LONDON, April 6, 2016 /PRNewswire/ -- This Frost & Sullivan research service studies the impact of Mega Trends, industry convergence implications, and autonomous public transport business models on the global heavy-duty (HD) transit bus market. It also provides an in-depth analysis of the key regional markets, including China, Europe, India, North America, Latin America, and Rest of World. In this study, Frost & Sullivan's expert analysts thoroughly examine the growth opportunities in the market, discuss the important regional trends influencing the market, and offer forecasts for key global markets.
- Conventional and bus rapid transit (BRT)
It also analyzes the following powertrain segments of HD transit buses:
- Natural gas (compressed natural gas (CNG)/liquefied petroleum gas (LPG))
- Plug-in hybrid
- Pure electric
- Trolley bus
Hybrid and Electric Buses to Surpass Sales of Diesel Buses in the Global Transit Bus Market by 2022
The economic challenges in Russia and Latin America have affected the global HD transit bus market, forcing local transit authorities and governments to defer the modernization of bus fleets. However, this situation is set to change by 2018, as Latin America, Russia and Africa are expected to bounce back from the slowdown. Additionally, Chinese and European markets, which look for cost-effective means to reduce emission, will opt for fleet replacement with hybrid and electric buses.
China, especially, has taken extensive measures to reduce emissions, by proposing that provincial administrations aim to convert more than 50 percent of its fleets to new energy buses. Driven by strong Government incentive programs in building and commissioning of plug-in/electric buses (e-buses), a large scale adoption is taking place in China. Additionally, this has made domestically-manufactured advanced e-buses affordable, as the original equipment (OE) and supplier networks are being established for product and technology development. With the evolving technology and consumer landscape, aided by the Government, Frost & Sullivan estimates that China will be the global hub for R&D and manufacturing of e-buses globally. Meanwhile, European OE manufacturers (OEMs) are moving east to establish R&D and manufacturing footprints in the Asia Pacific (APAC) and Association of South East Asian Nations (ASEAN) regions.
With the allocation of higher funds to improve infrastructure, establishment of BRTs, modernization of fleets, a new mid-price transit bus segment called 'value buses' is expected to be launched. These semi-low floor buses with improved safety and comfort features, intelligent ticketing system and real time tracking facility are expected to buoy the overall HD transit bus market.
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