School Bus Industry Overview
The school bus market is moderately consolidated. The market is characterized by the presence of major global and local school bus manufacturers who also cater to other countries. The United States, China, and India players mainly dominate the market. These players also engage in joint ventures, mergers and acquisitions, new product launches, and product development to expand their brand portfolios and cement their market positions.
Some of the major players dominating the global market are Thomas Built Buses, Yutong Bus Co., Tata Motors Ltd, Ashok Leyland Ltd, and IC Bus. Key players are securing large orders and launching new products to secure their market position and stay ahead of the market curve. For instance, in April 2022, Lion Electric Company, a leading all-electric medium and heavy truck manufacturer, announced that it had received an order for 50 all-electric school buses of the LIONC segment for the province of Quebec. In September 2022, Dwight School London introduced electric bus services in partnership with the global smart bus transport company Zeelo. The initiative is expected to reduce the carbon emissions of Dwight School London by as high as 33% annually.
Additionally, in May 2022, First Student introduced electric school buses in its network with the buses procured from Lion Electric Company. First Student aims to eventually induct 250 electric school buses into its network.
School Bus Market Leaders
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Tata Motors Ltd.
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Yutong Bus Co. Ltd.
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Ashok Leyland Ltd.
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Thomas Built Buses
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IC Bus
- *Disclaimer: Major Players sorted in no particular order
