Bus And Coach Market Set To Expand To $21.61 Billion By 2029 With 5.3% CAGR Growth

(MENAFN- GlobeNewsWire - Nasdaq) Key opportunities in the buses and coaches market include growth driven by urbanization and demand in emerging markets. The shift to electric and sustainable mobility solutions, demand for mini-buses, and favorable government policies also contribute. Technological innovations like driverless tech and predictive maintenance enhance market potential.

Dublin, Dec. 12, 2025 (GLOBE NEWSWIRE) -- The "Buses And Coaches Global Market Report 2025" has been added to ResearchAndMarkets's offering.

The global buses and coaches market has experienced steady growth, projected to expand from $16.87 billion in 2024 to $17.55 billion in 2025 at a CAGR of 4.1%. This upward trend is primarily due to growth in emerging markets, a favorable low-interest-rate environment, and technological advancements. By 2029, the market is expected to reach $21.61 billion, with a CAGR of 5.3%, driven by a focus on reducing carbon emissions, increased demand for mini-buses and coaches, and government initiatives.

Key trends in the forecast period include the electrification of vehicles, adoption of driverless technology, predictive maintenance solutions, 3D printing enhancements in manufacturing, and hybrid drive systems. However, the growth forecast is slightly revised down by 0.6% due to tariffs between the US and other countries, affecting costs and fleet renewal budgets. This economic impact is felt globally due to increased trade tensions.

Urbanization is a significant driver of market expansion, with cities evolving and populations shifting from rural to urban areas. The United Nations Conference on Trade and Development noted that urban populations stood at 56% in 2021 and are projected to rise to 68% by 2050. This trend underlines the market's growth potential, as buses and coaches play a crucial role in sustainable public transportation systems.

Technological advancements remain at the forefront, with companies focusing on sustainable electromobility platforms. Such platforms integrate electric vehicles and supporting technologies for optimized performance. For instance, AB Volvo introduced the BZR Electric in March 2024, enhancing its electric bus fleet for urban applications. This platform offers modular energy solutions and surpasses safety standards to protect road users.

The market encompasses various types, including diesel and hybrid electric buses, catering to diverse applications such as transit, tourism, and personal use. However, trade tensions and rising tariffs on commercial vehicles and parts have strained the transport sector. Companies increasingly adopt efficiency measures, alternative supply sources, and automation to manage costs and maintain service standards.

Recent strategic moves include Academy Bus launching the Mercedes-Benz Tourrider Coach in April 2023, emphasizing long-distance travel with safety and infotainment enhancements. In June 2024, VDL Groep acquired Van Hool to bolster its market presence with a sustainability focus.

North America led the market in 2024, with Asia-Pacific following. Key regions covered include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The market report provides a comprehensive overview, offering insights into market size, regional shares, competitors, trends, and strategic recommendations.

Major industry players include Mercedes-Benz Group AG, Volkswagen AG, CNH Industrial N.V., YUTONG, Volvo, Hyundai Motor Company, and several others, each contributing to the competitive landscape with innovation and strategic market positioning.

The "Buses and Coaches Global Market Report 2025" is an essential tool for strategists, marketers, and senior management aiming to navigate the rapidly expanding market. This report provides a detailed guide to trends and influential factors poised to shape the sector over the next decade and beyond.

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Companies Featured

• Mercedes-Benz Group AG
• Volkswagen AG
• CNH
• INDUSTRIAL N.V. (IVECO subsidiary of CNH Industrial)
• YUTONG
• Volvo
• Hyundai Motor Company
• Xiamen King Long United Automotive Industry
• Ashok Leyland
• Zhongtong Bus
• ANKAI
• Mitsubishi
• Fiat Chrysler Automobiles
• Scania
• Toyota Motor Corporation
• BYD Auto
• Shaanxi Automobile Group
• Beiqi Foton Motor Co.
• SAIC Motor Commercial Vehicle Co.
• MAN Truck & Bus SE
• Irizar
• Solaris
• VDL
• Gaz Group
• NefAZ (KAMAZ affiliate)
• UAZ
• Elegantbus
• Cento Bus
• Bus Factory
• Temsa
• Hafilat
• Karsan
• Otokar
• Tata Motors

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