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Global Bus Growth Opportunities
Growth Strategies to Aid the Recovery of the Bus Market by 16.1% in 2021
07-Sep-2021
North America
Market Research
K5D9-01-00-00-00
AU02222-NA-MT_25756
COVID-19 has had a global impact, with governments resorting to national lockdowns and social distancing measures to mitigate the spread of the virus. The result was a large-scale drop in business confidence, consumer demand, and industrial production, leading to a global economic recession in 2020. A large number of workplaces closed indefinitely or implemented remote working arrangements. The concerns over public health and safety reduced travel volumes as well as public transit ridership. However, with vaccination drives underway across the globe, ridership is expected to increase in 2021–22. In developing countries, a majority of the population working in the informal sector is highly dependent on public transport for their daily commute. This is expected to drive the growth of the transit bus segment.
The size of the global bus market in 2020 was ~175,745 units and is expected to grow to ~204,048 units in 2021 with a compound annual growth rate (CAGR) of 16.1%.
Zero-emission powertrains in transit buses have gained momentum across Europe and China. The EU Clean Vehicle directive for EU countries will boost electric bus adoption. The extension of subsidies in China till 2022 accelerated the growth of new energy buses in the second half of 2020. Additionally, Chinese electric bus OEMs are rapidly expanding globally, with the establishment of manufacturing and assembly plants, in addition to exports. In Latin America, some countries are developing electro-mobility strategies promoting zero-emission buses in public transportation. Chinese OEMs have also established regional production bases to tap into LATAM. In the coach segment, diesel powertrain is dominant, though natural gas and fuel cells are attractive with the development of fuelling infrastructure.
Though plummeting demand pushed oil prices into the negative territory in 2020, oil prices are set to rise in 2021 and expedite the adoption of alternative powertrains. Traditional OEMs across various regions are expanding their product portfolios to include battery electric and fuel cell buses in the transit segment. The market is witnessing strong collaborations among incumbent automakers, suppliers, and new players striving to enter the market. The relatively low total cost of ownership of electric buses, when compared to diesel buses, and the push for developing charging infrastructure will make electric buses a profitable option from 2024 to 2026.
Author: Saideep Sudhakar
KEY ISSUES ADDRESSED
- The size of the global bus industry in 2020 and impact of COVID-19 on the market in various regions?
- How is the global bus industry expected to recover in 2021 in terms of volumes and key drivers for growth in different regions?
- Projected penetration of key powertrain technologies across different regions?
- Top OEM performers in 2020 and their powertrain strategy in future across different regions?
- Key trends and activities in the field of autonomous buses in select regions?
Key Highlights of the Global Bus Industry
Snapshot of Bus Market by Region in 2021
Global Bus Powertrain Outlook
Impact of COVID-19 on Key Regions and Recovery—Bus Market
Top Predictions for 2021
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on Bus Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Research Scope
Product and Technology Segmentation
COVID-19 Impact on World GDP Growth
Global Growth Scenario Analysis—Assumptions
World GDP Growth Under Differing Scenarios
COVID-19 Impact on Key Regions
Global Bus Market Forecast—Overview
Global Transit and Coach Bus Market Forecast by Region
2020 Bus OEM Sales Performance
2021 Powertrain Technology Forecast—Global Bus Market
Key Trends in the Region
Public Transit Operational Funding & APTA Ridership Trends
Impact of COVID-19 on Bus Sales
Emission Standards and EV Incentives and Subsidies
Powertrain Technology Split
OEM Powertrain Technology Platforms
High-capacity Driverless Vehicle Initiatives—North America
Key Trends in the Region
COVID-19 Impact
Emission Standards and EV Incentives and Subsidies
Powertrain Technology Split
OEM Powertrain Technology Platforms
OEM Powertrain Technology Platforms (continued)
High-capacity Driverless Vehicle Initiatives—Europe
Key Trends in the Region
COVID-19 Impact
Emission Standards and EV Incentives and Subsidies
Powertrain Technology Split
OEM Powertrain Technology Platforms
High-capacity Driverless Vehicle Initiatives in China
Key Trends in the Region
Impact of COVID-19
Emission Standards and EV Incentives and Subsidies
Powertrain Technology Split
OEM Powertrain Technology Platforms
Key Trends in the Region
COVID-19 Impact
Emission Standards and EV Incentives and Subsidies
Powertrain Technology Split
OEM Powertrain Technology Platforms
Parameters/Assumptions—Transit Bus, North America
Diesel, NG, Electric, Fuel Cell Transit Bus Operational CPM Comparison
Operational Cost/Mile—Diesel, Electric, NG, Fuel Cell
Growth Opportunity 1—Move Towards Cleaner and Zero-emission Transportation Through Electrification
Growth Opportunity 1—Move Towards Cleaner and Zero-emission Transportation Through Electrification (continued)
Growth Opportunity 2—Development in Advanced Connectivity and Safety Features in Commercial Mobility
Growth Opportunity 2—Development in Advanced Connectivity and Safety Features in Commercial Mobility (continued)
Growth Opportunity 3—Identify and Map the Opportunity Landscape for Fuel Cell buses Across Segments and Different Use Cases
Growth Opportunity 3—Identify and Map the Opportunity Landscape for Fuel Cell buses Across Segments and Different Use Cases (continued)
Key Conclusions
Key Conclusions and Future Outlook
Abbreviations and Acronyms
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
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