From 2013 to 2023, the US bus sales market showed general upward growth, with the value standing at $8.2748 billion in 2023. While the year-on-year growth saw fluctuations, significant variations included a 14.56% decline in 2020, followed by strong recovery in 2021 and subsequent steady increases until 2023. The CAGR over the last five years up to 2023 was 2.81%, indicating moderate annual growth.
Future forecasts from 2024 to 2028 predict continued growth, with the market expected to reach $9.3242 billion by 2028. The forecasted 5-year CAGR is 1.93%, suggesting a more stabilized growth rate. Key trends to watch include technological advancements in electric buses, increased federal funding for sustainable public transportation, and changing consumer preferences towards eco-friendly options.
