The market size of buses (except diesel buses) in China has shown fluctuating values from 2013 to 2023. Peaking in 2014 at 1.4289 billion USD, the market has experienced notable declines in subsequent years, reaching a low of 0.9317 billion USD in 2020. In 2023, the market stood at 1.0907 billion USD, representing a year-on-year decrease of 0.95%. The CAGR over the past five years, ending in 2023, has been -0.97%, indicating an overall declining trend. Moving forward, forecasts suggest a continued but modest downward trend at a -0.8% CAGR over the next five years.

Future trends to watch for:

Government policies promoting green buses, potentially enhancing market growth for electric buses.
Technological advancements in bus manufacturing and the integration of smart technologies.
China's urbanization and public transportation investments influencing market demands.
Potential impacts of global economic conditions on the bus manufacturing industry.