School Bus Demand Grows in China - Freedonia Group Trend Analysis

Chinese Government Expected to Continue to Address Safety Issues and Expand Busing Services

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Aug 28, 2019, 16:15 ET

CLEVELAND, Aug. 28, 2019 /PRNewswire/ -- Global demand for school buses is projected to expand 3.6% annually to 66,800 units in 2023, slower than the 2013-2018 rate of increase and anticipated gains for the bus market overall. Weak school bus sales growth in the US and Canada – two of the world's three largest school bus markets – will prevent the segment from registering stronger growth. According to analyst Gleb Mytko, "The growing use of nontraditional school buses like small motor coaches in a variety of countries – such as Brazil, India, and Russia – will also be a restraining factor". High levels of demand for used models in many industrializing countries will supplant sales of new school buses to some extent.

More information about the new Global Buses study is here: https://www.freedoniagroup.com/industry-study/global-buses-3733.htm

Despite growing at a subpar pace, the school bus segment is still projected to post significant gains between 2018 and 2023 because of two trends:

growing demand for school buses in China as the government addresses safety issues and expands student busing services
minor replacement demand gains in North America, the dominant geographic market for these products

Demand for all bus types collectively is forecast to grow 4.7% annually to 606,500 units in 2023, bringing the number of buses in use to 9.6 million units. Numerous trends are expected to contribute to gains, including:

advances in government spending on public transportation to expand transit services, reduce traffic congestion, and improve air quality
continued expansion of global tourism and private transportation
a shift from the use of conventional (diesel and gasoline) fuel to CNG/LNG, electric, and hybrid models in urban transit systems, which will prompt the early upgrade of bus fleets to achieve fuel cost savings

Please contact Corinne Gangloff at +1.440.684.9600 or [email protected] for an interview with the analyst Gleb Mytko.

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 & Transport studies can be accessed at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.684.9600
[email protected]

SOURCE The Freedonia Group