Technavio, a tech-focused market research firm, has published a new report on the global articulated bus market, which is expected to grow at a CAGR of more than 20% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global articulated market into the following key regions: the Americas, APAC, and EMEA.
Articulated bus market in EMEA: Much of the market’s growth in EMEA is attributable to the well-established public transport system in Europe. France, Italy, Germany, the Netherlands, Norway, Poland, Spain, and the UK were the key revenue contributing countries in the articulated bus market in EMEA during 2016. The presence of superior public transit systems in Europe is anticipated to reflect positively on the growth of the articulated bus market in the EMEA during the forecast period.
According to Siddharth Jaiswal, a lead analyst at Technavio, specializing in research on automotive manufacturing, “The subsidy structure for buyers and manufacturers in the EU is the fundamental driving force behind the development of electric articulated buses, batteries, and charging infrastructure. The UK accounts for more than 85% of the sales of hybrid and electric buses and is witnessing a rising demand for electric buses. This, in turn, is attracting global OEMs to enter the European countries such as the Netherlands, Norway, and France.”
Articulated bus market in the Americas: The market for articulated buses in the Americas is led predominantly by the US and Canada. Fueled by governments’ initiatives to encourage environment-friendly transportation to reduce traffic congestion in cities, the Americas is currently experiencing an upsurge in demand for articulated buses. The market in South America is still at a nascent stage with countries like Brazil registering the highest sales and fastest growth perspective.
Articulated bus market in APAC: China, Australia, Singapore, and India are the dominant countries in APAC for the articulated bus market. The industry analysts at Technavio anticipate the articulated bus market in APAC to experience significant growth during the forecast period owing to the rise in demand from countries such as China and India. Other countries like Singapore are also contributing significantly to the growth of the articulated bus market in APAC.
The leading vendors operating in the global articulated bus market are:
- Solaris Bus & Coach
Other prominent vendors in the market include Ashok Leyland, BYD, New Flyer, Otokar, Scania, and Tata Motors.
Other related reports:
- Global Three-Wheeler (3W) Goods Carrier Market 2017-2021
- Global Automotive Retractable Roof Top (ARRT) Market 2017-2021
- Global Low-Bed Trailer (LBT) Market 2017-2021
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