Global Scheduled Bus Transport Market, By Application (Motor Coaches, Transit Buses, and School Buses), Length (6-8 m, 9-12 m, and Above 12 m) - Industry Trends and Forecast to 2031.
Scheduled Bus Transport Market Analysis and Size
Growth in investments for research and development activities, growing awareness about the benefits of public transportation, and an upsurge in the public and private partnership for the development of automotive infrastructure will foster growth in the market value. The rising application of this advanced technology in commercial vehicles and stringent environmental regulations imposed by the government will also create lucrative growth opportunities for the market. The growing need for customized solutions for public transport vehicles, the surging rate of manufacturing of commercial and passenger vehicles, the rising prevalence of intelligent transport systems, and the increasing passenger population will also foster market growth.
The global scheduled bus transport market was valued at USD 3.2 billion in 2023 and is expected to reach USD 5.1 billion by 2031, registering a CAGR of 5.1% during the forecast period of 2024-2031. The motor coaches segment is anticipated to register a considerable CAGR during the forecast period as the rising demand for public transportation. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2023
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Historic Years
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2022 (Customizable 2016 - 2021)
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Quantitative Units
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Revenue in USD billion,
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Segments Covered
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By Application (Motor Coaches, Transit Buses, and School Buses), Length (6-8 m, 9-12 m, and Above 12 m)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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YUTONG (U.S.), AB Volvo (U.S.), Scania (U.S.), Tata Motors (India), and Hino Motors, Ltd (U.S.)
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Market Opportunities
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Market Definition
Bus Scheduling is a series of processes and complex mathematical equations that combines critical bus planning elements, including bus stops, routes, timetables, vehicle blocks, and driver shifts in an efficient, contract-compliant, and cost-effective manner that meets customer needs. Tricky to write and even harder to get right in practice.
Scheduled Bus Transport Market Dynamics
- Increasing demand in automotive and transportation
There is a high demand for buses in the automotive and transportation sectors. Scheduled buses are majorly preferred in the automotive and transportation sector as they work on batteries, conventional vehicles work on fuel, and fuel prices are increasing daily. Therefore, this rises the demand for public transport across the region.
- Increasing Demand for Public Transit in Megacities to Aid Growth
In recent decades, there has been a rapid increase in the movement of people into urban areas and the growth of urban and metropolitan areas. According to the data compiled by the United Nations, around 55 percent of the world population lived in urban regions in 2018. It is anticipated that this percentage will increase to 60% by 2030. Furthermore, numerous governments are constructing bus rapid transit, metro, monorail, and light rail transit systems to meet the demand for public transportation in megacities. As a result, more people use public transportation, causing the market to grow.
Opportunities
- Rise in Government Initiatives
Governments are putting more emphasis on creating smart cities. Governments worldwide are regulating the installation of factory-fitted telematics and safety systems in automobiles as a result of rising road safety concerns, and rising auto thefts is further anticipated to propel the market's growth.
Restraint/Challenge
- High Cost of Sensor Technology Required in the Bus Scheduling Process
. Developing and manufacturing advanced sensors often involves complex processes, sophisticated materials, and advanced technologies, which can drive up production costs. This high cost can limit the affordability and accessibility of sensors, particularly for price-sensitive industries or emerging markets.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Scheduled Bus Transport Market Scope
The scheduled bus transport market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- 6-8 m
- 9-12 m
- Above 12 m
Application
- Motor Coaches
- Transit Buses
- School Buses
Scheduled Bus Transport Market Region Analysis/Insights
The scheduled bus transport market is segmented on the basis of type & application. The countries covered in the report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and Rest of Middle East and Africa.
Asia-Pacific region is expected to dominate the market due to the surging demand for passenger vehicles, growing investment by the government for the development of transport infrastructure, surging focus towards the integration of passenger safety systems in both commercial and passenger vehicles, rising disposable income of the people in India and China, growing urbanization and industrialization and growth and expansion of automotive industry in this region.
Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The rise in popularity of public transport across the region
The global scheduled bus transport market also provides you with a detailed market analysis for every region’s growth for capital equipment, installed base of different kinds of products for the market, the impact of technology using lifeline curves, and changes in battery regulatory scenarios and their impact on the variable frequency drive market. The data is available for the historic period 2010-2021.
Competitive Landscape and Scheduled Bus Transport Market Share Analysis
The scheduled bus transport market is analyzed, and market size information is provided by type & application. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the scheduled bus transport market are
- YUTONG (U.S.)
- AB Volvo (U.S.)
- Scania (U.S.)
- Tata Motors (India)
- Hino Motors, Ltd (U.S.)
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