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Bus Market Share, Size 2019-2024 | Industry Analysis, Overview of Market Dynamics, Top Key Players, and Regional Forecast to 2024

Bus

The “Bus Market” report 2019 covers all the significant developments which are recently being adopted across the global market. The prime objective of Bus market report is to provides an in-depth analysis of all market dynamics including drivers and restraints, and trends and opportunities. The Bus market report covers both the demand and supply aspect of the market. The report also highlighted the future trends in the Bus market that will impact the demand during the forecast period.

Scope of the Report:

  • The bus market is segmented by type, application, and fuel type.

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    Market Overview:

  • The bus market (henceforth, referred to as the market studied) is expected to reach USD 72.43 billion by 2024, projecting a CAGR of 7.58%, during the forecast period (2019 – 2024). The total bus stock in 2017 amounted to 17.2 million units.
  • – The prevailing concern over pollution caused, especially, by automobiles, has forced governments in many countries to take drastic measures to keep pollution in check. The Asia-Pacific region is leading the global electric bus market, due to increased government initiatives in countries, such as India, China, and Japan.
  • – The rise in government initiatives for improving the public transportation networks, particularly bus rapid transit systems, to reduce traffic congestion and improve air quality, is another trend. Additionally, many new private transportation companies are entering the market with the concept of green transportation, with electric, hybrid, compressed natural gas (CNG), and liquefied natural gas (LNG) models, as many countries are adopting more stringent emission standards and environmental regulations.
  • – Another factor, which is driving the demand for bus, is “On-demand Bus”. Over the last decade, the growth in the taxi and private hire vehicles market and a high personal ownership of cars, coupled with high demand for convenience, have been challenging public transit. With the advent of on-demand ride-hailing and taxi services, this trend gained further traction and the e-hailing market witnessed a significant growth, in terms of demand and supply.

    Some of the Top Key Players of Bus Market Report Are:

  • Anhui Ankai Automobile Company
  • Daimler AG
  • Alexander Dennis
  • Volvo
  • Solaris Bus
  • Tata Motors
  • Ashok Leyland
  • Traton (Scania, MAN, etc.)
  • Zhengzhou Yutong Bus Co. Ltd
  • Xiamen King Long United Automotive Industry

    Report Highlights:

    • Market Dynamics – Drivers, Restraints, and Opportunities
    • Market Segmentation – Types, Applications, Regions, and Technology
    • Market Trends
    • Competitive Landscape
    • SWOT Analysis and Porter’s Five Forces Analysis

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    Key Market Trends:

    The Transit Bus Segment is Expected to Witness the Fastest Growth in the Coming Years

    The transit bus segment of the market studied was valued at USD 29.69 billion in 2018, and it is expected to project a CAGR of 8.78%, during the forecast period.

    A transit bus is a type of bus used for shorter-distance routes within metropolitan cities and other urban areas by public transport service providers. These buses are also used by private transport companies on a public contract or fully independent basis. Almost half of the world’s population lives in cities, which makes optimized public transport a top priority for local and national governments. Working professionals and common public in the developing economies depend on transit systems to cater to their transportation needs, in turn, driving the demand for these buses.

    Transit buses running on diesel and other fossil fuels have been a major cause of pollution in cities across the world. Therefore, the market for transit buses is witnessing a paradigm shift toward electric buses. This shift is supported by many governments for tackling environmental issues.

    In 2015, the Chinese government began subsidizing the purchase of electric buses, encouraging transit systems to replace their diesel, CNG, LNG, and gasoline transit buses. Owing to this, sales of battery-powered models in the country increased dramatically. As of December 2018, China is the largest market for transit electric buses. In December 2018, the California Air Resources Board (CARB) voted on a regulation for transition to 100% zero-emission bus fleets by 2040. Programs like these are expected to become major drivers for the transit bus segment of the market studied over the forecast period.

    Europe is Expected to Witness the Second-fastest Growth Rate

    The European region is expected to witness the second-fastest CAGR of 7.50%, during the forecast period.

    In Europe, in 2018, the United Kingdom dominated the market and accounted for 20.22% share of the total market, followed by Germany, France, and Spain. In the United Kingdom, buses are the most frequently used mode of transport. In 2017, 4.4 billion bus trips were made across England, and buses accounted for approximately 59% of all public transport trips in Great Britain, compared to 21% by rail.

    Local bus passenger journeys have been continually declining in London, English metropolitan areas, English non-metropolitan areas, England, Scotland, Wales, and Great Britain. The prime reason is the steep decline in travel on local government funded bus and privatization of buses (as bus operators can decide the routes they want to travel), which resulted in sparse services. However, owing to rise in pollution, and to reduce reliance on oil and dependence on oil producing countries, the country has been focusing on e-mobility. Moreover, clean air zones have been introduced in many cities of the United Kingdom, and commuters are deterred by the congestion and high parking costs, which in turn, is propelling the need for clean and efficient bus service in the country.

    In Europe, the United Kingdom has the most number of electric buses, with hybrid electric buses currently running in many British cities, representing 18% of the Europe’s entire fleet. The electrification of the country’s road transport is still in its nascent stage, but the falling costs are expected to drive the growth of the market.

    The Report Covers:

    • Comprehensive research methodology of Bus market
    • In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
    • Analysis of regional regulations and other government policies impacting the global sleep aid market
    • Insights about market determinants which are stimulating the global Bus market
    • Detailed and extensive market segments with regional distribution of forecasted revenues
    • Extensive profiles and recent developments of market players Companies Mentioned

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    Detailed TOC of Bus Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.4 Market Restraints
    4.5 Industry Attractiveness – Porter’s Five Forces Analysis
    4.5.1 Threat of New Entrants
    4.5.2 Bargaining Power of Buyers/Consumers
    4.5.3 Bargaining Power of Suppliers
    4.5.4 Threat of Substitute Products
    4.5.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Single Deck
    5.1.2 Double Deck
    5.2 By Application
    5.2.1 Transit Bus
    5.2.2 Intercity/Coaches
    5.2.3 Other Applications (School Bus, etc.)
    5.3 By Fuel Type
    5.3.1 Diesel
    5.3.2 Electric and Hybrid
    5.3.3 Other Fuel Types (CNG, Biofuel, etc.)
    5.4 Geography
    5.4.1 North America
    5.4.1.1 US
    5.4.1.2 Canada
    5.4.1.3 Mexico
    5.4.2 Europe
    5.4.2.1 UK
    5.4.2.2 Germany
    5.4.2.3 France
    5.4.2.4 Spain
    5.4.2.5 Italy
    5.4.2.6 Rest of Europe
    5.4.3 Asia-Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 South Korea
    5.4.3.5 Rest of Asia-Pacific
    5.4.4 Rest of the World
    5.4.4.1 South America
    5.4.4.2 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Vendor Market Share
    6.2 Mergers and Acquisitions
    6.3 Company Profiles
    6.3.1 Anhui Ankai Automobile Company
    6.3.2 Daimler AG
    6.3.3 Alexander Dennis
    6.3.4 Volvo
    6.3.5 Solaris Bus
    6.3.6 Tata Motors
    6.3.7 Ashok Leyland
    6.3.8 Traton (Scania, MAN, etc.)
    6.3.9 Zhengzhou Yutong Bus Co. Ltd
    6.3.10 Xiamen King Long United Automotive Industry

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

    8 DISCLAIMER

     

    Contact Us:

    Name: Ajay More

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    Email: [email protected]

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