Press release
Buses And Coaches Market is Expected to Grow to $60.25 billion in 2028 at a CAGR of 6.1% within Forecast Period 2024-2033 | Key Players: Mercedes-Benz Group AG (formerly Daimler AG), Volkswagen AG, CNH, INDUSTRIAL N.V. (IVECO subsidiary of CNH Industrial)
Buses And Coaches Market Report
The Business Research Company offers in-depth market insights through Buses And Coaches Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The buses and coaches market size has grown strongly in recent years. It will grow from $44.89 billion in 2023 to $47.52 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to emerging markets growth, low interest rate environment, rapid urbanization and technological advancements across the market.
The buses and coaches market size is expected to see strong growth in the next few years. It will grow to $60.25 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to emphasis on cutting carbon emissions, the rise in demand for mini-buses and coaches and favorable government initiatives. Major trends in the forecast period include focusing on the electrification of vehicles to improve energy efficiency, adopting driverless technology, adopting predictive maintenance solutions in vehicles to reduce breakdowns, investing in 3d printing technology to enhance the manufacturing process and investing in hybrid drive systems.
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Market Segmentation:
The buses and coaches market covered in this report is segmented -
1) By Fuel Type: Diesel, Electric, Hybrid, Other Fuel Types
2) By Body Built: Fully Built, Customizable
3) By Application: General Transit, Personal And Recreational, Tourist, Other Applications
Major Driver - The Surging Demand For Bus Travel Fueling Growth In The Bus And Coach Market
The increasing demand for travel by bus is expected to drive the growth of the bus and coach market over the forecast period. 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 bus and coach market.
Competitive Landscape:
Major companies operating in the buses and coaches market report are Mercedes-Benz Group AG (formerly Daimler AG), Volkswagen AG, CNH, INDUSTRIAL N.V. (IVECO subsidiary of CNH Industrial), YUTONG, Volvo, Hyundai Motor Company, Xiamen King Long United Automotive Industry, Ashok Leyland, Zhongtong Bus, ANKAI, Daimler India, Bharat Benz, Mitsubishi, Fiat Chrysler Automobiles, Scania, UD Trucks Corp., Ford Motor Company, Toyota Motor Corporation, BYD Auto, Shaanxi Automobile Group, Beiqi Foton Motor Co., SAIC Motor Commercial Vehicle Co., MAN Truck & Bus SE, Irizar, Solaris, VDL, Gaz Group, NefAZ (KAMAZ affiliate), UAZ, Elegantbus, Cento Bus, Bus Factory, Pacific Tur, Lux Bus America, Vamoose Bus, Enel X Brazil, PSA, Temsa, Hafilat, Karsan, Otokar, Tata Motors, Cania AB
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Top Trend - The Surge Of Autonomous Buses Is A Pivotal Trend In The Bus And Coach Market
The autonomous bus is a key trend gaining popularity in the bus and coach market. The number of autonomous bus pilots is growing, and many manufacturers have already confirmed the introduction of autonomous bus deliveries In September 2021, Volvo Buses announced testing autonomous driver support, a new concept involving a system that assists the driver when approaching and stopping at bus stops, requiring high precision and safety.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Buses And Coaches Market Characteristics
3. Buses And Coaches Market Trends And Strategies
4. Buses And Coaches Market - Macro Economic Scenario
5. Buses And Coaches Market Size And Growth
…..
27. Buses And Coaches Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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