The production of buses in China experienced a notable decline from 2013 to 2020, with significant year-on-year decreases, especially from 2015 to 2017. The production stood at 51.41 ten thousand units in 2023, reflecting a slight increase over the previous two years. Recent data indicates a stabilizing trend with a forecasted moderate growth trend peaking at 55.55 ten thousand units by 2028. The average annual growth rate is projected to be 1.08% over the next five years.
Future trends to watch for:
- Technological innovations in bus manufacturing.
- Government policies promoting green energy and electric buses.
- Shifts in public transportation demand post-pandemic.
- Global economic conditions impacting production and exports.
