Bus Market Size 2022-2027: Global Industry Trends, Growth, Share and Forecast

According to the latest report by IMARC Group, titled “Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global bus market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global bus market reached a value of US$ 43.84 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 68.79 Billion by 2027, exhibiting a CAGR of 7.20% during 2022-2027.

A bus is a large motor vehicle designed to transport passengers from one location to another through a fixed route. Some commonly available buses are single deck, double-decker, articulated, electric, and transit buses. Buses are the most preferred type of public transport as they reduce pollution and road congestion, save time, and are cost-effective.

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Important Attribute and highlights of the Report:

  • Detailed analysis of the global market share
  • Market Segmentation by type, fuel type, seat capacity, application and region.
  • Historical, current, and projected size of the market in terms of volume and value
  • Latest industry trends and developments
  • Competitive Landscape for bus market
  • Strategies of major players and product offerings

The market is primarily driven by the rising awareness among individuals regarding the environmental changes caused due to global warming. In addition, the inflating fuel prices are prompting the masses to utilize public transportation for their daily activities. Moreover, there has also been an escalating demand for public transportation systems, especially in developing economies, due to the rising population, which is contributing to market growth.

Apart from this, the introduction of smart traffic lights (STL) management systems to decrease road congestion is creating a positive market outlook across the globe. Furthermore, governments of numerous countries are encouraging the adoption of electric buses to reduce the emissions of greenhouse (GHGs) gases, which is also providing a favorable thrust to the market growth. Other major growth-inducing factors include the introduction of concessionary travel bus passes, the rising automation in the transportation industry, rapid urbanization, and the increasing utilization of big data to optimize routes.

Key Players Included in Global Research Report:

  • AB Volvo
  • Anhui Ankai Automobile Co. Ltd.
  • Ashok Leyland (Hinduja Group)
  • BYD Company Ltd.
  • IVECO S.p.A
  • Mercedes-Benz Group AG
  • NFI Group
  • Solaris Bus & Coach sp. z o.o. (Construcciones y Auxiliar de Ferrocarriles S.A.)
  • Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.,
  • Tata Motors Limited
  • Traton Group (Volkswagen AG)
  • Xiamen King Long United Automotive Industry Co. Ltd.
  • Zhengzhou Yutong Bus Co. Ltd.

Do you know more information, Contact to our analyst at– https://www.imarcgroup.com/bus-market

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Segmentation:

Breakup by type:

  • Single Deck
  • Double Deck

Breakup by Fuel Type:

  • Diesel
  • Electric and Hybrid
  • Others

Breakup by Seat Capacity:

  • 15-30 Seats
  • 31-50 Seats
  • More than 50 Seats

Breakup by Application:

  • Transit Bus
  • Intercity/Coaches
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

TOC for the Bus Market Research Report:

  • Preface
  • Scope and Methodology
  • Executive Summary
  • Introduction
  • Global Bus Market
  • SWOT Analysis
  • Value Chain Analysis
  • Price Analysis
  • Competitive Landscape

Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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