Transit Bus Market Analysis

Transit Bus Market Analysis

Based on fuel type, the diesel segment held over 65% of the market share in 2022. The extensive adoption of diesel-powered buses is driving the growth of the diesel fuel segment within the market. Due to their established infrastructure, affordability, and operational efficiency, diesel-fueled buses are extensively utilized by transit agencies globally. The vast existing fleet and industry familiarity with diesel technology make it a preferred choice.
 

Based on seating capacity, the 40-70 seats segment accounted for 55% of the transit bus market share in 2022, owing to the increasing introduction of 40-seater transit buses. 40-70-seater buses meet the demand for medium-capacity transport, offering a balance between passenger capacity and maneuverability. For instance, in October 2023, the Transport Minister of Karnataka, India, inaugurated 40 non-AC sleeper buses, hundred Karnataka non-AC buses, and new point-to-point buses. This initiative is a key component of the Karnataka State Road Transport Corporation’s strategy to introduce more 798 new buses in 2023.
 

Asia Pacific transit bus market recorded more than 65% of the revenue share in 2022, attributed to the increasing environmental consciousness and efforts to reduce pollution. With a focus on sustainable transportation, the demand for electric & hybrid buses has surged. Government incentives and policies supporting eco-friendly public transportation have encouraged the adoption of cleaner technologies. As a result, transit agencies and operators are investing in environment-friendly buses, leading to market expansion and a greener future for public transportation in China.