The U.S. bus market Will Reach about $11,238 Million by 2030
The U.S. bus market size stood at over $7,453 million in 2021. This will increase to about
$11,238 million by 2030, propelling at a growth rate of about 5% in the years to come. This can be credited to the quick urbanization and rising population, together with the cumulative government outlay on the upgradation of vehicles for public transport. Furthermore, the obtainability of local, state, and centralized funding and the large count of school buses help the market to grow.
The school buses had the largest share of revenue, approximately 55%, in the U.S. bus market in 2021, and will continue the same trend also in the near future. This is for the reason that these buses are the main form of mass transportation in the U.S. Nearly 480,000 school buses were on the roads in 2021 in the U.S., more than transit buses roughly 7 to 1. Additionally, the surging acceptance of e- buses for school helps the market growth in the U.S.
Accompanied by environmental assistance, it has considerably lesser crash rates and lesser severity of crashes than personal travel. Commuting by public transportation is a lot safer than commuting by personal vehicle. Furthermore, people can minimalize the chance of an accident by over 90% just by taking public transport compared to a car. These factors help in improving the growth of the U.S. bus market significantly.
8.1–10 m bus will be the largest category during the forecast period. This type of bus has better mileage and seating comfort than other kinds of buses. In addition, e- buses in this length make added sense for environmental protection than moderately smaller buses.
The buses with 30–50 seats have the largest share of revenue in the U.S. bus market, and they will record the highest growth rate of approximately 5.0%, in the years to come. This is due to the fact that these can carry more travelers, use a smaller amount of fuel, and are economically competitive.
Because of rapid urbanization and population, a growing number of school buses has boosted the demand for buses in the U.S.