Persistence Market Research
Global Bus Transmission System Market: Introduction
Bus has been always an important part of road transportation for public use. In many of the cities across globe, still buses are the most used mode of transportation for inter and intra city commute. The bus transmission system is a mechanism that transmits the power developed by the engine of the bus to the driving wheels. With the growing need for technological advancements and to cater the demand of growing transportation needs, the OEMs are shifting to develop automatic bus transmission systems. Currently, more than half of the world’s population resides in cities, by the end of 2050, it will be more than 66%. This will create a profound impact on people’s quality of life. Most of the bus transmission systems utilize gasoline & diesel as a fuel. Concurrently, this leads to production of CO2 and other greenhouse gases. Today’s air pollution levels in the cities are already enlightening the limits of a mobile society that depends on bus transit. Furthermore, CO2 emissions are accelerating climate change across the globe. Established players and new players are forced to limit the emissions through manufacturing efficient and eco-friendly bus transmission systems.
The automotive industry is going through numerous changes from different extents including changing environmental standards as well as technological commotions. The bus transmission system market is also witnessing increased competition across the globe. The global presence of OEMs increases their exposure to several geopolitical challenges which affect their business. Furthermore, the bus industry has still not reached to maturity level owing to increased demand from people for advanced public transports in order to avoid increasing accidents and congestions. This proliferates the demand for efficient bus transmission systems.
Global Bus Transmission System Market: Market Dynamics
Public transport is one of the chief driver of economic growth. Folks in many countries rely on bus transport for inter and intra-city commute. Consequently, bus transmission system is expected experience steady growth rate in the coming years. Another factor that fuels up the bus transmission system market is growing oil and gas prices. This pushes OEMs to optimize the fuel economy in the bus transmission system.
The bus transmission system market is going through the turning points in terms of opportunities and challenges. The global bus transmission market is witnessing key challenges in various spheres especially to fulfill new emission norms and technological advancements. With the growing market of rental cars, car-pooling and e-hailing, decreasing preference of bus transportation, the market of bus transmission system is expected to get hampered.
OEMs strive to enhance and bring advanced features with automatic bus transmission system to minimize the power loss and optimize the fuel efficiency of the bus. Furthermore, the bus market is expected to witness transition towards electric mobility, resulting in increasing sales of electric and hybrid buses will also create new opportunities in the market.
Global Bus Transmission System Market: Market Segmentation
Global bus transmission system market can be segmented on the basis of design, transmission type, sales channel, application and region
On the basis of design, global bus transmission system market can be segmented as
On the basis of transmission type, global bus transmission system market can be segmented as
On the basis of sales channel, global bus transmission system market can be segmented as
On the basis of application, global bus transmission system market can be segmented as
Global Bus Transmission System Market: Regional Outlook
The crisis markets in Latin America and Russia are expected to decelerate the bus transmission systems market. With respect to automobile sector, global production of light commercial is witnessing moderate growth. Nearly, a one-third population of India, China and ASEAN prefer bus transport for traveling purpose. This will likely to boost the transport industry owing to growing population and urbanization in these regions. Consequently, surge in the demand for bus transmission system. Relevant policies have been introduced in North America, Western Europe, and Japan to improve fuel economy in buses.
Moreover, the countries of Middle East are anticipated to witness a significant growth in population. The countries are expected to record promising economic and sustained growth in the coming years. Lack of urban journey policy resulted in the development of well-organized public bus transport system in countries such as UAE, Syria, Qatar, Saudi Arabia, and others. Subsequently, this led to the heavy investments in the region for deploying new buses. This step is foreseen to bolster the growth of bus transmission system market in the region. Additionally, significant sales volume of automatic bus transmission systems for luxury buses in the U.S. is expected to continue in the coming years owing to the demand growth of articulated buses.
Global Bus Transmission System Market: Key Participants
Example of some of the market participants in the global bus transmission system market discerned across the value chain include
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