Dublin, Aug. 23, 2021 (GLOBE NEWSWIRE) -- The "Asia Pacific Bus Market, By Length Type (Less than 8m, Between 8m-10m, Between 10m-12m, Greater than 12m), By Fuel Type (Diesel, Petrol/Gasoline, Gas, Electric, Hybrid), By Seating Capacity, By Body Type, By Application, By Country, Competition, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific Bus Market is expected to grow from 22.97 thousand units in 2020 to 42.57 thousand units, growing at a CAGR of 9.08% during the forecast period because of growing environmental concerns and increasing government initiatives.
Due to increasing number of personal two-wheelers and four-wheeler vehicles on roads, the level of pollution is increasing day by day which is a huge concern. Not only increasing fleet of personal vehicle is affecting the environment but also leading to traffic congestion on the roads. To overcome the issue of environmental pollution and traffic congestion, governments are taking necessary steps like promoting buses for daily travelling by offering subsidies on buses and providing benefits for increasing the adoption rate of electric vehicles.
The electric buses can play a vital role in decreasing the pollution level as use of electricity in place of fuels like diesel and petrol causes less pollution. However, the deployment of electric buses will depend upon country wise policy and also the number of charging stations in countries. To run the electric buses on road countries should have a strong charging infrastructure to avoid problems.
The Asia Pacific Bus Market can be segmented on the basis of length, fuel type, seating capacity, body type and application. Based on length, below 8m buses is leading the market. But in 2020, the sales of buses with length 10m-12m were good because of use in both intracity and intercity application. In terms of fuel type, diesel buses dominated the market with over 90% market share in 2020. In the forecast period also it is expected that diesel buses will dominate the bus market, but electric buses are projected to grow at a good CAGR in comparison to diesel buses.
By seating capacity segment, the buses with below 30 seats are leading the market because of high demand for intracity purposes. In by body type segment, the fully built buses i.e., which are not modified for individual purposes are dominating the Asia Pacific Bus Market and in forecast period also it is expected that this segment will dominate the market.
In by Application bus segment, transit buses are leading the market because of high demand as intracity buses followed by motorcoaches. The demand of motorcoaches is basically due to increasing tourism in Asia-pacific countries like Indonesia, Malaysia, Singapore etc.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.
Key players are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers and acquisitions and new product developments. Players operating in the market are improving R&D capabilities while enhancing operational efficiency to register positive growth.
Major players operating in the Asia Pacific Bus Market are
Toyota Motor Corporation.
SML Isuzu Ltd.
Hino Motors, Ltd.
Nissan Motor Company, Ltd.
Mitsubishi Fuso Truck and Bus Corporation
Shanghai Shenlong Bus Co., Ltd.
Years considered for this report:
Historical Period: 2016-2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F-2026F
Asia Pacific Bus Market, By Length Type:
Less than 8m
Greater than 12m
Asia Pacific Bus Market, By Fuel Type:
Asia Pacific Bus Market, By Seating Capacity:
Less than 30
Greater than 40
Asia Pacific Bus Market, By Body Type:
Asia Pacific Bus Market, By Application:
School bus/ others
Asia Pacific Bus Market, By Country:
For more information about this report visit https://www.researchandmarkets.com/r/8bvkff
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