NEW YORK, Feb. 9, 2022 /PRNewswire/ -- The School Bus market share is estimated to increase by USD 848.47 million from 2020 to 2025, and the market's growth is anticipated to accelerate at a CAGR of 3.68%. Factors such as increase in the number of school enrollments are significantly driving the school bus market in this region.
Our research report on "School Bus Market by Powertrain and Geography - Forecast and Analysis 2021-2025" has extensively covered factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market share during the forecast period.
School Bus market report key highlights
School Bus Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.68% |
Market growth 2021-2025 |
$ 848.47 million |
Market structure |
Fragmented |
YoY growth (%) |
3.50 |
Regional analysis |
North America, APAC, Europe, MEA, and South America |
Performing market contribution |
North America at 46% |
Key consumer countries |
US, China, Canada, Japan, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Ashok Leyland Ltd., Blue Bird Corp., Daimler AG, Eicher Motors Ltd., Ford Motor Co., Forest River Inc., GreenPower Motor Co. Inc., Higer Bus Company Ltd., JCBL Ltd., Mahindra & Mahindra Ltd., Navistar International Corp., REV Group Inc., Scania AB, Sumitomo Corp., Tata Motors Ltd., The Lion Electric Co., Trans Tech Bus, Van-Con Inc., and Yutong Bus Co.Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Do reach out to our analysts for more customized reports as per needs. Speak to our Analyst now!
School Bus Market Share Trend
A few technological breakthroughs in the use of information technology to ensure the effectiveness of school buses are being seen in the worldwide school bus market. Engine defects, damaged indicator lights, and problems with oil tanks, transmissions, or exhaust systems can all be detected by advanced sensors. A range of sensor-based detection systems is currently available to improve the safety of school buses. Advanced digital cameras provide a more comprehensive view of the school bus interiors, making it easier to record, monitor, and investigate disorderly behaviour and bullying among younger students. During the forecast period, such advancements are projected to have a beneficial impact on the worldwide school bus market.
School Bus Market Challenge
The adoption of new and enhanced emission criteria is one of the primary factors impeding the growth of the global school bus market. This poses a significant difficulty for developing economies such as those in APAC and the Middle East and North Africa, which are still heavily reliant on diesel and gasoline-powered school buses. During the forecast period, most of the major school bus regional markets, such as the United States, the United Kingdom, China, and India, are expected to implement the Euro VI emission standard and its country-specific equivalents. As a result, if new emission requirements are introduced or old ones are modified, school bus manufacturers must be more proactive in implementing technology that comply with these criteria.
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Key market vendors insights
The school bus market share is fragmented, and the vendors are deploying various organic and inorganic strategies to compete in the market.
Some of the key market vendors are:
For more detailed highlights on products offerings and the growth strategies adopted by other vendors, Download free sample report
Regional Market Analysis
North America will contribute to 46% of the school bus market share growth during the forecast period. US, China, Canada, Japan, and the UK are the major markets for school bus market share.
The increase in emphasis on reducing damage to the environment by the state and central governments of various countries is expected to boost the school bus market share in the region.
Request our free sample for additional highlights and key segments that are expected to impact the market during the forecast period.
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SOURCE Technavio; Technavio
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