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Buses And Coaches Global Market Report 2022

Buses And Coaches Global Market Report 2022

  • May 2022
  • 175 pages
  • ID: 6277706
  • Format: PDF
  • The Business Research Company


Table of Contents

Major players in the market are Daimler, VDL Bus and Coach, Scania, Volvo, Marcopolo, Eicher Motors Limited, TATA Motors, Ashok Leyland, Solaris Bus, Coach SA, and Iveco.

The global buses and coaches market is expected to grow from $38.73 billion in 2021 to $42.34 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The market is expected to grow to $56.77 billion in 2026 at a compound annual growth rate (CAGR) of 7.6%.

The buses and coaches market consists of sales of buses and coaches and related services by entities (organizations, sole traders, and partnerships) that produce buses to transport people and goods.

The main types in the buses and coaches market are diesel buses, hybrid buses, electric buses, ethanol buses.A hybrid electric bus is a bus that together with a conventional internal combustion engine propulsion system with an electric propulsion system.

The various body-built segments include fully built, customizable. These are used in general, personal, recreational, tourist, other applications.

North America was the largest region in the buses and coaches market in 2021.Asia Pacific was the second-largest region in the buses and coaches market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.

The increasing demand to travel by bus is expected to drive the growth of the buses and coaches’ market over coming years.According to the Red Bus Creators, the bus sector in India is expanding at a rate of 30-40% year on year.

The Redbus organization is exhibiting a massive 80% growth year-on-year in India itself. Therefore, the growing demand for buses drives the growth of the buses and coaches market.

Fluctuating prices of metals such as iron and steel are expected to limit the growth of the buses and coaches market in the coming years.The automotive industry uses various structural components for bus manufacturing, including iron, steel, and other metals and fluctuating metal prices increase operational expenses.

According to Trade Economics, Iron ore, a raw material for iron manufacturing is $27 per Metric ton for the start of 2020.In March, the price of iron ore was $82, and in October price was $118.

Steel price in February 2020 was $507 (3370 Yuan) per Metric ton, and in October price was $545 (3631 Yuan) per Metric ton. Therefore, the fluctuating price of metals hinders the buses and coaches market.

The autonomous bus is a key trend gaining popularity in the buses and coaches market.The number of autonomous bus pilots is growing, and many manufacturers have already confirmed the introduction of autonomous bus deliveries within a few years from 2019.

In November 2019, Volvo Buses conducted a live presentation of a 7900 Hybrid City Bus designed for autonomous operation. The vehicle successfully traveled between the parking lot and several workstations, including washing, repair, and electrical charging, before parking in the correct spot, with all travelers onboard.

In May 2019, NFI Group, a North American-based bus manufacturer acquired the UK-based bus manufacturer Alexander Dennis Limited (ADL) for a deal amount of $405 million (£320 million).The acquisition enhances the NFI product portfolio, diversifies its business model, and provides a platform for international development.

Alexander Dennis Limited (ADL) is a bus and coach manufacturer and has vehicle services in the UK, Europe, Hong Kong, Singapore, New Zealand, Mexico, Canada, the United States sold under Alexander Dennis and Plaxton brands.

The countries in the buses and coaches market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA.

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