Rising tourism, increasing population, growing transport infrastructure and technological advancements to boost global bus market
According to TechSci Research report, “Global Bus Market By Application, By Length, By Seating Capacity, By Fuel Type, By Body Type, By Region, Competition Forecast & Opportunities, 2015 – 2025F”, the global bus market is projected to reach $ 69 billion by 2025 due to growing road and transport infrastructure, rising population and increasing demand for electric buses. Other major factors driving the bus market include government initiatives for better road infrastructure and increase in vehicle production in major developing countries. Additionally, with the launch of new models in the electric segment and upgradations in the government policies, it is expected that higher penetration of electric buses across the globe would be witnessed during the forecast period.
Browse 330 market data Figures and Tables spread through 500 Pages and an in-depth TOC on "Global Bus Market"
Global bus market is segmented in terms of seating capacity, fuel type, application type, length, built type and region. In terms of seating classification, the market can be segmented into up to 30 seater, 31 to 40 seater and above 40 seater buses, of which, the above 40 seater bus category accounted for the largest market share in 2019 and the vehicle segment is expected to maintain its leading market position during the forecast period.
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Zhenzhou Yutong Group, Volvo, Scania, TATA Motors Limited, Isuzu, Hino Motors, MAN, Marcopolo SA, Daimler AG, Iveco, Ashok Leyland, etc., are few of the leading players operating in the global bus market. Major bus companies are expanding their manufacturing bases in developing countries in order to meet rising demand across developing countries in APAC, Middle East, Africa and South America.
“In the wake rising air pollution levels, governments are encouraging consumers to opt for electric buses rather than those which run on fossil fuels. To safeguard the environment and promote clean driving, governments across various countries are offering incentives to the electric bus buyers and also exempting these vehicles from various taxes, which is anticipated to fuel the bus market over the next few years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Bus Market By Application, By Length, By Seating Capacity, By Fuel Type, By Body Type, By Region, Competition Forecast & Opportunities, 2015 – 2025F” has evaluated the future growth potential of the global bus market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global bus market.
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