U.S. Bus Market Overview
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. 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. 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.
U.S. Bus Market Size
Public transportation can advance traffic safety, active transportation, air quality, and accessibility. Along with personal health assistance. Public transportation makes use of less fuel and produces lower volatile organic compounds, carbon dioxide. Carbon monoxide per passenger mile as compared to private vehicles.
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.
U.S. Bus Market Share
Electric buses will grow at the highest rate of approximately 30%, in the years to come, regarding revenue. This is for the reason that the penetration of e- buses in the U.S. was about 2% of the total bus sales of the country in 2021. The share of e- buses in public fleets is steadily increasing. Additionally, numerous public transport agencies have signed contracts with e- bus manufacturers for obtaining electric buses.
The California bus market has the largest share of approximately 12%, in 2021, in the country. This is because an enormous population demands effectual transport systems. Furthermore, California is a hub of new e- bus programs. The California Air Resources Board, a subsidiary of the California EPA. Assistances the implementation of state-wide clean air standards by backing state-of-the-art emissions reduction projects. Like CARBS’ Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project. This in turn gives a boost to the U.S. bus market.
U.S. Bus Market Trends
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.