Industry Background:
In all regions globally, buses remain the most widespread public transport mode. The demand for buses goes hand in hand with several, mostly region-specific factors, including demographics, increasing mobility of people and environmental awareness, and public funding. Buses are widely used as the cheap transportation mode in developing countries including India, China, and Japan as well as in developed economies such as in the United States, Germany, and the United Kingdom. Since buses do not necessarily require any implementation of a specific infrastructure they are ready to use once brought on the roads. Hence, buses are the ideal vehicles for both short- and long-distance services. The use of buses for commercial or personal purposes has increased. The largest sales of buses are seen in the Asia-Pacific region and this pace of regional growth is expected to accelerate throughout the forecast period. The demand for articulated buses in metropolitan services is expected to boost market growth in coming years.
According to AMA, the market for Bus (All Segments) is expected to register a CAGR of 8.1% during the forecast period to 2026. This growth is primarily driven by Increasing Government Investment In Public Transportation Networks, Expansion Of The Global Tourism And Private Transportation Industries and Growing Demand For Buses Used To Transport Students.
Globally, a noticeable market trend is evident Trend for Alternate Energy Powertrains. The Automobiles sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Anhui Ankai Automobile Company (China), Ashok Leyland Limited (India), Daimler AG (Germany), Tata Motors Limited (India), Volvo Bus Corporation (Sweden), GAZ OAO (Russia), Hyundai Motor Company (India), Isuzu Motors (Japan), Gillig Corporation (United States), Marcopolo S.A (Brazil), Traton (Germany), Hino Motors, Ltd.(Japan), Irisbus Iveco (France) and Zhengzhou Yutong Bus Co., Ltd. (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In January 2020, Ashok Leyland signed a partnership with ABB Power Products and Systems India to develop an electric bus. The partnership enables Ashok Leyland to use ABB’s flash-charge technology TOSA that can charge the battery in just seconds while passengers get on and off the bus.
Regulatory Insights:
The buses used in various regions must follow the emission standards set by the respective government in regions. According to survey, 28% of the buses meets European emission standards Euro V.
Market Drivers
- Increasing Government Investment In Public Transportation Networks
- Expansion Of The Global Tourism And Private Transportation Industries
- Growing Demand For Buses Used To Transport Students
Market Trend
- Trend for Alternate Energy Powertrains
Restraints
- High Initial Purchase Cost of Buses
Opportunities
Demand for Heavy-Duty Buses in Middle East, Africa, Eastern Europe Region, Increasing Adoption of Electric Buses and Increasing Global Population And Rising Traffic Congestion Problems
Challenges
Lifespan of Approximately 6-7 Years
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Bus (All Segments) Study Sheds Light on
The Bus (All Segments) Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Bus (All Segments) industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Bus (All Segments) industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.