School Bus Market Analysis 2021-2025: 46% of Growth Rate will Originate from North America
The school bus market share is expected to grow by USD 848.47 million, accelerating at a CAGR of 3.68% during the forecast period. Technavio’s research reports offer a detailed analysis of the market segments, delving deep into the factors that will lead to the growth of each segment. It also offers insights that are likely to have a negative impact on market growth. This comprehensive analysis of the market will enable clients to identify areas of growth and steer clear of the low-performing segments. Unlock Free Sample Analysis Report
School Bus Market: Market Segments and Growth Forecasts
The school bus market report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The school bus market is segmented by Powertrain (ICE-powered and electric) and Geography (North America, APAC, Europe, MEA, and South America).
- The school bus market value in the electric segment will be significant during the forecast period. The growth of the segment is attributed to the increasing need for environment-friendly vehicles.
- The presence of several large school bus manufacturers will increase the school bus market growth in North America. 46% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for school buses in North America.
- The school bus market report provides an accurate prediction of the contribution of all the geographic segments to the growth of the school bus market size.
School Bus Market: Trends, Drivers, Challenges
- An increase in the number of school enrollments will be a significant factor in driving the growth of the School Bus Market.
- Growing interest toward electric vehicles will be instrumental in driving the market growth during the forecast period.
- Technological advancements are the major school bus market trends that will have a positive impact on the market growth.
- The adoption of new or improvised emission standards is a hurdle that needs to be crossed on the path to success.
School Bus Market: Vendor Analysis
The market is fragmented due to the presence of several players. Some of the major school bus market vendors are:
- Ashok Leyland Ltd.
- Blue Bird Corp.
- Daimler AG
- Ford Motor Co.
- Forest River Inc.
- JCBL Ltd.
- Mahindra & Mahindra Ltd.
- Navistar International Corp.
- REV Group Inc.
- Tata Motors Ltd.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerating at a CAGR of 3.68%.
- What is the incremental growth of the market?
The market is expected to grow by USD 848.47 million.
- What is a key factor driving this market?
An increase in the number of school enrollments will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, APAC, Europe, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market?
46% growth will originate from North America.
- Who are the leading market vendors?
The leading vendors in this market are Ashok Leyland Ltd., Blue Bird Corp., Daimler AG, Ford Motor Co., Forest River Inc., JCBL Ltd., Mahindra & Mahindra Ltd., Navistar International Corp., REV Group Inc., and Tata Motors Ltd.
- What are the market segments covered in this report?
The market is segmented by Powertrain (ICE-powered and electric) and Geography (North America, APAC, Europe, MEA, and South America).