Latest News- School Bus Market: ICE-powered is expected to lead the Powertrain Type segment during 2025-2029

The School Bus Market is being driven by Increase in number of school enrollments

The School Bus Market is expected to grow at a CAGR of 4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1352.6 million. The global school bus market is undergoing significant technological advancements, with a focus on implementing information technology to optimize school bus operations. One such innovation is In-Depth Diagnostics, which utilizes advanced sensors to alert drivers to engine faults, damaged indicator lights, and issues with oil tanks, transmission, or exhaust systems. By ensuring more precise and timely repairs, this technology prevents costly breakdowns and reduces long-term maintenance expenses. Another development is the use of Advanced Telematics, which incorporates sensor-based detection systems for seat belt usage, door opening and closing, stop sign and arm functionality, speed control, and engine idle time. These features facilitate comprehensive pre-trip inspections, thereby enhancing the safety of school buses. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Powertrain Type
  • ICE-powered
  • Electric
• Type
  • Type C
  • Type B
  • Type A
  • Type D
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in number of school enrollments
• Growing interest toward electric vehicles
• Advantages of school buses over other modes of transportation

However, the market also witnesses some limitations, which are as follows:

• Stringent emission and fuel economy standards
• Shutdown of manufacturing and production units
• Lack of adequate charging infrastructure

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Market Scope in School Bus Market Research Report

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Research Analysis Overview

Electric School Buses are revolutionizing the transport sector with the integration of Artificial Intelligence and IoT in Fleet Management Solutions. BYD leads this shift towards electromobility, offering advanced features like Seat Belts, GPS tracking, Enhanced Braking Systems, and PM-eBus Sewa. These innovations prioritize Student Safety, Driver Visibility, and Reaction Time, addressing Rising Student Enrollment and Fuel Efficiency concerns. Electric School Buses reduce Greenhouse Gas Emissions, harmful emissions contributing to air pollution, and improve Physical and Mental Well-being by mitigating Asthma, Allergies, and other health issues.

Market Research Overview

The global passenger ground transportation market encompasses businesses involved in passenger transportation and associated services, comprising buses, taxis, vehicle rentals, ridesharing platforms, and passenger logistics. According to Technavio, the market size is determined by the consolidated revenue of enterprises active in the passenger land transportation sector, including vehicle rental, leasing, ridesharing, on-demand ride-sharing services, and other passenger logistics. Key growth drivers in the market include the surge in disposable income and the increasing prevalence of electric and autonomous vehicles, particularly in the school bus segment, with companies like BYD and Thomas Built Buses leading the electromobility charge, as well as the integration of IoT and AI in fleet management solutions to optimize operational efficiency and reduce greenhouse gas emissions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/