insights into Bus Market size, trends, sales volume, revenue, historical growth, latest developments, and future outlooks. It offers a qualitative and quantitative analysis of leading participants, expansion plans, geographical regions, and share valuations across all regions.

Bus Market Size

The global bus market was valued at USD 93.55 billion in 2024 and is projected to grow at a CAGR of 3.7% to reach USD 134.22 billion by 2034. Growth is driven by urban expansion, rising urbanization, government initiatives supporting sustainable public transport, advances in EV technology, and increased tourism and intercity travel.

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Key Topics Covered

• Market size, share, and growth forecasts (2025–2034)
• Types of buses (electric, hybrid, diesel, others)
• Market drivers, challenges, and opportunities
• Regional analysis and country-level insights
• Government policies and regulations promoting public transport
• Technological advancements in electric and autonomous buses
• Market trends in urban mobility and intercity travel
• Competitive landscape and key players

Market Dynamic Factors

This report lists the various actors that have contributed to the market's upward trajectory. In-depth trends and opportunities in the Bus Market are highlighted in the analysis. The study report also enables customers to recognize opportunities and difficulties. The research goes on to identify the principal impediments to industry development. Based on the SWOT and Porter's Five Forces models, market dynamics are evaluated, covering the important demand and price variables.

Bus Market Segmentation Analysis

The study offers a thorough analysis of the numerous market segments, including application type, product component, service types, and several geographic locations. The report's segment analysis section contains thoroughly researched expert-verified industry data. Strategic recommendations are given in terms of key business segments based on market estimations.

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List of Major Key Players

• AB Volvo
• Anhui Ankai Automobile Co., Ltd
• Beiqi Foton Motor Co., Ltd.
• BYD Company Limited
• Daimler Truck Holding AG
• Ebusco
• Golden Dragon (Xiamen Golden Dragon Bus Co., Ltd.)
• Higer Bus Company Limited
• Iveco Group N.V.
• MAN Truck & Bus
• Renault Group
• Scania AB
• Shanghai Sunwin Bus Co., Ltd.
• Solaris Bus & Coach sp. z o.o.
• Sunlong Automobile
• TEMSA
• Xiamen King Long United Automotive Industry Co., Ltd.
• Yutong Bus Co., Ltd.
• Zhongtong Bus Holding Co., Ltd.

Leading Players Analysis

The research report's chapter is entirely devoted to the competition environment. The Bus market key players are examined, analyzing information on their evaluation and development in addition to a quick review of the company. Understanding the techniques employed by businesses and the steps they have recently taken to combat intense rivalry allows one to examine the competitive landscape. It covers each player's company profiles comprising sales, revenue, share, recent developments, SWOT analysis, capacity, production, revenue, gross margin, growth rate, and strategies employed by the major market players.

Different potentials in the domestic and regional markets are revealed by regional analysis of the sector. Each regional industry associated with this market is carefully examined to determine its potential for growth in the present and the future. Moreover, information on recent mergers and acquisitions that have taken place in the market is the subject of the research. This section provides important financial information about mergers and acquisitions that have recently shaped the Bus industry.

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Regional Analysis

Further, the report goes on to discuss how the Bus Market has grown internationally and across various sectors and regions. The regional analysis included in the study provides information at the regional as well as national level by several market segments. Additionally, the study includes information on the origins of raw materials, downstream consumers, and industrial chain analyses. The forecast analysis section includes vital information on global production and revenue projection, as well as regional forecasts.

Report Summary

The analysis focuses on the regional forecast by type and application and the Bus market sales and revenue prediction. The research report features data about the target market, such as pricing trends, customer requirements, and competitor analysis. The market growth has been examined using analytical approaches like PESTLE analysis, Porter's Five Forces analysis, feasibility studies, player-specific SWOT analyses, and ROI analyses.

The Report Provides You Answer to Below Mentioned Question

What are the bus market statistics?

Ans: The global bus market was valued at USD 93.55 billion in 2024 and is projected to reach USD 134.22 billion by 2034.

What is the growth rate of the bus market value?

Ans: The market is expected to grow at a CAGR of 3.7% during the forecast period.

Which region dominated the global market share in 2024?

Ans: Asia Pacific led the market with a 48.58% share in 2024.

Who are the key players in the market?

Ans: Key players include AB Volvo, Anhui Ankai Automobile, Beiqi Foton Motor, BYD, Daimler Truck, Ebusco, Golden Dragon, Higer Bus, Iveco Group, MAN Truck & Bus, Renault Group, Scania AB, Shanghai Sunwin Bus, Solaris Bus & Coach, Sunlong Automobile, TEMSA, Xiamen King Long, Yutong Bus, and Zhongtong Bus.

Which segment, by length, dominated the bus market revenue share in 2024?

Ans: The below 6m segment held the largest revenue share at 34.93% in 2024.

Which segment, by fuel type, is expected to witness the fastest growth?

Ans: The electric bus segment is projected to grow the fastest with a CAGR of 11.1% during the forecast period.

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