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The global bus market includes bus seats for different types of buses such as transit, coach, transfer, and others. The key drivers for the growth of this market include the rising demand for comfort and luxury, growing demand for advanced transportation, and increasing vehicle production.
Governments across the world are actively involved in the development of faster and convenient modes of transportation by investing in the transportation sector. Buses play a vital role in the transportation system for connecting cities through roads. It brings cities closer, thus helping in improving productivity of businesses.
The scope of this report covers the global bus seat market by bus type, seat type, comfort type, and geography. The market for school buses is expected to grow at the highest rate during the forecast period. School bus is a transportation medium that provides comfortability, safety, and eco-sustainability. The reason behind the high growth rate of the market for school buses is the rising adoption rate of bus services in this sector.
The rapid urbanization, growth in the international and national tourism industry, urban traffic congestion, shifting mobility patterns, and government promoting public transport are anticipated to fuel the demand for bus seats during the forecast period. Buses are one of the safest, convenient, greenest, most user-friendly, and affordable modes of transport for short and long-distance transport. In 2019, bus production decreased by 3.3%, to 271,204 compared to 280,387 in 2018, owing to the global economic crisis and the US-China trade war.
Bus seats are noticing various technological advancements, as more and more electric and hybrid buses are being launched and adopted in different countries. Buses are shifting toward lightweight components and systems. Standard seats come with features, like the individual armrest, seat pockets, coat hanger. However, there is an increasing demand for light-weight seats with features, such as USB charging points, horizontal movement of seats, vertical grab handles on the seatback, and lumbar support.
Various local governments have different innovative plans to promote public transport, such as providing free transportation. For instance, Luxembourg became the first country to make all its transportation free. Governments have plans to invest around USD 4 billion from 2018 to 2028, for the up-gradation of the bus network and for adding more park-and-ride sites in their borders. There are other major countries where free bus transportation is provided under certain conditions.
The number of new buses sold in different part of Europe during the year 2020 is given below:
China is the world’s biggest bus engine market, followed by India and Europe. The China bus market has 25 players in total, accounting for 0.5 million units per annum cumulatively.
The number of Medium & Heavy buses sold in China from January to July for the year 2021 came out to be 45,121 units which was an increase of 1.25% year on year. The companies that share the highest sales volume in the market are given in the chart below that describes the units sold by each company for the given duration.
India currently has 1.5 buses per 1,000 people, compared to six per 1,000 in China, 30 per 1,000 in Japan and 70 per 1,000 in South Korea.
The market is marked by several local players with intense competitive rivalry and margin pressure. Seat manufacturers are actively setting up alliances and expanding in the emerging markets, such as India and China, to take advantage of the low labor costs. This trend may change the dynamics of the industry during the forecast period. Furthermore, seat manufacturers must focus on these emerging markets to remain competitive.
The market for recliner seats is expected to record higher revenue compared to other seat types available in the market during the forecast period. Recliner seats are flexible and comfortable for long distance journeys; also the demand for these seats from bus manufacturers is high. The market for regular passenger seats is expected to grow at the second-highest growth rate during the forecast period.
APAC is expected to hold the largest share of the bus seat market by 2026; the market in this region is expected to grow at the highest rate between 2021 and 2026. Rising demand for transportation for a large population, urbanization, and increasing economic developments are driving the growth of the bus seat market in APAC.
One of the key factors restraining the growth of the bus seat market is the lack of standardization of seating systems in buses.
In 2020, the European Commission approved USD 332 million of additional state funding in Germany, with a total funding of USD 719 million for incentivizing electric bus orders by the end of 2021.
BYD, one of the leading electric bus manufacturers headquartered in China, has sold more than 500 electric buses in Southern California. Its customers include airports, universities, private operators, and transit agencies.
In 2020, the Los Angeles Department of Transportation (LADOT) announced its plans to place an order for 155 electric buses in the United States, which may be completed in two years. This purchase is a part of LADOT’s ambitious plan of switching entirely to 100% electric buses by 2028.
Currently, China is the forerunner in the electric bus market. In 2020, 17% of buses sold in China were e-buses. Moreover, the overall bus sales in the country are expected to remain stable, with more than 400,000 new purchases by 2025. Electric bus purchases are expected to increase, supported by continuous government initiatives to promote e-mobility, and the overall ebus adoption is likely to reach 40% of new bus purchases globally, by 2040.
The global bus seating systems market size is expected to grow by USD XX billion during 2021-2026. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
The Indian government has proposed to open up the public bus sector to the private companies.
Similarly, in the US, the regional transportation agencies have integrated private commuter buses as alternative transportation. Such high investments and initiatives by governments will propel bus transportation, thereby driving market growth.
The key players, operating in the bus seat market, profiled in this report are Aisin Seiki Co. (Japan), Faurecia (France), Freedman Seating Company (U.S.), Gantherm (U.S.), Harita Seating Company (India), Lear Corporation (U.S.), Magna International (Canada), NHK Springs, Co., Ltd. (Japan), Taichi-S Co. (Japan), and Toyota Boshoku Corporation (Japan).
The companies are expanding their presence through strategic alliances, the acquisition of regional players, and the introduction of advanced and comfortable seats. For instance,
In 2019, Lazzerini SRL, an Italian seat manufacturer, acquired Australia-based Styleride Seating Systems. This acquisition will drive the growth of the markets in Australia, New Zealand, and Asia during the forecast period. Lazzerini SRL has a rich customer base, which includes bus manufacturers, such as Alexander Wright, Volvo, Scania, Caetano, Iveco, Sitcar, Mussa, and IIA.
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