Top 25 Companies in Bus Market (2025–2035): Spherical Insights Analysis
RELEASE DATE: Sep 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Bus Market Size is projected to Grow from USD 51.27 Billion in 2024 to USD 116.99 Billion by 2035, at a CAGR of 7.79% during the forecast period 2025–2035. The global bus market is driven by several factors, including rising urbanization and population growth, a shift towards sustainable mobility, and technological advancements.
Introduction
The Global Bus Market Size encompasses the industry involved in designing, manufacturing, and operating buses that serve urban, intercity, and long-distance travel needs, providing an essential mode of affordable, safe, and efficient transportation. Buses remain a cornerstone of public mobility systems, helping reduce traffic congestion, minimize emissions, and improve accessibility in growing urban areas. The market is undergoing rapid transformation with a strong shift toward sustainable mobility, supported by government policies, emission regulations, and investments in cleaner technologies. Electric, hybrid, and hydrogen-powered buses are gaining popularity, with the hydrogen bus industry developing as a potential sector due to their quick recharging, long range, and zero-emissions features. At the same time, advancements like artificial intelligence, smart fleet management, and real-time tracking improve operational efficiency and commuter experience. Rising urbanization, integration of buses into mobility-as-a-service platforms, and rising passenger expectations for comfort and safety are all driving up demand. With continuous developments in energy efficiency, charging infrastructure, and passenger-centric features, the global bus industry is poised for a considerable rise in the future years.
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Bus Market Size & Statistics
- The Market Size for Bus Was Estimated to be worth USD 51.27 Billion in 2024.
- The Market Size is Going to Expand at a CAGR of 7.79% between 2025 and 2035.
- The Global Bus Market Size is anticipated to reach USD 116.99 Billion by 2035.
- Asia Pacific is expected to generate the highest demand during the forecast period in the Bus Market
- North America is expected to grow rapidly during the forecast period in the Bus Market.
Regional growth and demand
North America is expected to grow rapidly during the forecast period in the bus market. North America is expected to grow rapidly in the bus market due to strong government funding for clean transportation, rapid adoption of electric and autonomous buses, expanding charging infrastructure, urbanization, and rising demand for sustainable, efficient, and connected mobility solutions.
Asia Pacific is expected to generate the highest demand during the forecast period in the bus market. Asia Pacific is expected to generate the highest demand in the bus market due to its large and growing population, rapid urbanization, government investments in public transport infrastructure, and increasing adoption of electric and alternative fuel buses for sustainable mobility.
Top 10 Trends in the Bus Market
- Electric and Alternative Fuel Buses
- Autonomous Buses
- Smart Technologies
- Passenger Comfort and Safety
- Mobility as a Service (MaaS)
- Lightweight Materials
- Regulatory Compliance
- Urbanization and Public Transit
- Customization
- Strategic Partnerships
1. Electric and Alternative Fuel Buses
Growing environmental concerns and increased pollution restrictions are propelling the transition from diesel to electric, hybrid, and hydrogen-powered buses. These approaches cut greenhouse gas emissions, lower operational costs, and are consistent with global carbon neutrality aspirations.
2. Autonomous Buses
The integration of self-driving technology, driven by sensors, AI, and real-time data, allows buses to run more safely and efficiently. Autonomous buses eliminate human error, enhance traffic flow, and contribute to the goal of smart, sustainable cities.
3. Smart Technologies
IoT connection, AI-powered fleet management, predictive maintenance, and real-time tracking technologies are revolutionizing bus operations. These technologies improve route planning, increase operating efficiency, and give commuters more accurate trip information.
4. Passenger Comfort and Safety
Rising commuter expectations are driving manufacturers to upgrade interiors with ergonomic seats, air conditioning, Wi-Fi, and multimedia systems, as well as safety technologies like automated braking, lane departure warning, and adaptive cruise control, to increase passenger happiness and trust.
5. Mobility as a Service (MaaS)
The increasing integration of buses into MaaS systems makes multimodal travel easier by merging routes, timetables, and payments on digital platforms. This trend increases accessibility, convenience, and encourages more people to utilize buses as part of their daily commute.
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Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the bus market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 24 Companies Leading the Bus Market
- Tata Motors Limited
- Anhui Ankai Automobile Co. Ltd
- BYD Company Limited
- Alexander Dennis
- King Long United Automotive Industry Co. Ltd.
- Yutong Bus Co., Ltd.
- Zhongtong Bus Holding Co. Ltd
- NFI Group Inc.
- AB Volvo
- Solaris Bus
- Daimler Truck Holding AG
- Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd
- Mercedes-Benz Group AG
- New Flyer Industries
- Mahindra & Mahindra
- Proterra
- VDL Bus & Coach
- JBM Group
- Otokar
- Temsa
- Traton Group (Volkswagen AG)
- SML ISUZU Ltd.
- Ebusco
- Irizar Group
1. Tata Motors Limited
Headquarters: Mumbai, Maharashtra, India
Tata Motors, located in Mumbai, India, is a major manufacturer of commercial vehicles, including a wide variety of buses. The firm is aggressively promoting electric mobility, with a major focus on providing sustainable and environmentally friendly bus solutions. Tata Motors has a substantial global footprint, operating in over 175 markets and with more than 9,400 contact points. Its size and competence in commercial vehicles allow it to implement cutting-edge electric bus technology, facilitate large-scale fleet electrification, and actively participate in government clean transportation contracts. Additionally, expansion initiatives, such as the proposed Iveco purchase, indicate the company's worldwide growth ambitions.
2. Anhui Ankai Automobile Co., Ltd.
Headquarters: Hefei, Anhui Province, China
Ankai is headquartered in Hefei, China, and manufactures a broad range of buses, including electric and alternative fuel versions. The firm has been actively growing its worldwide footprint by selling buses to more than 80 nations and regions. Notably, Ankai has supplied over 10,000 buses to Saudi Arabia, creating a significant footprint in the Middle East. Their dedication to intelligent mobility solutions and sustainable transportation corresponds with the industry's trend toward environmentally friendly and smart bus technology.
3. BYD COMPANY LIMITED
Headquarters: Shenzhen, Guangdong, China
BYD was founded in 1995 and is based in Shenzhen, China. It is a major technological corporation with over 30 industrial parks on six continents. In Europe, the business has supplied over 1,800 electric buses, which are now functioning in more than 100 major cities across 20 nations. BYD's large worldwide footprint and dedication to zero-emission solutions make it a major participant in the electric bus industry.
4. Alexander Dennis
Headquarters: Larbert, Scotland, United Kingdom
Alexander Dennis, headquartered in Larbert, Scotland, is a well-known manufacturer of electric buses, notably the Enviro200EV, Enviro400EV, and Enviro500EV types. The firm operates in several nations, including the United Kingdom, Ireland, Hong Kong, and Canada, and has supplied electric buses to a variety of foreign markets. Alexander Dennis's concentration on zero-emission cars and smart technology positions it as a vital contributor to the worldwide shift toward sustainable public transportation.
5. King Long United Automotive Industry Co., Ltd.
Headquarters: Xiamen, Fujian Province, China
King Long, based in Xiamen, China, offers a wide range of buses, including electric, hybrid, and plug-in hybrid types. The firm has a considerable global presence, with buses exported to over 140 countries and regions. King Long's dedication to new energy vehicles and intelligent mobility solutions coincides with the global demand for sustainable and smart public transit choices.
Are you ready to discover more about the bus market?
The report provides an in-depth analysis of the leading companies operating in the global bus market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Tata Motors Limited
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Anhui Ankai Automobile Co., Ltd.
- BYD COMPANY LIMITED
- Alexander Dennis
- King Long United Automotive Industry Co., Ltd.
- Yutong Bus Co., Ltd.
- Zhongtong Bus Holding Co. Ltd
- NFI Group Inc.
- AB Volvo
- Others.
Conclusion
The global bus market is poised for significant growth, driven by increasing urbanization, environmental concerns, and the rising demand for efficient, affordable, and sustainable public transportation. The shift toward electric, hybrid, and hydrogen-powered buses, coupled with advancements in smart technologies, autonomous systems, and passenger-centric features, is transforming the industry. Integration with mobility-as-a-service platforms and government initiatives promoting low-emission transport further accelerates adoption. Leading manufacturers such as Tata Motors, Ankai, BYD, Alexander Dennis, and King Long are expanding their global footprint, investing in innovation, and delivering cleaner, safer, and more comfortable buses. Overall, the market is moving toward a greener, technologically advanced, and passenger-focused future.
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