Global school bus market projects the market to grow at a CAGR of more than 2% during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
Looking for more information on this market? Request a free sample report http://bit.ly/30BoR1b
Increase in number of school enrolments
The increasing global population, especially in countries such as China and India, has led to a rise in the number of children enrolling in schools. This is resulting in the increased demand for a large number of schools and adequate infrastructure about the education industry, which includes transportation and other amenities. Thus, the growing number of school enrolments will increase the demand for school buses, which will fuel the market growth during the forecast period.
To ensure the effectivity of school buses, vendors in the market are increasingly focusing on bringing new technologies. For instance, the market recently witnessed the introduction of passenger management systems which helps in monitoring both the school children and the vehicle. Vendors have also launched technological platforms that provide vehicle diagnostics on a real-time basis which enhances the reliability of the vehicle. The introduction of such innovations is likely to create a positive impact on the global school bus market during the forecast period.
Lack of adequate charging infrastructure
Over the last decade, the concept of electric vehicles has spread its applications from only passenger vehicles and two-wheelers to various other segments such as light and heavy commercial vehicles. However, there is no adequate charging infrastructure in many potential markets, which is acting as a hindrance for the growth of the electric bus market. Thus, the focus toward building charging infrastructure is needed to make public and private enterprises adopt electric vehicles. It is expected that the initiatives and measures by governments to improve charging infrastructure will increase in the years to come, which will positively impact the market growth.
Top players in the global school bus market:
• Ashok Leyland Ltd.
• Blue Bird Corp.
• Daimler AG
• REV Group Inc.
• Tata Motors Ltd.
Some of the key topics covered in the global school bus market include:
• Market ecosystem
• Market characteristics
• Market segmentation analysis
• Market definition
• Market size and forecast
Five Forces Analysis
• Regional comparison
• Key leading countries
• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario