What is Bus (All Segments) Market?
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.
The market study is being classified by Type (Bi-articulated, Articulated, Standard, Midi and Mini), by Application (Public Transport, School Transport, Tourism, Logistics and Others) and major geographies with country level break-up. According to AMA, the Global Bus (All Segments) market is expected to see growth rate of 8.1%
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) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Zhongtong Bus Holding Co., Ltd. (China), Xiamen King Long Motor Group Co., Ltd. (China), Dongfeng Motor Corporation (China), Beiqi Foton Motor Co., Ltd. (China), Yangzhou Asiastar Bus (China) and Liaoning SG Automotive Group (China).
Global bus market is fragmented and it has been observed that most of the manufacturers depend on the various regional dealers for the sales of their products. The manufacturers rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share. Also the increase in investments by governments in the bus industry is expected to drive the market demand.
Analyst at AMA have segmented the market study of Global Bus (All Segments) market by Type, Application and Region.
On the basis of geography, the market of Bus (All Segments) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Government Investment In Public Transportation Networks
- Expansion Of The Global Tourism And Private Transportation Industries
- Growing Demand For Buses Used To Transport Students
- Trend for Alternate Energy Powertrains
- High Initial Purchase Cost of Buses
- Demand for Heavy-Duty Buses in Middle East, Africa, Eastern Europe Region
- Increasing Adoption of Electric Buses
- Increasing Global Population And Rising Traffic Congestion Problems
- Lifespan of Approximately 6-7 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.
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.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Bus Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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