Self-driving buses are a key trend that is growing in popularity
DUBLIN, June 15, 2021 / PRNewswire / – The report “Buuses and Coaches Global Market Report 2021: COVID-19 Impact and Recovery to 2030” has been added to ResearchAndMarkets.com offer.
The global market for buses and coaches is expected to grow by $ 76.7 billion in 2020 at $ 87.46 billion in 2021 at a compound annual growth rate (CAGR) of 14%
The Global Bus and Coach Market 2021: Impact and Recovery of COVID-19 to 2030 report provides strategists, marketers and senior management with the essential information they need to assess the global bus market. and coaches coming out of the COVID-19 shutdown.
The main players in the bus and coach market are Daimler, VDL Bus and Coach, Scania, Volvo, Marcopolo, Eicher Motors Limited, TATA Motors, Ashok Leyland, Solaris Bus and Coach SA and IVECO.
The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges.
The market is expected to reach $ 149.91 billion in 2025 at a CAGR of 14.4%.
The bus and coach market includes sales of buses and coaches and related services by entities (organizations, sole proprietorships and partnerships) that produce buses for the transport of people and goods.
The autonomous bus is a key trend that is gaining popularity in the bus and coach market. The number of autonomous bus pilots is increasing and many manufacturers have already confirmed the introduction of autonomous bus deliveries within a few years from 2019.
In November 2019, Volvo Buses presented live a 7900 hybrid city bus designed for autonomous operation. The vehicle traveled successfully between the parking lot and several workstations, including washing, repairing and electric charging, before parking in the right place, with all travelers on board.
The bus and coach market is segmented by type into diesel bus, hybrid bus, electric bus, ethanol bus and by application into general, personal, recreational, tourist bus etc.
In May 2019, NFI Group, a North American-based bus manufacturer has acquired UK-based bus manufacturer Alexander Dennis Limited (ADL) for a consideration of $ 405 million (£ 320million). The acquisition enhances NFI’s product portfolio, diversifies its business model and provides a platform for international development. Alexander Dennis Limited (ADL) is a manufacturer of buses and coaches and provides vehicle services in the UK, Europe, Hong Kong, Singapore, New Zealand, Mexico, Canada, United States sold under Alexandre denis and the Plaxton brands.
The growing demand for bus travel is expected to drive the growth of the bus and coach market over the next few years. According to the Red Bus Creators, the bus industry in India is growing at a rate of 30 to 40% year over year. Redbus organization shows massive 80% year-over-year growth in India himself. Hence, the increasing demand for buses is driving the growth of the bus and coach market.
Fluctuating prices of metals such as iron and steel are expected to limit the growth of the bus and coach market in the coming years. The automotive industry uses various structural components in the manufacture of buses, including iron, steel, and other metals, and fluctuating metal prices increase operating expenses.
According to Trade Economics, iron ore, a raw material for making iron, is $ 27 per metric ton for the beginning of 2020. In March, the price of iron ore was $ 82, and in October the price was $ 118. Steel price in February 2020 has been $ 507 (3370 Yuan) per metric ton, and in October the price was $ 545 (3631 Yuan) per metric ton. Therefore, fluctuating metal prices hamper the market for buses and coaches.
Main topics covered:
2. Characteristics of the bus and coach market
3. Bus and Coach Market Trends and Strategies
4. Impact of COVID-19 on buses and coaches
5. Size and growth of the bus and coach market
5.1. Historical global bus and coach market, 2015-2020, in billions of dollars
5.1.1. Market drivers
5.1.2. Market constraints
5.2. Global Bus and Coach Forecast Market, 2020-2025F, 2030F, in USD Billion
6. Segmentation of the bus and coach market
6.1. Global Bus and Coach Market, Segmentation by Type, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
- Diesel bus
- Hybrid buses
- Electric buses
- Ethanol buses
6.2. Global Bus and Coach Market, Segmentation by Application, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
6.3. Global Bus and Coach Market, Body Segmentation, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
7. Regional and national analysis of the bus and coach market
7.1. Global bus and coach market, divided by region, historical and forecast, 2015-2020, 2020-2025F, 2030F, in billions of dollars
7.2. Global bus and coach market, divided by country, historical and forecast, 2015-2020, 2020-2025F, 2030F, in billions of dollars
- VDL buses and coaches
- Marco polo
- Eicher Motors Limited
- TATA Engines
- Ashok Leyland
- Solaris Bus and Autocar SA
- Hyundai Motor Company
- Zhengzhou Yutong Bus
- Alexandre denis
- Xiamen King Long United Automobile
- Zhengzhou Yutong Bus Co. Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/onz0y0
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