Buses And Coaches Market 2022 - Global Forecast To 2031

The Business Research Company's Buses And Coaches Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, October 24, 2022 /EINPresswire.com/ -- Major bus and coach manufacturers are investing in driverless vehicle technologies to reduce traffic congestion, prevent accidents and save fuel. Automated buses will revolutionize the efficiency and mobility of logistics, which will create new opportunities for manufacturers to bring bus automation technologies into the market. Driverless vehicles can sense their surrounding environment and navigate through an area without the involvement of humans using radar, GPS, and computer vision technology. With this technology becoming realistic, many companies are expected to be part of the production and design of driverless buses. Autonomous buses are being tested with pilot projects in several cities worldwide. At the same time, technology is being developed aimed at reaching higher automation levels. Along with major players, governments across various regions are also implementing pilot projects for autonomous buses.

The global buses and coaches market size is expected to grow from $80.74 billion in 2021 to $155.52 billion in 2026 at a rate of 14.0%. The global buses and coaches market size is then expected to grow at a CAGR of 12.3% from 2026 and reach $278.18 billion in 2031.      

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Governments across the world are emphasizing cutting carbon emissions to reduce pollution. Eco-friendly public transportation can play a significant role in controlling carbon emissions. For every kilometer traveled, private motorized transport modes such as cars and bikes emit 3.5 times more greenhouse gases per passenger than public transport. Governments are also encouraging their citizens to use public transportation and investing in energy-efficient mass transportation systems to reduce carbon emissions in their regions, which is likely to drive the demand for buses and coaches market. For example, in the EU, doubling the share of public transportation will decrease greenhouse emissions by 20%. Government initiatives promoting public transport to cut carbon emissions are expected to drive the buses and coaches market going forward.

Major players covered in the global buses and coaches industry are Mercedes-Benz Group AG (formerly Daimler AG), Volkswagen AG, CNH INDUSTRIAL N.V. (IVECO subsidiary of CNH Industrial), YUTONG, Volvo.

TBRC’s buses and coaches market report is segmented by fuel type into diesel, electric and hybrid, other fuel types, by application into general transit, personal and recreational, tourist, other applications, by body built into fully built, customizable.

Buses And Coaches Market 2022 – By Fuel Type (Diesel, Electric, Hybrid), By Application (General Transit, Personal And Recreational, Tourist), By Body Built (Fully Built, Customizable), And By Region, Opportunities And Strategies – Global Forecast To 2031 is one of a series of new reports from The Business Research Company that provides a buses and coaches market overview, forecast buses and coaches market size and growth for the whole market, buses and coaches market segments, geographies, buses and coaches market trends, buses and coaches market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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