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World Buses Market
World Buses Market
- Report price : $ 5 600
- Publication date : January 2008
World Buses Market
Global bus demand to grow 5.4% per year through 2012
Worldwide demand for buses will advance 5.4 percent annually to 437,000 vehicles in 2012 on the strength of significant increases in the price of fuel worldwide. Demand for buses traditionally tends to be cyclical and dependent on region-specific trends, such as demographics, income levels, relative spending levels on mass transit systems, per-capita passenger vehicle density, and others. However, with the dramatic rise in fuel prices experienced in 2007 and 2008, the market has achieved a new footing, as commuters in even vehicle-saturated markets such as the United States increasingly choose mass transit over driving themselves. Buses represent one of the most cost-effective methods for transporting passengers, and with ridership rising as much as 30 percent year-on-year in some bus transit systems, demand will increase as transit authorities, motor coach lines and other bus operators place orders to augment their current fleets.
Other forces that will support bus demand include rising congestion levels in major metropolitan centers worldwide, the establishment of dedicated bus rapid transit systems and “bus ways” in key cities in Latin America and the Asia/ Pacific region, and the general economic expansions taking place in emerging markets that require workers to travel further to reach jobs. Bus travel is becoming more of a necessity for urban travelers worldwide as governments enforce limits on the use of personal vehicles (both cars and motorcycles) to reduce pollution and congestion levels.
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