Global Bus Demand to Grow Nearly 5% Annually Through 2021

Conventional fuel buses (principally diesel) dominate world demand

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May 16, 2017, 09:00 ET

CLEVELAND, May 16, 2017 /PRNewswire/ -- Global demand for buses is projected to increase 4.9% per year through 2021 to 623,000 units, an improvement over 2011-2016 market performance. The number of buses in use worldwide is expected to reach 9.7 million units. These and other trends are presented in Global Bus Market, 6th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.

Conventional fuel buses (principally diesel, although many smaller buses use gasoline) dominate world demand, accounting for nearly three-fourths of the 2016 unit market total. However, sales of electric and hybrid buses will rise at the fastest pace of any product type through 2021, in a continuation of past trends, because of growing environmental concerns. These product types:

are much more fuel efficient and cheaper to operate
have considerably lower maintenance costs
run more quietly
benefit from government initiatives around the world to encourage their purchase at the expense of conventional models

Worldwide demand for CNG/LNG buses is projected to climb at an impressive pace as well, bolstered by:

low natural gas prices
increasing availability of CNG/LNG buses in numerous markets
development of more technologically advanced, better-performing models

More information about the study is available at https://www.freedoniagroup.com/industry-study/global-bus-market-by-product-and-fuel-type-6th-edition-3509.htm

Related studies include:

#3490 Global Filters Market Forecast (March 2017)
#3488 Global Diesel Engine Market, 5^th Edition (January 2017)

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Automotive & Transportation studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
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SOURCE The Freedonia Group