December 03, 2019
According to the research report titled ‘Global Bus Fleet Market: Analysis By Type (Inter City Bus, School Bus, Others), By Region, By Country: Opportunities and Forecast (2012-2022) -- By Region (North America, Europe, APAC, ROW), By Country (U.S., Canada, Germany, U.K., China, India, Saudi Arabia, UAE, Oman Qatar, Kuwait, Bahrain, Algeria, Morocco, Egypt , Brazil)’ available at MarketStudyReport.com, the global bus fleet market is estimated to grow with a CAGR of 7.38% during the period of 2017-2022.
Budding technological advancements in electrification coupled with shifting preference towards electric vehicles among consumers are major factors driving the growth of bus fleet market for the forecast period. Favorable federal reforms to use energy efficient engines and growing environment concerns are augmenting the demand for public transport across the globe. Moreover, growing inclination of bus manufacturers to build cost effective and inexpensive electric-hybrid buses is aiding the industrial outlook. Surging consumer need for high capacity buses with less noise and low floor is also fueling the growth of bus fleet market.
The report provides comprehensive insight regarding the market dynamics including trends, challenges, and drivers. It analyzes the regulatory landscape and growth opportunities prevailing in bus fleet market. Strategic recommendations for business expansion which can be beneficial for manufacturers are enlisted in the report.
As per product type, bus fleet market is categorized into school bus, inter-city bus, and others. Considering the geographical landscape, the global bus fleet market is divided into regions namely, Europe, North America, Asia-Pacific, and rest of the world, with primary focus on countries such as Canada, US, UK, Germany, India, China, UAE, Saudi Arabia, Qatar, Oman, Bahrain, Kuwait, Morocco, Algeria, Egypt, and Brazil.
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The report cites that Asia-Pacific bus fleet market held the largest regional share in 2016, owing to increasing production of automobiles, growing industrialization, and surging adoption of electric vehicles across the emerging economies of India and China.
The prominent companies operating in bus fleet market are Scania AB, Volvo Group, Tata Motors, Baoding Changan Bus Manufacturing Co. Ltd., Ashok Leyland, Daimler Group, MAN Group, KingLong, VDL Bus & Coach BV, and Zhengzhou Yutong Group Co.
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