India Bus Market Overview
Market Size in 2024: USD 2.24 Billion
Market Forecast in 2033: USD 3.22 Billion
Market Growth Rate: 3.80% (2025-2033)
According to the latest report by IMARC Group, the India bus market size was valued at USD 2.24 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 3.22 Billion by 2033, exhibiting a CAGR of 3.80% from 2025-2033.
India Bus Industry Trends and Drivers:
India's growing bus market has received a massive fillip from the burgeoning urban population and increased demand for efficient public transport. It has, therefore, gained increasing prominence to provide reliable and sustainable mobility in the face of growing urbanization in India. Due to their economic viability, accessibility, and mass-passenger carrying capacity, buses have become the preferred mode of transport. Government efforts to improve public transport systems have laid the groundwork for an increased public demand for transport that contrasts with traffic congestion and environmental concerns. Bus demand rises with city development, leading to an upward push in the market.
Apart from urbanization, sustainability has also emerged as a strong determining factor in the development of the bus market in India. As carbon emissions and air pollution are prime concerns in the national consciousness, policymakers and players in the public sector and private sectors have been pushing the adoption of electric and hybrid buses. Environmentally friendly buses, becoming popular with customers, are now being inducted into fleets to meet their rising demand for greener choices. In addition to that, the Indian government actively promotes eco-friendly mobility solutions through incentives and policy frameworks, thus further accelerating the market. Bus manufacturers are thus responding by innovating different kinds of fuel applications for range, from old-style diesel buses to clean and green options.
Further, specialized applications such as school transport, intercity travel, and tourist transportation are driving increasing demand for buses in India. With manufacturers increasing seat capacities and launching various bus types, such as luxury and mini buses, they are addressing a range of passenger needs. These buses are engineered to provide comfort and safety in highly demanding urban areas. With further impetus from the government to develop the infrastructure for public transport networks like dedicated bus lanes and smart transport systems, the market will grow phenomenally. In conclusion, with both private and public sectors backing these endeavors, the India bus market is poised for sustained growth and development until 2033.
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India Bus Industry Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Single Deck
- Double Deck
Fuel Type Insights:
- Diesel
- Electric and Hybrid
- Others
Seat Capacity Insights:
- 15-30 Seats
- 31-50 Seats
- More than 50 Seats
Application Insights:
- Transit Bus
- Intercity/Coaches
- Others
Regional Insights:
- North India
- West and Central India
- South India
- East and Northeast India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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