Press Release

Global Bus Market to Surpass $ 52 Billion by 2022

Growing population and rising urbanization coupled with increasing demand for electric & CNG buses to drive global bus market through 2022 

According to TechSci Research report, “Global Bus Market By Application, By Length, By Seating Capacity, By Fuel Type, By Body Type, By Region, Competition Forecast & Opportunities, 2012 – 2022”, global bus market is projected to cross $ 52 billion by the end of 2022. Backed by rising sales of buses across the globe, growing population and increasing inclination of people towards public transportation systems, demand for buses is expected to grow at a rapid pace during forecast period. Moreover, growing presence of companies such as Daimler AG, Volvo and Tata Motors and their continued research & development efforts to manufacture technologically advanced buses is anticipated to boost the global bus market during the next five years.

Asia-Pacific dominated the global bus market in 2016 and the same trend is anticipated during the next five years as well, owing to increasing demand for transportation from growing population and worsening traffic congestion scenario. Moreover, growing penetration of Chinese players such as Xiamen Golden Dragon Bus Co. Bus Co., Zhengzhou Yutong Bus Co. Ltd., Bus Co., Ltd., Xiamen King Long United Automotive Industry Co. Ltd., Anhui Ankai Automobile Co., Ltd., etc., on a global level is anticipated to positively influence the global bus market during forecast period

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“Increasing population and urbanization is compelling governments of various countries to enhance their public transportation system. Moreover, growing government initiatives to support the adoption of emission-free electric buses in comparison to conventional diesel buses would support the growth of global bus market in the future years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Bus Market By Application, By Length, By Seating Capacity, By Fuel Type, By Body Type, By Region, Competition Forecast & Opportunities, 2012 – 2022 has analyzed the potential of bus market across the globe, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.

About TechSci Research

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