Global Buses and Coaches Market Opportunities and Strategies to 2032: Daimler Truck Group Dominates Competitive Landscape with 18.09% Share


Dublin, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The "Buses and Coaches Global Market Opportunities and Strategies to 2032" report has been added to's offering.

The global buses and coaches market has displayed substantial growth, reaching a value of nearly $42,658.9 million in 2022, reflecting a Compound Annual Growth Rate (CAGR) of 3.4% from 2017. This market is forecasted to surge to $57,023.1 million by 2027, at a rate of 6.0%. Furthermore, the market is predicted to maintain this momentum, with a CAGR of 6.1% from 2027, ultimately reaching $76,629.6 million in 2032.

Market Dynamics and Growth Drivers

The historic period (2017-2022) saw notable expansion due to factors such as the growth of emerging markets, a low-interest rate environment, rapid urbanization, and technological advancements. Conversely, fluctuations in metal prices, political and trade uncertainties, and the impact of COVID-19 presented challenges during this period.

In the forecast period (2022-2032), the buses and coaches market is expected to witness growth driven by increased demand for bus travel, a rise in mini-bus and coach demand, government initiatives favoring the industry, and a focus on reducing carbon emissions. However, potential obstacles include limitations of electric vehicles, growing urban metro transportation preference, stringent CO2 emission regulations, and the impact of the Russia-Ukraine War.

Segmentation Insights

The market is categorized by fuel type, application, and body built. Diesel fuel held the largest share of 74.0% in 2022, while the electric and hybrid segment is projected to witness the fastest growth, with a CAGR of 10.5%.

In terms of applications, general transit dominated with 54.3% of the total market share in 2022. The tourist segment is predicted to be the fastest-growing, with a CAGR of 7.1%.

The fully built body segment accounted for 60.7% of the total market in 2022, while the customizable segment is expected to experience the highest growth, with a CAGR of 6.3%.

Regional Analysis and Top Players

Asia-Pacific led the market with a share of 43.9% in 2022, followed by North America, Western Europe, and other regions. Western Europe and the Middle East are forecasted to experience the fastest growth with CAGRs of 7.4% and 7.3%, respectively, from 2022 to 2027.

The competitive landscape of the market is concentrated, with the top ten competitors making up 47.54% of the total market in 2022. Daimler Truck Group held the largest market share at 18.09%, followed by Volkswagen AG (10.47%) and Iveco Group (5.77%).

Emerging Opportunities and Strategies

The report identifies opportunities for market players, including focusing on zero-emission coaches, expanding in emerging markets, implementing predictive maintenance services, and exploring 3D printing technologies. Strategies adopted by industry players include introducing CO2-neutral vehicles, forming partnerships for electric and self-driving buses, and launching new products to enhance business operations.

The report is a comprehensive guide for industry stakeholders, offering critical insights to support informed decision-making, strategic planning, and sustainable growth.

Key Attributes:

Report AttributeDetails
No. of Pages311
Forecast Period2021 - 2031
Estimated Market Value (USD) in 2021$42658.9 Million
Forecasted Market Value (USD) by 2031$76629.6 Million
Compound Annual Growth Rate6.0%
Regions CoveredGlobal

A selection of Companies Mentioned in this report includes

  • Daimler Truck Group
  • Volkswagen AG
  • Iveco Group
  • Zhengzhou Yutong Bus Co., Ltd.
  • Volvo Group.

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Global Buses And Coaches Market