The school bus market will register a CAGR of over 2% by 2023
June 12 2019 - 8:08PM
PR Newswire (US)
NEW YORK, June 12, 2019 /PRNewswire/ -- About this
market
The advantages of school buses over other modes of transportation
is one of the critical factors that will trigger the growth of the
market during the forecast period. School buses are built
explicitly with the focus of providing safe transportation to
school going children. Hence, these buses are fitted with the best
safety equipment to secure onboard kids. School buses are designed
with a primary focus on safety; therefore, they are provided with
protective seating, high crush standards, and rollover protection
features. Also, they are also fitted with large windows to increase
visibility and comprise some other features such as flashing red
lights. cross-view mirrors, and stop-sign arms. Such enhanced
safety features of school buses make them the preferred choice for
the transportation of students, which will enhance the growth of
the global school bus market during the forecast period. Our
analysts have predicted that the school bus market will register a
CAGR of over 2% by 2023.
Read the full report:
https://www.reportlinker.com/p05778677/?utm_source=PRN
Market Overview
Government initiatives for promoting electric buses
The need for reducing emissions has increased the demand for
alternative fuels for public transport. The decline in battery
prices supports the adoption of electric school buses by
governments. The increasing penetration of electric vehicles in the
commercial vehicle segment has attracted the school bus segment,
which is driving the global school bus market during the forecast
period.
Adoption of new or improvised emission standards
One of the major factors hindering the growth of the global school
bus market is the adoption of new and improved emission norms. This
provides a significant challenge in developing economies such as a
few countries APAC and the MEA, which are still highly dependent on
diesel and gasoline-powered school buses. In most of the major
school bus regional markets, the introduction of Euro VI emission
standard and its country-wise equivalents are expected to be
implemented during the forecast period. New or advanced technology
additions in school buses result in their price hikes, which harm
the growth of the global school bus market.
For the detailed list of factors that will drive and challenge the
growth of the school bus market during 2019-2023, view our
report.
Competitive Landscape
The market appears to be moderately fragmented. The presence of
several companies, including Ashok Leyland Ltd. and Blue Bird
Corp., the competitive environment is quite intense. This market
research report will help clients identify new growth opportunities
and design unique growth strategies by providing a comprehensive
analysis of the market's competitive landscape and offering
information on the products offered by companies. Daimler AG, REV
Group Inc., and Tata Motors Ltd. are some of the major companies
covered in this report.
Read the full report:
https://www.reportlinker.com/p05778677/?utm_source=PRN
About Reportlinker
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