Dublin, March 22, 2024 (GLOBE NEWSWIRE) -- The "Buses and Coaches Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global buses and coaches market is experiencing a significant uptrend, projected to burgeon from $44.89 billion in 2023 to $60.25 billion by 2028, boasting a CAGR of 6.1%. This growth is spurred by the increasing focus on reducing carbon emissions, the burgeoning demand for various sizes of buses and coaches, and several government initiatives supporting sustainable transportation solutions.
The recent research publication provides a comprehensive analysis of the buses and coaches market, highlighting the latest trends, including the shift towards vehicle electrification and the integration of autonomous technology. The report meticulously examines the drivers propelling the market forward, such as urbanization and the expansion of public transport infrastructure.
Key findings indicate the steady rise in demand for bus travel, supported by robust global urbanization and significant technological strides. A noteworthy spotlight is cast on the urbanization trend across Asia-Pacific and North American regions, which is creating fertile ground for the market expansion. Autonomous buses are identified as a critical trend, with leading manufacturers pioneering trials and innovative solutions that promote safety and precision.
Industry players are placing an intense focus on integrating state-of-the-art technologies, particularly in the realm of coaches, to enhance the passenger experience and ensure competitive strength. Innovations in comfort, safety, and entertainment systems are key distinguishing factors for market leaders.
Strategic mergers and acquisitions are reshaping the landscape, with significant transactions among top companies allowing for an extended market reach and a strengthened portfolio of offerings. This dynamic is anticipated to continue, fostering collaborations and fueling the industry’s expansion.
The report explores geographical market performance, with North America surfacing as the dominant region in 2023, closely followed by the Asia-Pacific region. Detailed market breakdowns provide insights into the regional nuances and prospects for market participants.
Market segmentation analysis reveals a diverse array of products, from diesel to hybrid buses, with each segment catering to a variety of applications, from general transit to long-distance travel. These insights underscore the breadth of opportunities within the market.
Conclusion: The research publication serves as an authoritative resource, delivering an exhaustive overview of the current and projected buses and coaches market scenario. Stakeholders in the industry will find this report instrumental in formulating strategic decisions and capitalizing on emerging opportunities within this vibrant sector.
The report underscores the imperative of innovation and sustainable practices in driving the market forward, offering a detailed perspective on the economic forces and technological advancements shaping the buses and coaches industry's future.
A selection of companies mentioned in this report includes
- Mercedes-Benz Group AG (formerly Daimler AG)
- Volkswagen AG
- CNH
- INDUSTRIAL N.V. (IVECO subsidiary of CNH Industrial)
- YUTONG
- Volvo
- Hyundai Motor Company
- Xiamen King Long United Automotive Industry
- Ashok Leyland
- Zhongtong Bus
- ANKAI
- Daimler India
- Bharat Benz
- Mitsubishi
- Fiat Chrysler Automobiles
- Scania
- UD Trucks Corp.
- Ford Motor Company
- Toyota Motor Corporation
- BYD Auto
- Shaanxi Automobile Group
- Beiqi Foton Motor Co.
- SAIC Motor Commercial Vehicle Co.
- MAN Truck & Bus SE
- Irizar
- Solaris
- VDL
- Gaz Group
- NefAZ (KAMAZ affiliate)
- UAZ
- Elegantbus
- Cento Bus
- Bus Factory
- Pacific Tur
- Lux Bus America
- Vamoose Bus
- Enel X Brazil
- PSA
- Temsa
- Hafilat
- Karsan
- Otokar
- Tata Motors
- Cania AB
For more information about this report visit https://www.researchandmarkets.com/r/7gv2e2
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