South America Bus & Coach Market to Grow at 6.73% in Terms of Value CAGR by 2027
Rising focus on travel and tourism with the entry of several
bus companies in South America and the increasing demand for environment-friendly
commute is the major factor driving the growth of South America Bus and Coach
Market.
According to the TechSci
Research report, "South America Bus & Coach Market-Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2017-2027F", the
market is expected to reach USD 3457.22 million, registering a CAGR of 6.73 % by
2027, because buses are most preferred way of transport for the daily commute
to work. Moreover, the government initiatives for enhancing the public
transport for the efficient service provided to passengers are also increasing
the demand of buses.
Also, with the environmental
concern regarding the pollution, the manufactures and government are also
shifting toward the electric & alternate fuel to replace the dependency on the
diesel/petrol powered vehicles. When compared to diesel
vehicles, electrification lowers operating costs, increasing energy security,
and lowering running costs are increasing the demand for electric
bus and coaches.
There are many manufactures
which are building innovate buses, which is also driving the demand of the buses and coach
such as the double decker buses and new bigger length buses are coming with the
ability to carry many passengers. The autonomous bus is a major
trend that is growing in prominence in the market for buses and coaches. The
number of driverless bus pilots is increasing, and many manufacturers have
already announced the launch of autonomous bus.
In South America, buses
are convenient and effective. There always seems to be a bus leaving from your
location at the ideal moment. In some locations, you can call them from the
station or you can get on it immediately from the highway.
Browse more than87 market data Figures spread through 80 Pages and an in-depth TOC on "South America Bus & Coach Market"
The
South America Bus and Coach market can be
segmented based on length, application type (By Type of Buses), application type
(By type of usage), by seating capacity, by fuel type, by body type, and by region.
Based on length, the 10-12m segment currently dominates the South America bus
and coach market with most of the market share because these types of buses and
coaches’ length are used in public transport and for long-distance travel. Based on Application type
(Type of buses), the motor coach has highest share in type of buses because it
is majorly used in the public transport and in the application type (type of
usage). Public transport has the highest percentage in term of usage of buses
and coaches because people use public buses for everyday usage and it is
affordable as well. In the fuel type, the diesel-powered buses and coaches have
the highest share because of the low prices of diesel and the power performance
of diesel engine in long distance travel although with the increasing concern
toward emission, there is a rise in electric and alternate fuel type as well.
In the body type, the customised sector has the major share because many
manufactures and bus company customised their buses due to the varying demand
of the consumer. By region, Brazil has the major share in bus and coach market
due to its high population.
Some of the major players operating in the
South America Bus & Coach Market include:
- Mercedes-Benz Group
AG
- Volkswagen AG
- Agrale S.A.
- Industrial Vehicles Corporation
(IVECO)
- The Volvo Group
- Hyundai Motor Group
- General Motors (Chevrolet)
- Mitsubishi Fuso
Truck and Bus Corporation
- Hino Motors Ltd.
- King Long United
Automotive Industry Co., Ltd.
Download Free Sample Report
Customers can also
request for 10% free customization on this report.
“With the concern toward the environmental
situation, manufactures are innovating, and government
is promoting eco-friendly buses and coaches. Also, government initiatives to
enhance the public transport along with the on growing demand of bus &
coach services and the introduction of advance technology in the vehicles will
generate new opportunities in the market", said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“South America Bus and Coach Market by length
(10-12m,6-8m,8-10m and above 12m), By Application Type (By type of buses) (Motor
Coach, Mid Coach, Mini Coach, Shuttle Bus, Double Decker Bus, and Others), By
Application (By Type of Usage) (Public Transport, Office Bus, School Bus,
Tourist Bus and Others), By Seating Capacity( 41-50, above 50, 31-40 and up to
30), By fuel type (Diesel, Petrol, Electric & Hybrid, Alternate fuels, and
Fuel Cell), By Body type (Customisable, Fully Built) , By Region, Competition
Forecast & Opportunities, 2017- 2027F, has evaluated the future growth
potential of South America Bus & Coach Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the South America Bus and Coach market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com