Global School Bus Market 2019-2023
About this market
The advantages of school buses over other modes of transportation is one of the critical factors that will trigger the growth of the market during the forecast period. School buses are built explicitly with the focus of providing safe transportation to school going children. Hence, these buses are fitted with the best safety equipment to secure onboard kids. School buses are designed with a primary focus on safety; therefore, they are provided with protective seating, high crush standards, and rollover protection features. Also, they are also fitted with large windows to increase visibility and comprise some other features such as flashing red lights. cross-view mirrors, and stop-sign arms. Such enhanced safety features of school buses make them the preferred choice for the transportation of students, which will enhance the growth of the global school bus market during the forecast period. Technavio’s analysts have predicted that the school bus market will register a CAGR of over 2% by 2023.
Government initiatives for promoting electric buses
The need for reducing emissions has increased the demand for alternative fuels for public transport. The decline in battery prices supports the adoption of electric school buses by governments. The increasing penetration of electric vehicles in the commercial vehicle segment has attracted the school bus segment, which is driving the global school bus market during the forecast period.
Adoption of new or improvised emission standards
One of the major factors hindering the growth of the global school bus market is the adoption of new and improved emission norms. This provides a significant challenge in developing economies such as a few countries APAC and the MEA, which are still highly dependent on diesel and gasoline-powered school buses. In most of the major school bus regional markets, the introduction of Euro VI emission standard and its country-wise equivalents are expected to be implemented during the forecast period. New or advanced technology additions in school buses result in their price hikes, which harm the growth of the global school bus market.
For the detailed list of factors that will drive and challenge the growth of the school bus market during 2019-2023, view our report.
The market appears to be moderately fragmented. The presence of several companies, including Ashok Leyland Ltd. and Blue Bird Corp., the competitive environment is quite intense. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies. Daimler AG, REV Group Inc., and Tata Motors Ltd. are some of the major companies covered in this report.
Ashok Leyland Ltd.
Blue Bird Corp.
REV Group Inc.
Tata Motors Ltd.
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