The World’s Top Coach Manufacturers
According to a recent survey by TechSci Research, the global bus market was estimated at $34 billion in 2016, and has a projected growth rate of 7.7% and should hit $52 billion by 2022.
This growth has been dictated by the rise in demand for group transportation by a growing population. There is also contributory government initiatives that are also driving growth especially in green areas such as emission free electric coaches and buses.
The push by Chinese coach manufacturers such as Zhengzhou Yutong Bus Co Ltd, Anhui Ankai Automobile Company and Xiamen Golden Dragon Bus Co Ltd. Another reason for increasing demand is the smart city projects which utilize bus transportation systems.
If you would like to read more articles on this sort of topic then follow the eCoachManager blog pages. We strive to give you up-to-date industry news on anything that deals with the coach and bus market.
The objectives of this study were to forecast world sales, to add classifications of vehicles, to identify challenges and drivers for the world global bus market, to enquire into competitive developments, to analyse pricing and to identify leading players.
Global Market Share
From figures dating back to 2012 to the estimated close of 2017 the global bus market share by volume was dominated by the Asia-Pacific region. Europe has more or less constant share of market whilst South America is declining. The Middle East and Africa both saw increases in market share.
The forecasted growth figures from 2017 to 2022 see Asia-Pacific’s dominance continue, with North America’s figures strong along with Europe and the other regions more or less static.
The survey breakdown to actual percentages is: Asia-Pacific 36%, North America 24%, Europe & CIS 14%, Middle East 12%, South America 10%, and Africa 4%.
The Major Players
Following is a list of the world major players that operate in the global bus market today:
Anhui Ankai Automobile Company, Ashok Leyland Limited, Daimler AG, GAZ OAO, Gillig Corporation, Hino Motors, Hyundai Motor Company, Isuzu Motors, Irisbus Iveco, MAN Truck & Bus, Marcopolo S.A, Scania AB, Solaris Bus & Coach S.A, Tata Motors Limited, Volvo Bus Corporation, Xiamen Golden Dragon Bus Co., Xiamen King Long United Automotive Industry, Zhengzhou Yutong Bus Co., Ltd., Volkswagen AG, Toyota Motor Corporation, etc.
The Study’s Significance
The study is useful on several levels, and it is of use to certain segments including bus makers, their distributors and dealers, the customers who use buses and policy makers such as councils and governments.
The details of the study will identify growing market segments and those that are faltering.
The evidence is strong for the continued growth of the Chinese manufacturers Zhengzhou Yutong Bus and Xiamen King Long Motor Company. Yutong is the world’s largest bus manufacturer in the world and King Long is the second pushing once market leader Daimler down to third place.
But it should be noted that although Daimler is at number three, their production is a third less that that of Yutong.
The growth and projected continued growth of the Asia-Pacific region is for two reasons. Firstly the manufacturers in Asia can produce vehicles far cheaper than say Europe or North America.
Secondly the demand in Asia-Pacific for this type of transport is growing much faster than any other global region. The same comparison can be made with the car industry with the Japanese domination, another Asian success.