Rising focus on travel and tourism with the entry of several bus companies in South America and the increasing demand for environment-friendly commute is the major factor driving the growth of South America Bus and Coach Market.
According to the TechSci Research report, “South America Bus & Coach Market-Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027F”, the market is expected to reach USD 3457.22 million, registering a CAGR of 6.73 % by 2027, because buses are most preferred way of transport for the daily commute to work. Moreover, the government initiatives for enhancing the public transport for the efficient service provided to passengers are also increasing the demand of buses.
Also, with the environmental concern regarding the pollution, the manufactures and government are also shifting toward the electric & alternate fuel to replace the dependency on the diesel/petrol powered vehicles. When compared to diesel vehicles, electrification lowers operating costs, increasing energy security, and lowering running costs are increasing the demand for electric bus and coaches.
There are many manufactures which are building innovate buses, which is also driving the demand of the buses and coach such as the double decker buses and new bigger length buses are coming with the ability to carry many passengers. The autonomous bus is a major trend that is growing in prominence in the market for buses and coaches. The number of driverless bus pilots is increasing, and many manufacturers have already announced the launch of autonomous bus.
In South America, buses are convenient and effective. There always seems to be a bus leaving from your location at the ideal moment. In some locations, you can call them from the station or you can get on it immediately from the highway.
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The South America Bus and Coach market can be segmented based on length, application type (By Type of Buses), application type (By type of usage), by seating capacity, by fuel type, by body type, and by region. Based on length, the 10-12m segment currently dominates the South America bus and coach market with most of the market share because these types of buses and coaches’ length are used in public transport and for long-distance travel. Based on Application type (Type of buses), the motor coach has highest share in type of buses because it is majorly used in the public transport and in the application type (type of usage). Public transport has the highest percentage in term of usage of buses and coaches because people use public buses for everyday usage and it is affordable as well. In the fuel type, the diesel-powered buses and coaches have the highest share because of the low prices of diesel and the power performance of diesel engine in long distance travel although with the increasing concern toward emission, there is a rise in electric and alternate fuel type as well. In the body type, the customised sector has the major share because many manufactures and bus company customised their buses due to the varying demand of the consumer. By region, Brazil has the major share in bus and coach market due to its high population.
Some of the major players operating in the South America Bus & Coach Market include:
- Mercedes-Benz Group AG
- Volkswagen AG
- Agrale S.A.
- Industrial Vehicles Corporation (IVECO)
- The Volvo Group
- Hyundai Motor Group
- General Motors (Chevrolet)
- Mitsubishi Fuso Truck and Bus Corporation
- Hino Motors Ltd.
- King Long United Automotive Industry Co., Ltd.
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“With the concern toward the environmental situation, manufactures are innovating, and government is promoting eco-friendly buses and coaches. Also, government initiatives to enhance the public transport along with the on growing demand of bus & coach services and the introduction of advance technology in the vehicles will generate new opportunities in the market”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
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“South America Bus and Coach Market by length (10-12m,6-8m,8-10m and above 12m), By Application Type (By type of buses) (Motor Coach, Mid Coach, Mini Coach, Shuttle Bus, Double Decker Bus, and Others), By Application (By Type of Usage) (Public Transport, Office Bus, School Bus, Tourist Bus and Others), By Seating Capacity( 41-50, above 50, 31-40 and up to 30), By fuel type (Diesel, Petrol, Electric & Hybrid, Alternate fuels, and Fuel Cell), By Body type (Customisable, Fully Built) , By Region, Competition Forecast & Opportunities, 2017- 2027F, has evaluated the future growth potential of South America Bus & Coach Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the South America Bus and Coach market.
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