The Buses (Except Diesel Buses) market size value per capita in China experienced fluctuating growth from 2012 to 2022. While the market saw a peak in 2014, the trend generally inclined towards a decline with a notable drop between 2017 and 2020. Year-on-year variations reveal a mixed performance with the market showing signs of recovery starting from 2021. Specifically, between 2021 and 2022 the market grew by 4%, following a rebound from 0.67 in 2020 to 0.75 in 2021.
Analyzing the last five years from 2018 to 2022, the Compound Annual Growth Rate (CAGR) demonstrates a mildly negative average variation per year of -0.8%, underscoring the market's volatility and the impact of various economic and policy factors on its performance.
Future trends to watch for include the increasing adoption of electric and hybrid buses driven by China's commitment to reducing carbon emissions. Additionally, technological advancements and policy support towards fostering an eco-friendly transportation system will likely create further market opportunities. Robust investments in infrastructure and urban transportation projects may also paint a positive future outlook for non-diesel buses in China.
