Market Insights Mobility Commercial Vehicles

Buses - North America

North America

In 2024, the Buses market in North America is projected to reach a total of 145.30k vehicles units in unit sales.
Looking ahead, it is expected to exhibit a compound annual rate of 2.10% from 2024 to 2030, resulting in a projected market volume of 164.60k vehicles units by 2030.
This growth reflects the potential for expansion in the production of Buses market, which is estimated to reach 135.80k vehicles units in 2030.
When considering the international market, it is noteworthy that a significant portion of these sales, specifically 164.60k vehicles units, is expected to be the in China in 2024.
This highlights the prominence of the United States within the Buses market.
In North America, the trend in the commercial vehicles market is a growing demand for electric buses as a sustainable and eco-friendly transportation solution.

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Analyst Opinion

The Buses market in North America is experiencing significant growth and development.

Customer preferences: Customers in North America are increasingly prioritizing eco-friendly and sustainable transportation options. As a result, there is a growing demand for electric and hybrid buses in the region. These buses offer lower emissions and reduced fuel consumption, aligning with the environmental goals of both individuals and governments. Additionally, customers are also looking for buses that provide enhanced safety features, comfortable seating, and advanced technology options.

Trends in the market: One of the major trends in the North American Buses market is the adoption of electric buses. Governments and transit agencies are investing in electric bus fleets as part of their efforts to reduce greenhouse gas emissions and improve air quality. The advancements in battery technology and the availability of charging infrastructure have made electric buses a viable option for public transportation. This trend is expected to continue as more cities and regions commit to transitioning to electric buses. Another trend in the market is the integration of advanced technology in buses. Customers are increasingly demanding buses with features such as onboard Wi-Fi, USB charging ports, and entertainment systems. These technological advancements not only enhance the passenger experience but also improve the efficiency and connectivity of the buses. Transit agencies are also utilizing data analytics and real-time tracking systems to optimize routes, improve scheduling, and provide better services to their customers.

Local special circumstances: The North American Buses market is influenced by various local factors. One of the key factors is the presence of a well-developed public transportation infrastructure in many cities. This infrastructure provides a strong foundation for the growth of the buses market as there is an existing demand for public transportation services. Additionally, government policies and incentives play a crucial role in promoting the adoption of electric buses and supporting the growth of the market.

Underlying macroeconomic factors: The growth of the North American Buses market is also supported by favorable macroeconomic factors. The region has a stable economy and a growing population, which increases the demand for public transportation. Moreover, governments in the region are investing in infrastructure development, including the expansion and improvement of public transportation systems. These investments create opportunities for bus manufacturers and suppliers to cater to the growing demand. In conclusion, the Buses market in North America is witnessing growth and development driven by customer preferences for eco-friendly and technologically advanced buses. The adoption of electric buses and the integration of advanced technology are key trends in the market. The presence of a well-developed public transportation infrastructure, government policies, and favorable macroeconomic factors further contribute to the growth of the market.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of buses.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.