Bus Chassis Market size to hit USD 2.09 Bn by 2029 at a CAGR of 3.4 percent – Says Maximize Market Research
Bus Chassis Market is segmented into Type, Chassis Frame, Propulsion Type, End-User, and Sales Channel for the analysis of the market. Growing Population in Developing Countries and Increasing Demand for Electric Buses are expected to drive the Bus Chassis Market.
Pune, May 31, 2023 (GLOBE NEWSWIRE) -- A global Automotive and Transportation business-consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the “*Bus Chassis Market*”. The report is a combination of primary data and secondary data and domain expert has analyzed the Bus Chassis Market from a local as well as a global point of view. Over the forecast period, Maximize Market Research expects, the market to grow from USD 1.65 Bn in 2022 to USD 2.09 Bn in 2029 at a CAGR of 3.4 percent.*Bus Chassis Market Report Scope and Research Methodology*
*Market Size in 2022* USD 1.65 Bn.
*Market Size in 2029* USD 2.09 Bn.
*CAGR* 3.4 percent (2022-2029)
*Forecast Period* 2022-2029
*Base Year* 2022
*Number of Pages* 270
*No. of Tables* 115
*No. of Charts and Figures* 112
*Segment Covered* Type, Chassis Frame, Propulsion Type, End-User and Sales Channel
*Regional Scope* North America, Europe, Asia Pacific, Middle East and Africa, South America
*Report Coverage* Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
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The report is a thorough analysis of the Bus Chassis market provided with key findings including Pricing, investments, expansion plans, and physical presence in the Bus Chassis market. The bottom-up approach was used to understand the Bus Chassis market size estimation and growth rates in the report. The report provides information on the drivers, restraints, opportunities, and challenges of the Bus Chassis market. The financial standing, portfolio, technology adoption, merger and acquisition, joint ventures, and strategic alliances are included in the competitive environment for the Bus Chassis market.
Regional analysis of the Bus Chassis market conducted at a local, regional, and global level. For a segment-wise analysis of the Bus Chassis market, it is divided into, Type, Chassis Frame, Propulsion Type, End-User, and Sales Channel. The report also provides information on the emerging regions that are expected to be major markets for the Bus Chassis market.
The report includes primary and secondary collection techniques with qualitative and quantitative approaches for the analysis of the Bus Chassis market. The primary collection method includes surveys, questionnaires, and telephonic interviews with Bus Chassis market leaders and business owners. The secondary method includes financial reports, annual reports, press releases, white papers, etc. SWOT analysis is used to identify the threats and weaknesses of the market while PORTER is used to understand the competitive intensity of the industry in the Bus Chassis Market.
*Bus Chassis Market Overview*
Bus chassis is an integral part of the bus and it is also known as the support structure. It consists of the HCV axles, suspension, gearbox, transmission, structural underframe, engine, radiator, wheels, dashboard, steering wheel, and driver's seat. The bus chassis is the most important part of the bus structure which bears the highest load. It bears the weight of the vehicle in its dynamic as well as idle states and maintains the durability of the structural components and drive comfort. The chassis meets stiffness and strength needs to allow a safe drive under diverse traffic conditions.
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*Bus Chassis Market Dynamics*
The Bus Chassis Market is driven by the increasing demand for electric school buses, rising disposable income, and an increase in demand for public transportation. The growing research and development activities by key players, rising modernization and technological advancements in the automotive sectors, and increasing demand for luxurious buses from corporate offices as well as private bus fleet owners are also boosting factors for the Bus Chassis market growth. The increasing population has resulted in an increase in the demand for transportation and travels and efficient bus transportation solutions.
The increasing participation and investments by the key players to improve the bus chassis quality and for rising the production of the buses also drive the market. The increase in the demand for the bus chassis is due to its durability, lightweight and high-strength properties. The rising services sector and increasing trend of the pick and drop facilities for the employees lead to an increase in the demand for buses. The market growth is expected to be hampered by the increase in the traction of the passengers regarding the alternative modes such as waterways, air transport, and railways, over the forecast period.
*Bus Chassis Market Regional Insights*
Bus Chassis Market is broadly segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. In 2022, North America dominated the Bus Chassis Market with the largest share and is expected to continue its dominance during the forecast period. The regional market is driven by the increasing demand for electric buses, the presence of the largest key players, and increasing investment in manufacturing the bus chassis by the government. The United States is the major market for Bus Chassis. In the United States, the increasing demand for electric school buses due to bus Chassis has lower operations as well as maintenance costs.
Asia Pacific is expected to have a significant CAGR for the market over the forecast period. The increasing demand for public and private transit buses, rapid urbanization, growing use of the bus transportation systems, and rising disposable income are the factors that are responsible for the growth of the regional market. China is the major producer as well as exporter of vehicles. Approximately 70 percent of electric buses will be produced by Chinese giant BYD for Japan in 2022.
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*Bus Chassis Market Segmentation*
*By Type*
• Single Axle Bus Chassis
• Multi Axle Bus Chassis
o Twin-axle bus chassis
o Tri-axle bus chassis
o Quad-axle bus chassis
*By Type*
On the basis of the Type, the market is segmented into Single Axle Bus Chassis and Multi Axle Bus Chassis. Multi Axle Bus Chassis is expected to dominate the Bus Chassis Market with the largest market share over the forecast period. The legal weight barriers on each axle in several countries help to drive the Bus Chassis Market.
*By Chassis Frame*
• Ladder Frame Bus Chassis
• Tubular Space Bus Chassis
*By Chassis Frame*
On the basis of the Chassis Frame, the market is categorized into Ladder Frame Bus Chassis and Tubular Frame Bus Chassis. In 2022, the Ladder Frame Bus Chassis segment held the largest Bus Chassis market. Ladder Frame Bus Chassis has a degree of torsional stiffness which support the whole weight of vehicles and thus fuels the market growth.
*By Propulsion Type*
• Petrol Engine
• Diesel Engine
• CNG
• Electric
*By Propulsion Type *
Based on the Propulsion Type, the market is divided into the Petrol Engine, Diesel Engine, CNG, and Electric. Electric is expected to grow at the highest CAGR over the forecast period. The segment is driven by the increasing investment in electric buses by governments and key players. The electric bus reduces noise as well as pollution and it has lower operating cost compared to diesel buses. Thus, increasing preference for the electric bus to boosts the market growth.
*By End-User*
• Urban Buses
• Rural Buses
• School Buses
• Intercity Buses
• Articulated Buses
• Double Decker Buses
• Single Decker Buses
• Trolley Buses
• Low Floor Buses
*By Sales Channel*
• Online
• Offline
*Bus Chassis Market Key Competitors include:*
· Scania AB
· AB Volvo
· Volkswagen Group
· Ruili Science and Technology Company Limited of Peking
· Shiyan Yunlihong Industrial & Trade Co., Ltd.
· Corbeil Bus Corporation
· Guangxi Nanning Vision Mechanical & Electrical Co., Ltd.
· Thomas Built Buses, Inc.
· Wayne Corporation
· IC BUS
· HESS
· IVECO
· Yutong Australia
· Blue Bird
· Daimler Buses
· MAN Truck & Bus
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*Key questions answered in the Bus Chassis Market are:*
· What is a Bus Chassis?
· What is the CAGR of the Bus Chassis Market?
· What was the Bus Chassis Market size in 2022?
· What is the expected Bus Chassis Market size by the end of the forecast period?
· What are the global trends in the Bus Chassis Market?
· What are the major challenges that the Bus Chassis Market could face in the future?
· What growth strategies are the players considering to increase their presence in Bus Chassis?
· What are the upcoming industry applications and trends for the Bus Chassis Market?
· What are the recent industry trends that can be implemented to generate additional revenue streams for the Bus Chassis Market?
· Who are the leading companies and what are their portfolios in the Bus Chassis Market?
· Who dominates the largest market share in the Bus Chassis Market?
*Key Offerings:*
· Past Market Size and Competitive Landscape (2018 to 2022)
· Past Pricing and price curve by region (2018 to 2022)
· Market Size, Share, Size & Forecast by different segment | 2022−2029
· Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
· Market Segmentation – A detailed analysis by Type, Chassis Frame, Propulsion Type, End-User, Sales Channel and Region
· Competitive Landscape – Profiles of selected key players by region from a strategic perspective
· · Competitive landscape – Market Leaders, Market Followers, Regional player
· Competitive benchmarking of key players by region
· PESTLE Analysis
· PORTER’s analysis
· Value chain and supply chain analysis
· Legal Aspects of Business by Region
· Lucrative business opportunities with SWOT analysis
· Recommendations
*Maximize Market Research is leading* *Automotive and Transportation research firm, has also published the following reports:*
*Automotive Idler Arm Market** - *The market size is expected to reach USD 4.18 Bn by 2029 at a CAGR of 3.2 percent during the forecast period. The market is expected to be driven by increasing preference for light and heavy commercial vehicles and the growing number of advancements and innovations
*EV Test Equipment Market* *-* The market size is expected to reach USD 241.63 Mn by 2029 at a CAGR of 24.9 percent during the forecast period. The market is expected to be driven by government regulations and the development of fuel-efficient technology in the automotive sector.
*Electric Bus Market* *-* The market size is expected to reach 1,383,480 Units by 2029 at a CAGR of 43.2 percent during the forecast period. The market is expected to be driven by the increasing need for zero-emission and government support for public transportation electrification.
*Bus Rapid Transit System Market* *-* The market size is expected to reach USD 4.82 Bn by 2029 at a CAGR of 7 percent during the forecast period. The market is expected to be driven by demand for public transportation and the increasing adoption of electric and hybrid buses.
*Mounted Bearing Market* *-* The market size is expected to reach USD 2.11 Bn by 2029 at a CAGR of 5.8 percent during the forecast period. The market is expected to be driven by the increasing use of the Internet of Things and the mounted bearing has smart sensors with cyber security.
*About Maximize Market Research:*
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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