Global Articulated Bus Market 2017-2021
About Articulated Bus
Currently, the articulated bus market is in the growth stage and is witnessing a high adoption. Developed regions like Europe and North America are witnessing the adoption of articulated buses owing to the growing demand for high passenger capacity and emission control measures. In addition, articulated buses are gaining traction in emerging markets like India and China. The push for environmental-friendly vehicles led to the development of hybrid and all-electric articulated buses. These buses are witnessing a higher adoption in Europe and China.
Technavio’s analysts forecast the global articulated bus market to grow at a CAGR of 20.12% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global articulated bus market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of articulated bus.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Articulated Bus Market 2017-2021
Technavio recognizes the following companies as the key players in the global articulated bus market: Daimler, MAN, Solaris Bus & Coach, and Volvo
Other Prominent Vendors in the market are: Ashok Leyland, BYD, New Flyer, Otokar, Scania, and Tata Motors
Commenting on the report, an analyst from Technavio’s team said: “Bus transit is gaining popularity across the world as transit modes like light rail schemes require a high investment. The bus transit is seen as a cost-effective solution to address urban transport needs like comfort, reliability, accessibility, and ease of use. This is leading to the demand for high-capacity buses, particularly articulated buses. The articulated bus features more doors and a greater proportion of step-free access, which makes the articulated buses superior to their non-articulated counterparts.”
According to the report, since EVs are powered and driven by battery-powered systems, the improvement in the battery technology is one of the most important factors for the global EV market. There have been a number of improvements in the technology of battery electric vehicles, making them more desirable to the consumer. For example, advances in Li-ion batteries has made them comparatively lightweight with a long lifespan compared with conventional lead-acid and VRLA batteries.
Further, the report states that auto OEMs are subject to heavy cost pressures every day due to the dynamism in the regulatory environment and a demanding consumer base. Environment and safety standards are pressurizing OEMs to find means to comply with regulations, while not transmitting additional costs to the consumers. Controlling emissions are bound to increase the cost of the vehicle. For instance, according to National Automobile Dealers Association, the US CAFE Standards (that became effective in 2016) may hike the manufacturing cost of a vehicle by $1,000. In addition, to suit lower emission standards, OEMs are expected to develop drivetrain technologies. Also, dynamism in standards will further affect the cost of R&D and production processes. Furthermore, consumers demand advanced features at competitive prices, which adds to the cost pressure of already cost-pressurized OEMs.
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Daimler, MAN, Solaris Bus & Coach, Volvo, Ashok Leyland, BYD, New Flyer, Otokar, Scania, and Tata Motors
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