Bharat Book Bureau Provides the Trending Market Research Report on “Global Bus Market Report and Forecast 2022-2027” under Automotive Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
Bus Market Outlook
According to Expert Market Research’s latest report, ‘Global Bus Market Report and Forecast 2022-2027’, the global bus market attained a value of about USD 45.4 billion in 2021. Aided by technological advancements in the bus transportation system, the market is projected to further grow at a CAGR of 7.4% between 2022 and 2027 to reach a value of USD 67.3 billion by 2027.
Bus, a four-wheeler hefty motor vehicle, is designed to carry a greater number of passengers as compared to cars or vans. A bus can accommodate between 50-60 people at once. Buses are extensively used in the urban areas for purposes such as school transportation, tourism, and scheduled transportation services, among others. These services are affordable and serve as an integral part of public transportation system.
The increased development of bus rapid transit system (BRT), which consists of smart public transit systems, public information systems, terminals, fare collection systems, and automated lanes, among others, to facilitate efficient, cost-effective, and flexible urban mobility services and provide sophisticated transport solutions is aiding the market growth.
The technological advancements in the bus transportation system, equipping it with useful features such as free Wi-Fi, personal power outlets, HVAC, reclining leather seats, extra legroom, on-board restrooms, and use of eco-friendly components are driving the market growth. Meanwhile, the stringent regulations by the government to curb the emission of toxic gases by diesel and petrol cars are encouraging the deployment of buses on roads.
In addition, the growing awareness pertaining to the greater cost-savings and hassle-free ride offered by buses is anticipated to boost the demand for bus services. Moreover, buses are a boon to the transit advertising industry as it can spread awareness about the product to a significant amount of population just by travelling through its routes. Furthermore, the market is anticipated to be aided by the online bus booking facility which allows the user to confirm bus travel via smartphone or other smart gadgets. This bolsters the convenience of the commuter, making the ride quick and cost-effective.
Market Segmentation
The market report by Expert Market Research analyses the market based on segmentations such as type, application, fuel type, seat capacity, and major region.
Market Breakup by Type
•Single Deck
•Double Deck
Market Segmentation by Application
•Transit Bus
•Intercity/Coaches
•Others
Market Classification by Fuel Type
•Diesel
•Electric and Hybrid
•Others
Market Breakup by Seat Capacity
•15-30 Seats
•31-50 Seats
•More than 50 Seat
Market Breakup by Region
•North America
•Europe
•Asia Pacific
•Latin America
•Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the key players in the industry. Some of the major players in the market explored in the Expert Market Research report are:
•Anhui Ankai Automobile Company
•Daimler Truck Holding AG
•NFI Group Inc.
•AB Volvo
•Solaris Bus & Coach sp. z o.o.
•Others
Browse our full report with Table of Content :
https://www.bharatbook.com/report/1343841/global-bus-market-reportand-forecast
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