Market Insights Mobility Commercial Vehicles

Buses - United States

United States

In 2024, the projected unit sales in the Buses market are expected to reach 116.30k vehicles.
Looking ahead, the annual growth rate for unit sales (CAGR 2024-2029) is predicted to be -0.45%.
This growth rate will result in a projected market volume of 113.70k vehicles by 2029.
This indicates the potential for significant growth in the Buses market.
Furthermore, the production of Buses market is expected to reach 83.11k vehicles by 2029, further highlighting the market's potential for expansion.
From an international perspective, it is noteworthy that the majority of sales, specifically 116.30k vehicles units, will be the in the United States in 2024.
This demonstrates the in the United States' significant presence and influence in the Buses market.
The United States is experiencing a growing trend in the adoption of electric buses in the commercial vehicles market.

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Analyst Opinion

The Buses market in United States has been experiencing significant growth in recent years, driven by several key factors. Customer preferences in the Buses market in United States have been shifting towards more environmentally friendly and fuel-efficient vehicles.

This trend is largely driven by increasing awareness of the environmental impact of traditional gasoline-powered buses, as well as government regulations and incentives aimed at reducing emissions. As a result, there has been a growing demand for electric and hybrid buses, which offer lower operating costs and reduced carbon emissions. Another important customer preference in the Buses market in United States is for buses with advanced safety features.

With the increasing emphasis on passenger safety, there is a growing demand for buses equipped with technologies such as collision avoidance systems, lane departure warning systems, and advanced driver assistance systems. These features not only improve the safety of passengers but also help to reduce accidents and improve overall road safety. In addition to these customer preferences, there are several trends driving the growth of the Buses market in United States.

One such trend is the increasing adoption of autonomous technology in buses. Autonomous buses have the potential to improve efficiency, reduce operating costs, and enhance passenger experience. With advancements in technology and ongoing research and development, autonomous buses are expected to become more prevalent in the coming years.

Another trend in the Buses market in United States is the growing popularity of ride-sharing services. With the rise of companies like Uber and Lyft, there has been a shift in consumer behavior towards shared transportation. This trend has also extended to the bus industry, with the emergence of bus-sharing services that allow passengers to book seats on existing bus routes.

This not only helps to reduce congestion and improve efficiency but also provides a more convenient and cost-effective transportation option for passengers. Local special circumstances in the Buses market in United States include the country's vast geographical size and the need for efficient transportation solutions. With a large population and extensive road networks, there is a high demand for buses to provide transportation services across the country.

This has led to the development of various bus models and configurations to cater to different needs and requirements. Underlying macroeconomic factors, such as population growth, urbanization, and government policies, also play a significant role in the development of the Buses market in United States. As the population continues to grow and more people migrate to urban areas, the demand for public transportation, including buses, is expected to increase.

Government policies aimed at promoting sustainable transportation and reducing traffic congestion are also likely to drive the growth of the market. Overall, the Buses market in United States is experiencing growth due to shifting customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. With the increasing focus on sustainability, safety, and efficiency, the market is expected to continue to expand in the coming years.

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.