World bus demand to rise 5% by 2018
According to a report by market researchers, Freedonia, worldwide demand for buses is projected to rise by more than 5% per annum to over 600,000 units in 2018, twice as fast as the 2008-2013 rate of increase. Entitled ‘World Buses’, the study says the number of buses in use worldwide is expected to exceed 8m units in 2018. Five major trends are expected to fuel growth: expansion in the size of the global urban population; rising government investment in public transportation networks; growth in the number and size of private transportation companies; climbing worldwide sales of electric, hybrid, compressed natural gas (CNG) and liquefied natural gas (LNG) models; and increases in the use of Type C and other school bus models because of government efforts to expand access to education, safety concerns and more favorable conditions in the large US market. However, global bus sales increases will be restrained by rising demand for and use of motorcycles and light motor vehicles for transportation as income levels climb in many developing nations. The expansion of rail transportation networks around the world is also expected to moderate bus market growth.
The Asia/Pacific region is projected to account for over 60% of all new bus demand through 2018, claims the report. Following a period of sizable losses, demand for buses in North America and Western Europe is projected to rebound noticeably, as sales of electric, hybrid, CNG and LNG buses grow.
The full report can be downloaded at https://www.reportbuyer.com/product/1053065/