Global Bus Demand to Grow Nearly 5% Annually Through 2021

CLEVELAND, May 16, 2017 /PRNewswire/ -- 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

More information about the study is available at https://www.freedoniagroup.com/industry-study/global-bus-market-by-product-and-fuel-type-6th-edition-3509.htm

Related studies include:

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

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning.  Additional Automotive & Transportation studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

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SOURCE The Freedonia Group