Global Bus Demand to Grow Nearly 5% Annually Through 2021

Global demand for buses is projected to increase 4.9% per year through 2021 to 623,000 units, an improvement over 2011-2016 market performance.  The number of buses in use worldwide is expected to reach 9.7 million units.  These and other trends are presented in Global Bus Market, 6th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.

Conventional fuel buses (principally diesel, although many smaller buses use gasoline) dominate world demand, accounting for nearly three-fourths of the 2016 unit market total.  However, sales of electric and hybrid buses will rise at the fastest pace of any product type through 2021, in a continuation of past trends, because of growing environmental concerns.  These product types:

• are much more fuel efficient and cheaper to operate
• have considerably lower maintenance costs
• run more quietly
• benefit from government initiatives around the world to encourage their purchase at the expense of conventional models

Worldwide demand for CNG/LNG buses is projected to climb at an impressive pace as well, bolstered by:

• low natural gas prices
• increasing availability of CNG/LNG buses in numerous markets
• development of more technologically advanced, better-performing models

Global Bus Market, 6th Edition (published 05/2017, 330 pages) is available for $6500 from The Freedonia Group.  For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].

Related studies include:

• #3490 Global Filters Market Forecast (March 2017)
• #3488 Global Diesel Engine Market, 5^th Edition (January 2017)