United States School Bus Market Size, Share, and COVID-19 Impact Analysis, By Power-Train Type (IC Engine, Electric, Hybrid), By Capacity Design (Type A, Type B, Type C, Type D), and United States School Bus Market Insights Forecasts to 2033

Industry: Automotive & Transportation

RELEASE DATE Dec 2023
REPORT ID SI3324
PAGES 200
REPORT FORMAT PathSoft

United States School Bus Market Insights Forecasts to 2033

  • The United States School Bus Market Size was valued at USD 4.32 Billion in 2023.
  • The Market Size is Growing at a CAGR of 4.28% from 2023 to 2033.
  • The United States School Bus Market Size is Expected to Reach USD 6.57 Billion by 2033.

 

United States School Bus Market

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The United States School Bus Market Size is Expected to Reach USD 6.57 Billion by 2033, at a CAGR of 4.28% during the forecast period 2023 to 2033.

 

Market Overview

A school bus is a vehicle developed specifically to transport students to and from school. Typically, it is painted with contrasting colors to indicate its function, has a big capacity, and safety measures. Millions of school-age children throughout the world depend on school buses as a convenient and dependable form of transportation, making them an essential part of the educational system. With the increased emphasis on developing sustainable transportation solutions and lowering carbon emissions, improvements in electric and hybrid school buses are anticipated in the market. The school bus industry is expected to see a rise in the use of electric and hybrid technologies as they become more reasonably priced and effective, which will support market expansion. Furthermore, the market is expanding as a result of factors such growing urbanization and population, more government measures for safe student mobility, and rising awareness of the value of education. The market is expanding due to developments in bus technologies, such as the incorporation of onboard cameras, GPS tracking systems, and other safety measures. Moreover, the recent advancements in lithium-ion batteries, which have dramatically improved energy density, charging speed, and overall reliability, are positively influencing the school bus market growth.

 

Report Coverage

This research report categorizes the market for United States school bus market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States school bus market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the United States school bus market.

 

United States School Bus Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 4.32 Billion
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:4.28%
2033 Value Projection:USD 6.57 Billion
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Power-Train Type, By Capacity Design and COVID-19 Impact Analysis.
Companies Covered:Thomas Built Buses Inc., Collins Bus Corporation, Lion Electric Company, Blue Bird Corporation, Tata Motors, Yutong Buses Co. Ltd, Anhui Ankai Automobile, JCBL Limited, IC Bus (Navistar International Corporation) And Other Key Vendors.
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Driving Factors

The market for school buses is expanding as more students enroll in classes. The increasing number of people on the planet, particularly in Noth America, results in higher rates of school attendance, which calls for the construction of additional educational institutions and associated infrastructure like transportation. International schools in developing cities like United States are also seeing an increase in enrollment. In addition, the United States and Canada top the world in terms of educational infrastructure.  As a result, during the projected period, these elements are anticipated to propel market expansion in United States.

 

Restraining Factors

Fluctuations in fuel prices impact the operational expenses of bus operators. Higher fuel costs strain profit margins, making it difficult to maintain affordable fares and invest in technologies.

 

Market Segment

  • In 2023, the IC engine segment accounted for the largest revenue share over the forecast period.

Based on the power-train type, the United States school bus market is segmented into IC engine, electric, hybrid. Among these, the IC engine segment has the largest revenue share over the forecast period. School buses that use alternative fuels (other than diesel and gasoline) such as compressed natural gas (CNG) and propane were evaluated in this sector. These fuels share an identical drivetrain (ICE). Since school bus fuel has a negative environmental impact, these factors are anticipated to propel the market at a steady pace over the course of the projected period.

 

  • In 2023, the type C segment accounted for the largest revenue share over the forecast period.

On the basis of capacity design, the United States school bus market is segmented into Type A, Type B, Type C, Type D. Among these, the type C segment has the largest revenue share over the forecast period. The 'classic' school bus design is commonly known as the type C arrangement. Because of this familiarity, school districts feel more at ease while acquiring them. In addition, they present a more advantageous trade-off between upfront cost, ongoing maintenance costs, and long-term robustness, rendering them a financially reasonable option for numerous educational establishments.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States school bus market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Thomas Built Buses Inc.
  • Collins Bus Corporation
  • Lion Electric Company
  • Blue Bird Corporation
  • Tata Motors
  • Yutong Buses Co. Ltd
  • Anhui Ankai Automobile
  • JCBL Limited
  • IC Bus (Navistar International Corporation)
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Development

  • On July 2023, Blue Bird Corp. showcased their next-generation Vision electric school bus at an industry and technology event in Reno, Nevada. The Vision vehicle debut showcases the electric powertrain provided by Cummins' new zero-emissions technology business area, Accelera by Cummins. Blue Bird's next generation of electric school buses will be manufactured in Fort Valley, Georgia.

 

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the United States school bus market based on the below-mentioned segments:

 

United States School Bus Market, By Power- Train Type

  • IC Engine
  • Electric
  • Hybrid

 

United States School Bus Market, By Capacity Design

  • Type A
  • Type B
  • Type C
  • Type D

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