Electric Airport Buses Spark Growth in Global Airport Bus Market, Projected Valuation of $1,698.70 Million by 2032
Dublin, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The "Airport Bus Market Share, Size, Trends, Industry Analysis Report, By Type, By Sales Channel, By Application, By Region, Segment Forecast, 2023- 2032" report has been added to * ResearchAndMarkets.com's* offering.
The global airport bus market is poised for significant growth, with an expected valuation of USD 1,698.70 million by 2032. This comprehensive report provides valuable insights into current market dynamics and an analysis of future market growth prospects.
*Transition to Electric Airport Buses Drives Market Growth*
Modern airports are increasingly adopting cutting-edge technologies and systems to reduce their carbon footprint. A significant driver of this transformation is the rapid replacement of old diesel-powered airport buses with new electric buses. Manufacturers are focusing on launching electric airport buses to contribute to carbon-free cities, fueling market growth over the forecast period.
For example, in September 2022, COBUS Industries launched COBUS VEGA, an electrically-powered airport bus designed to assist airports worldwide in their efforts to eliminate carbon emissions. This environmentally friendly initiative is backed by the German business COBUS Industries and manufactured by the Portuguese company CaetanoBus.
*Environmental Focus Spurs Adoption of Electric Buses*
In October 2022, Newcastle Airport took a significant step towards achieving its net-zero status by 2035 by introducing its second airside bus—a Yutong ABe14 electric model provided by Pelican Bus and Coach. This electric bus replaces an older diesel model and is expected to reduce carbon dioxide emissions by up to four tonnes annually. The adoption of electric airport buses is gaining traction among both public and private airports, aligning with zero-emission objectives.
*Advantages of Electric Buses*
Airports are increasingly prioritizing the adoption of electric buses, known for their eco-friendliness and minimal environmental impact. For example, in July 2022, Madinah's Prince Muhammad International Airport in Saudi Arabia introduced environmentally friendly buses entirely powered by electricity. These buses are equipped with advanced technological features, including four cameras to record all internal activities. Such initiatives are driving the market's growth.
*Market Dynamics*
*Drivers and Opportunities*
· Growing need for connectivity and seamless integration with smart devices
· Rising environmental consciousness and the demand for sustainable products worldwide are driving the growth of eco-friendly Airport Bus at rapid pace.
*Restraints and Challenges*
· High cost of Airport Bus limit the market growth
*Airport Bus Market Report Highlights*
· International Airport Segment: Anticipated to experience significant growth due to the extensive area covered by international airports.
· Fuel Airport Buses: Account for the largest revenue share, driven by their widespread availability.
· North America Growth: Expected to witness substantial growth due to the increasing popularity of airport buses in the region and expanding airport infrastructure.
*Key Market Players*
Key players in the airport bus market include AB Volvo, BYD Company, COBUS Industries, Isuzu Motors, Scania, Toyota Motor, Volkswagen, Weihai Guangtai Airport Equipment, and Yutong Bus.
*Market Segmentation*
The market report is segmented based on the following criteria:
Airport Bus, Type Outlook (Revenue - USD Million, 2019 - 2032):
· Electric
· Fuel
Airport Bus, Sales Channel Outlook (Revenue - USD Million, 2019 - 2032):
· Direct Sales
· Distributor
Airport Bus, Application Outlook (Revenue - USD Million, 2019 - 2032):
· Domestic Airport
· International Airport
Airport Bus, Regional Outlook (Revenue - USD Million, 2019 - 2032):
· North America: U.S. and Canada
· Europe: Germany, UK, France, Italy, Spain, Russia, and Netherlands
· Asia Pacific: China, India, Japan, South Korea, Indonesia, and Malaysia
· Latin America: Argentina, Brazil, and Mexico
· Middle East & Africa: UAE, Saudi Arabia, Israel, and South Africa
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 112
Forecast Period 2023 - 2032
Estimated Market Value (USD) in 2023 $753.66 million
Forecasted Market Value (USD) by 2032 $1698.7 million
Compound Annual Growth Rate 9.4%
Regions Covered Global
For more information about this report visit https://www.researchandmarkets.com/r/kzhuej
*About ResearchAndMarkets.com*
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*Attachment*
· Airport Bus Market
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