In 2023, the market size value per capita for buses (except diesel buses) in China stood at $0.77. Looking at the forecast data from 2024 to 2028, there is a clear downward trend in the per capita market value from $0.76 in 2024 to $0.72 in 2028. The year-on-year percentage variation for the 2024-2025 period is approximately -1.3%, continuing a similar downward trend year-over-year until 2028, with variations around -1.4%. Over the five years, the compound annual growth rate (CAGR) shows an average annual decrease of approximately -1.3%.
Future trends to watch for include advancements in electric and alternative fuel bus technologies, potential government incentives, and policies to promote green transport, which may impact market demand. Additionally, economic factors, urbanization rates, and public transportation infrastructure development will play crucial roles in shaping market dynamics.
