Global School Bus Market, By Powertrain Type (ICE-Powered, and Electric), Type (Type A, Type B, Type C, and Type D) - Industry Trends and Forecast to 2031.
School Bus Market Analysis and Size
The school bus market is influenced by educational policies, population demographics, and safety regulations. Key providers such as First Student, National Express LLC, and Student Transportation Inc. adapt their services to meet evolving needs. Trends include the integration of GPS tracking systems for enhanced safety, eco-friendly vehicles to reduce emissions, and innovative seating designs for comfort and accessibility, ensuring efficient and reliable transportation for students.
Data Bridge Market Research projects that the global school bus market, which was valued at USD 1.29 billion in 2023, is expected to reach USD 1.76 billion by 2031, growing at a CAGR of 3.96% during the forecast period of 2024-2031. The “electric” dominate the by powertrain type segment of global school bus market due to their eco-friendly nature, reduced emissions, and lower operating costs compared to traditional diesel buses. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Powertrain Type (ICE-Powered, and Electric), Type (Type A, Type B, Type C, and Type D)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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ASHOK LEYLAND (India), Berkshire Hathaway Inc. (U.S.), Blue Bird Corporation. (U.S.), Daimler Truck AG (Germany), Eicher Motors Ltd. (India), Ford Motor Co. (U.S.), GreenPower Motor Co. Inc. (Canada), Higer Bus USA (U.S.), JCBLGroup (India), Mahindra and Mahindra Ltd. (India), Mercedes Benz Group AG (Germany), REV Group Inc. (U.S.), Scania AB (Sweden), SML Isuzu Ltd. (India), Tata Motors Ltd. (India), The Lion Electric Co. (Canada), Trans Tech Bus (U.S.), Traton SE (Germany), Van Con Inc. (U.S.), Yutong Bus Co., Ltd (China) among others
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Market Opportunities
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Market Definition
The school bus encompasses the production, sale, and distribution of buses specifically designed for transporting students to and from educational institutions. It includes various types of school buses, such as conventional, transit-style, and small buses, along with alternative fuel options and safety features tailored to meet regulatory standards.
Global School Bus Market Dynamics
Drivers
- Government Regulations and Safety Standards
Stringent government regulations regarding student transportation safety are driving the demand for advanced school bus features such as GPS tracking, seat belts, and electronic stability control systems. Compliance with these regulations ensures the safety of students during transit, leading to increased adoption of modern school buses globally.
- Growing Urbanization and Population Density
With rapid urbanization, there is a surge in the number of students commuting to schools located in densely populated urban areas. As a result, there is a heightened need for efficient and reliable school bus transportation services to cater to the increasing student population, boosting the demand for school buses worldwide.
Opportunities
- Technological Advancements to Enhance Safety
Innovations such as electric and hybrid school buses, onboard Wi-Fi connectivity, and real-time tracking systems offer opportunities for market growth. These advancements enhance safety, reduce environmental impact, and provide students with enhanced comfort and convenience, thereby driving the adoption of modern school bus solutions.
- Increasing Focus on Environmental Sustainability
Rising concerns regarding environmental pollution have led to a growing preference for eco-friendly transportation solutions. The shift towards electric and alternative fuel-powered school buses presents opportunities for market players to capitalize on the demand for sustainable transportation options and expand their product offerings.
- Expansion of School Transportation Networks in Emerging Markets
Emerging economies in Asia-Pacific and Latin America are witnessing rapid urbanization and infrastructure development, leading to the expansion of school transportation networks. This presents an opportunity for market players to penetrate new markets, invest in fleet expansion, and establish partnerships with educational institutions to provide efficient transportation services.
Restraints/Challenges
- Budgetary Constraints in Public Education Systems
Limited funding in public education systems, especially in developing regions, poses a challenge for the procurement of school buses. Budgetary constraints may hinder the adoption of modern school bus technologies and limit the ability of educational institutions to invest in fleet upgrades, impacting market growth to some extent.
- Driver Shortages and Recruitment Challenges
The shortage of qualified bus drivers and recruitment challenges pose a significant challenge for school bus operators worldwide. Recruiting and retaining skilled drivers is crucial for ensuring safe and reliable transportation services.
The global school bus market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global school bus market contact the Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In August 2022, the Government of India sanctioned a substantial budget of USD 10 billion to facilitate the procurement of 50,000 electric buses by the year 2030 as part of the Clean Energy Scheme Limited (CESL). In line with this progressive initiative, the Delhi Transport Corporation (DTC) has declared its commitment to introduce 8,000 electric buses into its fleet by the year 2025
Global School Bus Market Scope
Global school bus market is segmented based on powertrain type and type. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Powertrain Type
- ICE-powered
- Electric
Type
- Type A
- Type B
- Type C
- Type D
Global School Bus Market Region Analysis/Insights
Global school bus market is analyzed and market size insights and trends are provided by type, and by powertrain type referenced above.
The regions covered in global school bus market are North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. The countries covered in Global school bus market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa.
North America is poised to dominate the global school bus market due to a well-established infrastructure, stringent safety regulations, and high demand for student transportation services.
Asia-Pacific is anticipated to emerge as the fastest-growing region, driven by increasing urbanization, rising investments in education, and expanding school transportation networks.
The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and Global School Bus Market Share Analysis
Global school bus market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to global school bus market.
Some of the major players operating in global school bus market are:
- ASHOK LEYLAND (India)
- Berkshire Hathaway Inc. (U.S.)
- Blue Bird Corporation. (U.S.)
- Daimler Truck AG (Germany)
- Eicher Motors Ltd. (India)
- Ford Motor Co. (U.S.)
- GreenPower Motor Co. Inc. (Canada)
- Higer Bus USA (U.S.)
- JCBLGroup (India)
- Mahindra and Mahindra Ltd. (India)
- Mercedes Benz Group AG (Germany)
- REV Group Inc. (U.S.)
- Scania AB (Sweden)
- SML Isuzu Ltd. (India)
- Tata Motors Ltd. (India)
- The Lion Electric Co. (Canada)
- Trans Tech Bus (U.S.)
- Traton SE (Germany)
- Van Con Inc. (U.S.)
- Yutong Bus Co., Ltd (China)
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