Thursday, February 9, 2023

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Automotive, Transportation and Warehousing Automotive and Automotive Components Rise in Requirement of Affordable & Reliable Public Transportation Expected to Drive...

Rise in Requirement of Affordable & Reliable Public Transportation Expected to Drive Global Small Bus Market: Ken Research

Small bus is a passenger transport motor vehicle, designed to carry more people than a minivan and fewer people than a full-size bus. It is a multi-purpose motor vehicle with 9 to 30 people. It is used for a variety of reasons. In a public transport role, it can be used as airport buses, fixed route transit buses, share taxis or large taxicabs and flexible demand responsive transport vehicles. Accessible small buses can also be used for para-transit type services, by transit operators, local authorities, hospitals or charities. Private uses of minibuses can include charter buses, corporate transport and tour buses. Additionally, sports clubs, schools, community groups & charities may also use these buses for private transport.

According to study, “Global Small Bus Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global small bus market are Ford Motor Co, Toyota Motor Corporation, Fiat, Marcopolo S.A., Daimler AG, Woodall Nicholson Limited (Mellor Coachcraft), Renault SA, Carrocera Arbuciense SA (Indcar), Iveco S.p.A, Unidad de Vehículos Industriales, SA, Peugeot SA, Integralia Movilidad S.L., MAN Truck & Bus, CaetanoBus, Mussa & Graziano srl, Sitcar Italia Srl, Al Fahim Group (Erduman Automotive), Carrocerias Ferqui Sl, Komvek Karoser Limited Sirketi, Car-bus.net, Otokar Otomotiv ve Savunma Sanayi AS, Brian Noone Limited, BARBI COACH & BUS srl, Dypety Srl, Feniksbus D.O.O., Rosero – P S.R.O., Irmaos Mota, AS DOMŽALE D.O.O., Auto-CUBY Sp. z o.o., D’Auria Group. The key vendors are increasingly focusing on bringing new technologies to ensure the efficiency & safety of buses. For instance, the market recently observed the introduction of passenger management systems which assistance in monitoring both the school children as well as the vehicle. Key players are also launching technological platforms that offer vehicle diagnostics on a real-time basis to increase the reliability of these vehicles. The introduction of these innovations is expected to create a positive impact on the global market during the forecast period.

Based on body type, small bus market is segmented into van conversions, purpose build and body build. Purpose build segment holds major share in market owing to its cost-effective price range and higher degree of customizability. Based on fuel type, market is segmented into electric & hybrid buses, diesel buses, CNG/LNG buses, conventional v/s alternative fuel buses and gasoline buses. Based on seating capacity, market is segmented into 9-15, 16-25 and 26-35. 9-15 seating capacity segments dominate the market as it allows attaining desired changes as per the requirement in a low price bracket. In addition, based on application, market is segmented into recreational purposes, school buses and others. Recreations purposes include public transportation, enterprise purchase, tourist, private purchase, government and car rental company purchase. Recreational purposes segment is estimated to witness higher growth rate due to rise in trend of growing expenditure on leisure & sports and increase in touring activities during the forecast period.

The small bus market is driven by growth in need for public transport for complex road networks, followed by rise in requirement of affordable & reliable public transportation, growth in population, rise in government initiatives for improving the public transportation networks, increase in awareness to reduce traffic congestion & improve air quality, and rise in number and size of the private transportation companies. However, lack of stand-alone security systems like video surveillance & access control may impact the market. Moreover, growth in number of school enrolments is a key opportunity for market.

Based on geography, the North-American region holds major share in small bus market owing to expansion of existing fleets and rise in focus on replacing aging vehicles in the region. Whereas, the Asian-Pacific and European regions are estimated to witness higher growth rate due to growth in focus on the adoption of electric vehicles coupled with introduction of new emission standards to improve fuel economy over the forecast period. In upcoming years, it is predicted that future of the market will be bright as a result of rise in traffic congestion situation and increase in enhancements to provide fast & high-capacity service with a more rail-like atmosphere & amenities and to make eco-friendly surroundings during the forecast period.

For More Information, click on the link below:-

Global Small Bus Market Research Report

Related Reports:-

Small Bus Market Research: Global Status & Forecast by Geography, Type & Application (2015-2025)

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249

RELATED ARTICLES

The EV Charging equipment market is growing rapidly, owing to New Manufacturing Plants in the Kingdom and the Entry of new market players: Ken...

Buy Now Driven by an increased focus on sustainability, and government initiatives, the EV Charging equipment market in KSA has ample growth potential in the...

India EV Charging Equipment Market Revenue is expected to grow at a CAGR of 25.2% from 2021 to 2026: Ken Research

Buy Now 1. Charging infrastructure in India is currently quite underdeveloped but has huge potential in the near future owing to increasing EV deployment in...

The Market Shares Of Automotive Lubricants And Industrial Lubricants In Nigeria Lubricants Market Is Expected To Remain Fairly Stagnant And The Market Size For...

Buy Now Nigeria Lubricants Market Ecosystem The Nigeria Lubricants market is moderately fragmented with major global and national players occupying almost half of the market. The...

Most Popular

Morocco is witnessing the growth in the adoption of digital services such as cloud, big data, and IoT, which are driving the demand for...

Buy Now Driven by digital transformation and increasing reliance on technology, the data center market in Morocco has ample growth potential in the coming years. The...

Oman Car Finance Market Is Expected To Grow At A Robust CAGR, Owing To The Growing Digital Advancements And Increasing Number Of Finance Aggregators:...

Buy Now Oman Car Finance Market Oman Car Finance Market is in the growing stage, owing to the increasing interest of people towards owning a vehicle,...

Emerging Green Car Loans and Growing Digital Advancements are driving Singapore’s Auto Finance Industry: Ken Research

Buy Now More than half of all sales in the Singapore Automotive Industry are of used vehicles, owing to the country's high cost...

Oman Mattress Market is expected to grow at a robust CAGR, owing to the increasing disposable income and rising awareness about healthy lifestyles: Ken...

Buy Now Oman Mattress Market is in the growing stage, owing to the increasing disposable income, increasing urbanization and a rise in awareness about healthy...