DUBLIN, Sept. 5, 2022 /PRNewswire/ — The “U.S. Bus Market Report: By Vehicle Type, Body Type, Ownership, Propulsion, Length, Seating Capacity – Industry Revenue Estimation and Demand Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The U.S. bus market was worth $7,453.4 million in 2021, which is projected to reach $11,237.7 million by 2030, rising at a 4.7% CAGR from 2021 to 2030
This can be credited to the rising urbanization rate, growing population, as well as the increasing government investment in public transportation upgrades. Furthermore, the significant demand for school buses promotes the market expansion in the country.
Collaborations, partnerships, product debuts, and contract wins have all been used by the players in the U.S. bus market to obtain a competitive advantage. REV Group Inc., Daimler Truck AG, Navistar International Corporation, The Lion Electric Company, AB Volvo, Blue Bird Corporation, GILLIG LLC, NFI Group Inc., GreenPower Motor Company Inc., and BYD Company Limited are the key market players.
Standard buses had the bigger revenue share in 2021, and the category is expected to continue to dominate the U.S. bus market in the coming years. This will be due to the widespread usage of standard buses in public transit and school fleets. Furthermore, schools do not allow customized vehicles, which increases the demand for standard buses.
The usage of public transportation has the potential to enhance…
