Bus Market Size Worth USD 134.22 Billion by 2034 | CAGR: 3.7%

The bus market size is expected to reach USD 134.22 billion by 2034, according to a new study by Polaris Market Research. The report “Bus Market Share, Size, Trends, Industry Analysis Report By Length (6m, 6-8m, 8-10m, 10-12m, above 12m), By Fuel Type, By Seating Capacity, By Application, By Region; Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A bus is evolving rapidly in response to global mobility needs. The accelerating shift toward electrification drives the bus market, as sustainability goals and environmental concerns push operators to adopt electric and hybrid fleets. This trend is further supported by technological advancements in battery performance, charging infrastructure, and overall operational efficiency, making clean-energy buses more viable than ever. The adoption of electrification addresses emission reduction targets and also positions buses as a central pillar of sustainable public transport systems worldwide.

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The rising demand for enhanced passenger experience and comfort further drives the bus market growth. Operators are increasingly focusing on deploying modern buses equipped with advanced safety systems, ergonomic seating, digital ticketing, and real-time tracking solutions to improve service quality. This trend is driven by changing commuter expectations, as passengers now seek convenient, safe, and technology-enabled mobility solutions. The market is transitioning from being a traditional mode of transport to a smarter, more efficient, and user-focused mobility solution that caters to the evolving dynamics of global transportation by integrating innovation with customer-centric services.

Top of FormBus Market Report Highlights

• In terms of length, the 6-meter segment accounted for 34.93% of revenue in 2024 as it is well-suited for navigating busy city streets and providing efficient last-mile connectivity.
• Based on fuel type, the electric segment is expected to grow the fastest, with an 11.1% CAGR during the forecast period, fueled by the global push toward cleaner and more sustainable transportation options.
• North America held a significant share of the bus market in 2024, supported by its well-developed transportation infrastructure and widespread adoption of advanced mobility solutions.
• Asia Pacific captured 48.58% of the global market in 2024, driven by rapid urbanization, growing populations, and increasing reliance on public transportation.
• A few global key market players include AB Volvo; Anhui Ankai Automobile Co., Ltd; Beiqi Foton Motor Co., Ltd.; BYD Company Limited; Daimler Truck Holding AG; Ebusco; Golden Dragon (Xiamen Golden Dragon Bus Co., Ltd.); Higer Bus Company Limited; Iveco Group N.V.; MAN Truck & Bus; Renault Group; Scania AB; Shanghai Sunwin Bus Co., Ltd.; Solaris Bus & Coach sp. z o.o.; Sunlong Automobile; TEMSA; Xiamen King Long United Automotive Industry Co., Ltd.; Yutong Bus Co., Ltd.; and Zhongtong Bus Holding Co., Ltd.

Polaris Market Research has segmented the market report on the basis of length, fuel type, seating capacity, application, and region:

By Length Outlook (Revenue, USD Billion, 2020–2034)

• Below 6m
• 6-8m
• 8-10m
• 10-12m
• Above 12m

By Fuel Type Outlook (Revenue, USD Billion, 2020–2034)

• Diesel
• Electric
• Hybrid
• Alternative Fuel

By Seating Capacity Outlook (Revenue, USD Billion, 2020–2034)

• Below 15
• 15 to 30
• 31 to 50
• Above 50

By Application Outlook (Revenue, USD Billion, 2020–2034)

• Transit Bus
• Intercity/Motor coaches
• School Bus
• Tourist Bus
• Staff Pickup/Hotel Shuttle
• Others

By Regional Outlook (Revenue, USD Billion, 2020–2034)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Vietnam
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa