School and Employee Bus Services Global Market Report 2024

The school and employee bus services market size has grown strongly in recent years. It will grow from $58.3 billion in 2023 to $63.96 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The expansion observed in the historical period can be ascribed to robust economic growth in emerging markets, a low-interest-rate environment, rapid urbanization, and lifestyle changes, coupled with an escalation in safety threats.

The school and employee bus services market size is expected to see strong growth in the next few years. It will grow to $89.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The anticipated expansion in the forecast period can be credited to a growing population, technological advancements, a focus on reducing carbon emissions, and an increasing number of corporate entities and new educational institutions. Key trends expected in the forecast period encompass the integration of USB, Wi-Fi, and large-screen displays on buses, a rise in bus safety features, investments in electric buses, the adoption of hybrid buses, the implementation of advanced technologies, and increased activity in mergers and acquisitions.

The anticipated growth in the school and employee bus services market is expected to be driven by the increasing enrollment of children in schools. The enrollment of children in schools involves the formal registration process for attending an educational institution, and the demand for school bus services is directly influenced by the number of enrolled students. For example, in June 2022, the Texas Education Agency, a division of the Research and Analysis Office of Operations in the United States, reported that Texas public schools experienced an enrollment of 5,427,370 students during the 2021-22 academic year, indicating a growth of 55,784 students or a 1.0% increase compared to the previous school year (2020-21). Therefore, the upward trend in children's enrollment in schools is expected to drive the growth of the school and employee bus services market.

Government initiatives are also poised to contribute to the growth of the school and employee bus services market. Government initiatives involve plans or actions taken by authorities to address specific issues or problems and are often funded through various sources, including taxes, grants, and donations. In the context of school and employee bus services, government initiatives play a crucial role in providing financial assistance to school districts and businesses. This assistance is directed towards the purchase of new buses, the upgrading of existing buses, and the enhancement of bus safety features. As an illustration, in November 2021, the United States Department of Energy, an executive department responsible for developing and executing international energy policy, amended the Clean School Bus program. This initiative allocates funds to qualified applicants for the replacement of old school buses with new ones that emit little to no pollution. Hence, government initiatives significantly drive the growth of the school and employee bus services market.

Technological advancements emerge as a prominent trend gaining traction in the school and employee bus services market. Leading companies within this market are actively engaging in partnerships to develop and integrate innovative technologies, aiming to offer reliable services to their customers. For example, Lynchburg City Schools, a U.S.-based company focused on providing an academic environment and learning experiences, introduced Traversa Ride 360 in March 2023. This specially designed smartphone app and website empower parents to track their child's bus location in real time, access details about the child's bus routes, and receive alerts about any delays or changes. Additionally, the technology allows bus drivers to use tablets to verify the presence of every student, ensuring they board and disembark at the correct stops.

Major companies operating in the school and employee bus services market report are FirstGroup PLC, National Express Group, Student Transportation Inc., Transdev, North America Central School Bus, Cook-Illinois Corporation, Riteway Bus Service, Inc., WE Transport Inc., Krapf Group, Birnie Bus Service Inc., Energos Services India Pvt. Ltd., School Transport Services, Xiaoche001, Charter House, Didi Chuxing Technology Co., Takao Transport Service Co. Ltd., The Coach People, MK Chauffeur Drive, Grupo CHAPÍN, Budapesti Közlekedési Központ (BKK), Zagrebački električni tramvaj, GSP Belgrade, First Student, Royal Coach Tours, StorerCoachways, Transportation Charter Services, DATTCO Inc., The Free Enterprise System, Northfield Lines, Arrow Stage Lines, Rohrer Bus, All Board School Transportation, GOGO Charters, Pássaro Marron, Viação Águia Branca, Auto Viação Catarinense, São Geraldo & Gontijo, Autotransportes Andesmar S.A., Nueva Chevallier S.A., Autobuses Santa Fe S.R.L., Transportes Automotores Chevallier S.A., Velocity School Buses Transportation, Emirates Transport Center of School Transport, Dubai Taxi Corporation, Yellow Bus Ghana, Ashflex School Bus Services Limited, Golden Arrow Bus Services, Rea Vaya, PUTCO, Intercape, Rainbow Coaches, Stabus AMKE.

Asia-Pacific was the largest region in the school and employee bus services market in 2023. Western Europe was the second largest region in the school and employee bus services market. The regions covered in the school and employee bus services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the school and employee bus services market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The school and employee bus services market includes revenues earned by entities by providing transportation facilities for employees and students on a regular basis to pick up and drop off, saving time. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The primary categories within the school and employee bus service markets include student bus services and employee bus services. Student bus services involve the provision of buses and motor vehicles dedicated to transporting students to and from school. The market is further divided based on ownership into company-owned transportation services, outsourced transportation services, rentals, and pick-and-drop transportation services. Additionally, the segmentation by service type includes mobility as a service (MaaS) and software as a service (SaaS).

The school and employee bus services market research report is one of a series of new reports that provides school and employee bus services market statistics, including school and employee bus services industry global market size, regional shares, competitors with a school and employee bus services market share, detailed school and employee bus services market segments, market trends and opportunities, and any further data you may need to thrive in the school and employee bus services industry. This school and employee bus services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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