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The school bus market size is estimated to increase by USD 1.52 billion, at a CAGR of 4.6% between 2023 and 2028. The market growth for school buses is influenced by several key factors. A significant driver is the increasing number of school enrollments, which boosts demand for student transportation. Additionally, the rising interest in electric vehicles (EVs) contributes to market expansion, as electric school buses become more popular due to their environmental benefits. School buses also offer distinct advantages over other modes of transport, such as enhanced safety and the ability to manage large groups of students efficiently. However, the market faces several challenges. Stringent emission and fuel economy standards impose additional costs and complexities for manufacturers and operators. The frequent need for repairs and maintenance further strains resources, impacting operational efficiency. Additionally, the current lack of adequate charging infrastructure for electric buses presents a significant hurdle, slowing the adoption of EVs in this sector. Overcoming these challenges is essential for the sustainable growth of the school bus market.
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The market is experiencing significant growth due to the increasing enrollment numbers in educational institutions and the shift towards electromobility in the transport sector. Electric School Buses, powered by Artificial Intelligence and IoT, are becoming increasingly popular. These buses offer enhanced features such as GPS tracking, enhanced braking systems, and improved driver visibility, ensuring student safety. Electric buses are a key component of the electromobility movement, reducing harmful emissions that contribute to air pollution, which can lead to health issues like asthma and allergies. BYD, a leading manufacturer, is at the forefront of this trend, offering fuel-efficient and maneuverable electric buses. Fleet Management Solutions play a crucial role in optimizing the operations of these buses, improving fuel efficiency, and reducing greenhouse gas emissions. Parents appreciate the real-time updates on their child's location and reaction time of the bus drivers. The integration of seat belts and other safety features further enhances the physical and mental well-being of students. In conclusion, the market is witnessing a transformation, driven by the need for sustainable and safe transportation solutions. Electric School Buses, with their advanced features and benefits, are set to redefine the future of student transportation. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The School Bus market is experiencing significant growth due to the increasing enrollment numbers in educational institutions and the shift towards electromobility in the transport sector. Electric School Buses, powered by Artificial Intelligence and IoT, are becoming increasingly popular. These buses offer enhanced features such as GPS tracking, enhanced braking systems, and improved driver visibility, ensuring student safety. Electric buses are a key component of the electromobility movement, reducing harmful emissions that contribute to air pollution, which can lead to health issues like asthma and allergies. BYD, a leading manufacturer, is at the forefront of this trend, offering fuel-efficient and maneuverable electric buses. Fleet Management Solutions play a crucial role in optimizing the operations of these buses, improving fuel efficiency, and reducing greenhouse gas emissions. Parents appreciate the real-time updates on their child's location and reaction time of the bus drivers. The integration of seat belts and other safety features further enhances the physical and mental well-being of students. In conclusion, the School Bus market is witnessing a transformation, driven by the need for sustainable and safe transportation solutions. Electric School Buses, with their advanced features and benefits, are set to redefine the future of student transportation.
The global school bus market experiences continuous growth due to the increasing student enrollment numbers worldwide. This trend necessitates the need for efficient and reliable student transportation services, leading educational institutions, transportation authorities, and private bus operators to expand their fleets. The focus on student safety is paramount, with enhancements in safety measures, optimization of bus routes, and upgrading of bus fleets with advanced technologies such as artificial intelligence (AI) and the Internet of Things (IoT) for fleet management solutions. Electric school buses are gaining popularity due to their eco-friendly nature and reduced greenhouse gas emissions. Key players in the market include BYD, Thomas Built Buses, and First Student, among others. The adoption of electromobility in the transport sector is a significant step towards clean mobility and reducing harmful emissions, which contribute to air pollution, asthma, and allergies.
Parents demand enhanced safety features, including seat belts, GPS tracking, and enhanced braking systems, to ensure their children's physical and mental well-being during transportation. Driver visibility and reaction time are crucial factors in student safety, and fleet operators are investing in these areas to meet the rising demand. Fuel efficiency and maneuverability are essential considerations for fleet management, with economies of scale and fuel consumption being critical factors in the decision-making process. The environmental impact of buses is a growing concern, and the adoption of electric buses and other clean mobility solutions is a priority for many operators. The PM-eBus Sewa initiative in India and other similar programs aim to promote the use of electric buses in the school bus market, further reducing harmful emissions and promoting clean mobility. The transport sector's shift towards e-buses and the retirement of diesel buses is a positive step towards improving air quality and promoting the well-being of students and communities.
The increasing number of school enrollments is driving growth in the market. The increased world population is generating an increase in the number of children who attend school, thanks to countries like China and India. This, in turn, raises the demand for a large number of schools and adequate infrastructure pertaining to the education sector, which includes transportation and other amenities.
However, according to the World Federation of International Schools, which has about 10,000 international schools around the world as of 2020, this increase in school enrolments is an important factor that will contribute to the global bus market's growth over the forecast period. The number of international schools is on the rise even in emerging economies such as India, China, and the UAE. In addition, countries such as the US and Canada are global leaders in education infrastructure, which is a significant driver for the growth of the global market.
The school bus market is undergoing significant technological advancements, which is a new trend. One such innovation is In-Depth Diagnostics, which utilizes advanced sensors to detect engine faults, damaged indicator lights, and issues with oil tanks, transmission, or exhaust systems. This technology ensures more precise and timely repairs, thereby preventing breakdowns and reducing maintenance expenses. Another technological development is the implementation of Advanced Telematics, which includes sensors for seat belt use, door opening and shutting, stop sign and stop arm functionality, speed control, engine idle time, and more. These sensors assist in conducting pre-trip tests, enhancing student safety by monitoring seat belt usage, GPS tracking, and enhanced braking systems.
With the increasing student enrollment, the need for economies of scale and fuel efficiency has led educational institutions to explore various options, including the adoption of Electric School Buses. The transport sector is transitioning towards electromobility, with companies like BYD, Thomas Built Buses, First Student, Zeelo, and PM-eBus Sewa leading the way. This shift towards electric buses not only reduces greenhouse gas emissions but also addresses the concerns of harmful emissions, contributing to improved physical and mental well-being for students and parents. Additionally, the integration of Artificial Intelligence and the Internet of Things (IoT) in fleet management solutions enhances driver visibility, reaction time, and student safety. The adoption of these technologies in school buses is crucial in addressing fuel consumption, maneuverability, and environmental impact, ultimately promoting clean mobility in the transport sector.
Technological innovations for effectiveness are a primary trend in the market. The global market is witnessing a few technological innovations in using information technology to ensure effectiveness. Such in-depth diagnostics ensure more accurate and timely repairs and avoid breakdowns and high maintenance expenses down the line. Advanced Telematics enhances safety, a variety of sensor-based detection systems are currently available. Sensors for seat belt use, door opening and shutting, stop sign and stop arm functionality, speed control, and engine idle time, among other things, assist in conducting pre-trip tests.
In the event of a driver's failure to notice, lane departure warning and Lane Assist systems shall automatically drive the car back in line. Intelligent Speed Assistance is Speeding in one of three primary factors that contribute to road fatalities. The system will notify drivers of speed limits using GPS-linked speed limit data or speed recognition cameras and will be capable of immediately shutting down acceleration. The introduction of such innovations is likely to positively impact the global market during the forecast period.
Concerns related to emissions and enviromment hinder growth. School buses play a significant role in transporting students to and from educational institutions. With the growing concern over greenhouse gas emissions and the depletion of conventional fuel sources, there is a shift towards electromobility in the transport sector. Electric school buses, such as those manufactured by BYD, are gaining popularity due to their environmental benefits. Artificial Intelligence (AI) and Internet of Things (IoT) technologies are being integrated into fleet management solutions to enhance safety and efficiency. Electric school buses produce zero harmful emissions, reducing air pollution and contributing to the physical and mental well-being of students. According to studies, air pollution caused by diesel buses can lead to asthma, allergies, and other health issues. By transitioning to electric buses, educational institutions can mitigate these risks. Fuel efficiency and maneuverability are essential factors in school bus design.
Economies of scale and rising student enrollment necessitate the need for large bus fleets. Fleet management solutions, such as those offered by Zeelo, Thomas Built Buses, and First Student, provide features like seat belts, GPS tracking, and enhanced braking systems to ensure student safety. Parents and drivers benefit from improved driver visibility and reaction time, leading to a safer riding experience. Governments worldwide are implementing regulations to reduce greenhouse gas emissions and improve fuel consumption in the transport sector. Companies like PM-eBus Sewa are investing in electric buses to meet these requirements. The transition to electric school buses not only benefits the environment but also reduces fuel consumption and operational costs in the long run. In conclusion, electric school buses represent a clean and efficient solution for transporting students to and from educational institutions. With advancements in technology and increasing regulations, the adoption of electric buses is becoming a necessity for ensuring student safety, reducing environmental impact, and improving overall transport sector efficiency.
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The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global School Bus Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ashok Leyland Ltd - The company offers school buses such as sunshine diesel.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The ICE-powered segment will account for a major share of the market's growth during the forecast period. In this segment, buses using alternative fuels (other than diesel and gasoline) such as compressed natural gas (CNG) and propane have been considered. All these fuels use the same powertrain (ICE). Fuels used in buses have a harmful impact on the environment, which is one of the major challenges faced by the global market.
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The ICE-powered segment was valued at USD 5.12 billion in 2018. The pollutants emitted by ICE-powered school buses have led to a reduction in their sales and are expected to grow at a steady rate during the forecast period.
Within the global market, type C school buses are a specific segment. Type C is also referred to as an ordinary or "front-engined" vehicle. Their distinctive shape, where the engine is placed at the top of the front outside the passenger compartment, allows them to be easily identified. The trend toward weight and cost reduction in the global market is driven by a combination of factors, including technological advancements, environmental considerations, regulatory requirements, and economic considerations.
North America is estimated to contribute 42% to the growth of the global market during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The market in North America is a consolidated one. The region is characterized by the presence of major manufacturers who also cater to other countries. Blue Bird Corporation, IC Bus, and Thomas Built Buses Inc. are the three key players that occupy a major share of the market. Other major companies are Collins Bus Corporation, Micro Bird, and Lion Electric company. Moreover, companies are introducing new features in their products to increase their market share.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is a significant sector in the transportation industry, catering to the safe and efficient movement of students to and from educational institutions. The School Bus business model encompasses the design, manufacturing, sales, and maintenance of these specialized vehicles. Key components of School Buses include seating arrangements, safety features, and fuel efficiency. These buses are engineered to accommodate large numbers of students, ensuring their comfort and safety during transit. Safety features such as seat belts, fire suppression systems, and emergency exits are essential elements of School Buses. Fuel efficiency is another critical factor in the market. With the increasing focus on reducing carbon emissions and minimizing operational costs, manufacturers are investing in alternative fuel technologies, such as electric and hybrid buses. The School Bus market is driven by factors like the growing student population, increasing awareness of road safety, and government regulations mandating the use for student transportation. Additionally, the integration of technology in School Buses, such as GPS tracking and real-time communication systems, is enhancing the overall experience for students and parents alike. In conclusion, the School Bus market is a dynamic and evolving sector, driven by factors such as safety, fuel efficiency, and technology integration. Manufacturers are continually innovating to meet the changing demands of the market and provide safe, efficient, and technologically advanced transportation solutions for students.
The School Bus market is a significant sector in the transportation industry, catering to the safe and efficient movement of students to and from educational institutions. The School Bus business model encompasses the design, manufacturing, sales, and maintenance of these specialized vehicles. Key components of School Buses include seating arrangements, safety features, and fuel efficiency. These buses are engineered to accommodate large numbers of students, ensuring their comfort and safety during transit. Safety features such as seat belts, fire suppression systems, and emergency exits are essential elements of School Buses. Fuel efficiency is another critical factor in the School Bus market. With the increasing focus on reducing carbon emissions and minimizing operational costs, manufacturers are investing in alternative fuel technologies, such as electric and hybrid buses. The School Bus market is driven by factors like the growing student population, increasing awareness of road safety, and government regulations mandating the use of School Buses for student transportation. Additionally, the integration of technology in School Buses, such as GPS tracking and real-time communication systems, is enhancing the overall experience for students and parents alike. In conclusion, the School Bus market is a dynamic and evolving sector, driven by factors such as safety, fuel efficiency, and technology integration. Manufacturers are continually innovating to meet the changing demands of the market and provide safe, efficient, and technologically advanced transportation solutions for students.
School Bus Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2023 |
Historic period |
2017-2021 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.6% |
Market growth 2024-2028 |
USD 1.51 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.18 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 42% |
Key countries |
US, China, Canada, Japan, and UK |
Competitive landscape |
Leading Companies,market trends, market trends and analysis Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ashok Leyland Ltd., Berkshire Hathaway Inc., Blue Bird Corp., Daimler Truck AG, Eicher Motors Ltd., Ford Motor Co., GreenPower Motor Co. Inc., Higer Bus USA, JCBLGroup, Mahindra and Mahindra Ltd., Mercedes Benz Group AG, REV Group Inc., Porsche Automobil Holding SE, SML Isuzu Ltd., Tata Motors Ltd., The Lion Electric Co., Trans Tech Bus, Traton SE, Van Con Inc., and Zhengzhou Yutong Group Co. Ltd. |
Market dynamics |
Parent market analysis, market trends, market trends and analysis, market growth analysis, market research and growth, market growth and forecasting, Market forecasting, market growth and trends, market report, market forecast, market analysis and report, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Powertrain Type
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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