Freedonia In The News
Article Title: Report: Bus market to grow 5% annually
Publication: METRO Magazine, 12/5/2012
Freedonia Study: World Buses (2933)
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The world market for buses is projected to grow 5% annually to 632,000 units in 2016, approaching $64 billion in sales, according to “World Buses,” a new study from The Freedonia Group Inc., a Cleveland-based industry market research firm.
Much of the gains will be attributable to Type C school buses, demand for which will skyrocket from 26,000 units in 2011 to 70,000 units in 2016. The increase will largely be driven by market advances in China, where sales of Type C buses will expand rapidly from a small existing base because of safety concerns about other types of buses currently used to transport students. Growth in demand for motorcoaches, transit buses and all other buses will, in the aggregate, be much more moderate, averaging 3.7% per year through 2016, a pace consistent with longer term trends.
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