Global Double-decker Bus Market Infographics Description:
- The global double-decker bus market is estimated at US$ 1,165.5 Mn in 2020.
- Worldwide double-decker bus market is projected to reach US$ 1,581.7 Mn in 2029 at a CAGR of 3.5% from 2021 to 2030.
- Among all the bus type segments, the electric bus segment is expected to register the highest CAGR of over 5.1%, followed by the hybrid bus segment. It is owing to the increasing focus on electric vehicles by the government.
- Amongst application segments, the public transport segment in the global double-decker bus market is estimated to account for a majority revenue share of 49.3% in 2020 end, followed by the intercity/coaches segment.
- Market in Europe is expected to dominate the target market, followed by the Asia-Pacific region. It is expected to account for the largest market revenue share as compared to that of markets in other regions.
- Companies profiled in the report are Daimler AG, Volkswagen AG (Scania AB & MAN SE), Hinduja Group (Ashok Leyland), AB Volvo (Volvo Buses), BYD Co Ltd. (BYD Auto), VDL Groep BV, Zhengzhou Yutong Bus Co., Ltd., NFI Group Inc. (Alexander Dennis Ltd.), Marcopolo S.A., Van Hool NV, Adi Putro, and Bustech Pty Ltd.
Report Overview
The global double-decker bus market is projected to reach USD 1.9 billion by 2033, up from USD 1.3 billion in 2023, expanding at a compound annual growth rate (CAGR) of 3.6% from 2024 to 2033.
A double-decker bus is a type of bus that has two levels or decks, allowing it to carry a larger number of passengers compared to traditional single-decker buses. The design typically features a higher, second deck that can accommodate more passengers while maintaining a compact footprint on the road, making it ideal for urban environments with high passenger demand. Double-decker buses are widely used in both city transit systems and in tourism, offering panoramic views for sightseeing.
The double-decker bus market refers to the commercial ecosystem involving the manufacturing, sale, and operation of double-decker buses. This market encompasses various stakeholders, including bus manufacturers, transportation operators, and government entities, with key players involved in the production of both traditional diesel-powered and increasingly popular electric double-decker buses. The market is influenced by factors such as urbanization, public transportation infrastructure, government policies, and the shift toward sustainable mobility solutions.
Several growth factors are driving the expansion of the double-decker bus market. First, rapid urbanization across emerging economies is increasing the demand for efficient public transportation systems that can handle rising passenger volumes. Double-decker buses, with their high passenger capacity, offer an effective solution to the challenges of urban congestion and limited road space.
Additionally, governments around the world are prioritizing public transport as a means to reduce traffic congestion, improve air quality, and mitigate climate change. As part of these sustainability initiatives, there has been a growing interest in electric double-decker buses, spurred by advancements in electric vehicle (EV) technology, as well as favorable regulatory policies aimed at reducing emissions from the transportation sector.
Demand for double-decker buses is particularly strong in densely populated cities, where space is at a premium and public transportation systems are under pressure to meet the mobility needs of expanding populations. The growing preference for public transport over private cars, driven by environmental awareness and increasing fuel costs, further propels the demand for these vehicles.
Additionally, double-decker buses are increasingly being deployed for long-distance travel and tourism, especially in major tourist destinations where they offer a unique sightseeing experience. As urban infrastructure evolves, demand is expected to grow not only in traditional markets like the UK, but also in emerging cities in Asia, the Middle East, and Latin America.
The double-decker bus market presents significant opportunities, particularly in the context of the global shift toward greener transportation. As governments implement stricter emissions regulations, electric and hybrid double-decker buses are expected to gain momentum, offering manufacturers a lucrative avenue for innovation and growth. There is also considerable opportunity in expanding the use of double-decker buses in tourist-oriented services, where the buses can serve dual purposes—enhancing the tourism experience while meeting transportation needs.
Key Takeaways
- The global double-decker bus market is projected to reach USD 1.9 billion by 2033, growing from USD 1.3 billion in 2023, at a compound annual growth rate (CAGR) of 3.6%.
- Diesel and gasoline-powered buses continue to dominate the market, accounting for 32.6% of the total market share, driven by the established infrastructure and proven technology that supports their widespread use.
- Public transportation remains the dominant application segment, with a 52.2% market share, due to the high demand for passenger capacity and the need to address urban congestion challenges effectively.
- Europe holds the largest market share, with 34.5%, largely due to extensive adoption in public transportation systems and intercity travel, supported by favorable regulatory policies promoting sustainable transport.
- North America follows with a 20% market share, fueled by the growing adoption of electric and hybrid buses, as well as the expansion of urban transportation networks aimed at meeting evolving mobility needs.
Key Players Analysis
The global double-decker bus market is characterized by a diverse set of players, each contributing to the market’s growth through innovation, geographical expansion, and technological advancements. Leading the charge are global giants such as Daimler AG and Volkswagen AG, which bring advanced engineering and a strong presence in both traditional and electric bus markets.
Daimler’s integration of electric mobility into its bus line-ups, particularly under its Mercedes-Benz brand, positions it as a key player in the transition towards more sustainable transportation solutions. Similarly, Volkswagen’s investment in electric and hybrid buses under its MAN and Scania brands is helping the company capitalize on growing demand for eco-friendly urban mobility.
Hinduja Group, through its Ashok Leyland subsidiary, holds a significant share in the market, particularly in emerging regions, thanks to its well-established reputation for durable and cost-effective buses. AB Volvo stands out for its focus on technology-driven, high-capacity buses, with an emphasis on safety, environmental sustainability, and fuel efficiency, aligning with global trends toward cleaner, greener public transport.
In the electric vehicle (EV) segment, BYD Co Ltd. is a major player, leveraging its expertise in battery technology to manufacture cutting-edge electric double-decker buses, catering to cities aiming for zero-emission public transport. Similarly, Zhengzhou Yutong Bus Co. Ltd. has emerged as a dominant force in the Chinese and global markets, benefitting from both cost-effective manufacturing and innovations in electric bus technology.
Other companies, such as VDL Groep BV, Marcopolo S.A., and Van Hool NV, are also noteworthy for their strong regional presence and continued focus on customization, safety features, and fuel efficiency. NFI Group Inc. and Bustech Pty Ltd. offer specialized solutions for both urban and intercity transit, further solidifying their positions in key markets. Adi Putro and smaller regional players are capitalizing on growing demand for bespoke and budget-friendly double-decker buses, especially in Southeast Asia and other emerging regions.
