Rise in Requirement of Affordable & Reliable Public Transportation Expected to Drive Global Small Bus Market: Ken Research

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Small bus is a passenger transport motor vehicle, designed to carry more people than a minivan and fewer people than a full-size bus. It is a multi-purpose motor vehicle with 9 to 30 people. It is used for a variety of reasons. In a public transport role, it can be used as airport buses, fixed route transit buses, share taxis or large taxicabs and flexible demand responsive transport vehicles. Accessible small buses can also be used for para-transit type services, by transit operators, local authorities, hospitals or charities. Private uses of minibuses can include charter buses, corporate transport and tour buses. Additionally, sports clubs, schools, community groups & charities may also use these buses for private transport.

Global Small Bus MarketAccording to study, “Global Small Bus Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global small bus market are Ford Motor Co, Toyota Motor Corporation, Fiat, Marcopolo S.A., Daimler AG, Woodall Nicholson Limited (Mellor Coachcraft), Renault SA, Carrocera Arbuciense SA (Indcar), Iveco S.p.A, Unidad de Vehículos Industriales, SA, Peugeot SA, Integralia Movilidad S.L., MAN Truck & Bus, CaetanoBus, Mussa & Graziano srl, Sitcar Italia Srl, Al Fahim Group (Erduman Automotive), Carrocerias Ferqui Sl, Komvek Karoser Limited Sirketi, Car-bus.net, Otokar Otomotiv ve Savunma Sanayi AS, Brian Noone Limited, BARBI COACH & BUS srl, Dypety Srl, Feniksbus D.O.O., Rosero – P S.R.O., Irmaos Mota, AS DOMŽALE D.O.O., Auto-CUBY Sp. z o.o., D’Auria Group. The key vendors are increasingly focusing on bringing new technologies to ensure the efficiency & safety of buses. For instance, the market recently observed the introduction of passenger management systems which assistance in monitoring both the school children as well as the vehicle. Key players are also launching technological platforms that offer vehicle diagnostics on a real-time basis to increase the reliability of these vehicles. The introduction of these innovations is expected to create a positive impact on the global market during the forecast period.

Based on body type, small bus market is segmented into van conversions, purpose build and body build. Purpose build segment holds major share in market owing to its cost-effective price range and higher degree of customizability. Based on fuel type, market is segmented into electric & hybrid buses, diesel buses, CNG/LNG buses, conventional v/s alternative fuel buses and gasoline buses. Based on seating capacity, market is segmented into 9-15, 16-25 and 26-35. 9-15 seating capacity segments dominate the market as it allows attaining desired changes as per the requirement in a low price bracket. In addition, based on application, market is segmented into recreational purposes, school buses and others. Recreations purposes include public transportation, enterprise purchase, tourist, private purchase, government and car rental company purchase. Recreational purposes segment is estimated to witness higher growth rate due to rise in trend of growing expenditure on leisure & sports and increase in touring activities during the forecast period.

The small bus market is driven by growth in need for public transport for complex road networks, followed by rise in requirement of affordable & reliable public transportation, growth in population, rise in government initiatives for improving the public transportation networks, increase in awareness to reduce traffic congestion & improve air quality, and rise in number and size of the private transportation companies. However, lack of stand-alone security systems like video surveillance & access control may impact the market. Moreover, growth in number of school enrolments is a key opportunity for market.

Based on geography, the North-American region holds major share in small bus market owing to expansion of existing fleets and rise in focus on replacing aging vehicles in the region. Whereas, the Asian-Pacific and European regions are estimated to witness higher growth rate due to growth in focus on the adoption of electric vehicles coupled with introduction of new emission standards to improve fuel economy over the forecast period. In upcoming years, it is predicted that future of the market will be bright as a result of rise in traffic congestion situation and increase in enhancements to provide fast & high-capacity service with a more rail-like atmosphere & amenities and to make eco-friendly surroundings during the forecast period.

For More Information, click on the link below:-

Global Small Bus Market Research Report

Related Reports:-

Small Bus Market Research: Global Status & Forecast by Geography, Type & Application (2015-2025)

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249

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