Global Bus Transmission System Market - Drivers and Forecasts by Technavio

Technavio has published a new report on the global bus transmission system (BTS) market from 2017-2021. (Graphic: Business Wire)

LONDON--()--Technavio analysts forecast the global bus transmission system (BTS) market to grow at a CAGR of more than 3% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global bus transmission system market for 2017-2021. The market is segmented based on geography, including APAC, EMEA, and the Americas.

Technological advances and developments in the automotive powertrain technologies, especially innovations in BTS will contribute to the growth of the market. The demand for fuel-efficient vehicles by governments for public transports, strictly considering the need for reducing fuel consumption and effects of carbon dioxide emission on the environment, has made them implement norms. Also, the bus industry has still not reached its maturity stage owing to the increased demand from people for advanced public transports to avoid drastically increasing accidents and traffic congestions.

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Technavio automotive research analysts highlight the following three factors that are contributing to the growth of the global bus transmission system market:

  • Increasing traffic congestion in developed and developing nations, leading to rise in public transports
  • Rising demand for luxury buses and coaches
  • Growth in emerging markets to drive growth of AT systems in commercial vehicles

Increasing traffic congestion in developed and developing nations, leading to rise in public transports

Road traffic jams continue to be a major hurdle in most of the developed economies across the globe, which leads to delays, monetary loss, and fuel wastage. Some of the countries that face high traffic congestion by average congestion levels for 2014 are Poland, Turkey, Brazil, China, New Zealand, the UK, Italy, Canada, the US, France, and Belgium. In Japan and India, the traffic congestion is the result of an increase in migration to urban cities and population density.

Siddharth Jaiswal, a lead powertrain research analyst at Technavio, says, “In the US, 97% of the population prefer to move during the rush hours in their private vehicles. One of the reasons is that most of the Americans live in low-density areas where public transport does not serve efficiently, and most of the private-owned vehicles are comfortable, convenient, and faster than public transport.

Rising demand for luxury buses and coaches

Global bus and coach manufacturing are in the growth phase, driven by economic growth in the emerging nations, especially in countries like China and India, where demand for public transport is high. Furthermore, as the demand for intercity transportation grows, there is a rising demand for luxury bus and coaches globally.

Mercedes-Benz introduced its intercity luxury coach segment in India in 2008. Earlier, luxury coaches were imported but recognizing the potential of the premium bus market in India, Daimler Buses in 2015 began manufacturing rear-engine buses under the Mercedes-Benz brand in Chennai, India. Also, Daimler has launched its luxury coach segment based on the O500 platform,” adds Siddharth.

Growth in emerging markets to drive growth of AT systems in commercial vehicles

Varying market conditions and strict norms on emission are some of the macro and micro conditions negatively affecting the heavy bus market in triad countries, while, emerging markets like China and India have, however, been experiencing growth in the heavy-duty vehicles market due to increasing investment in infrastructure, economic expansion, and increasing transport volumes.

There is an increasing preference for AT systems in emerging economies such as China and India. In India, the medium and heavy commercial vehicle (M&HCV) buses are increasingly adopting AMT and HVT systems. This push for highly fuel-efficient and lowered emission vehicles, especially heavy-duty vehicles, will drive the growth of AT market in these emerging countries.

Top vendors:

  • AISIN
  • Allison Transmission
  • Eaton
  • Voith
  • ZF Friedrichshafen

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global bus transmission system (BTS) market to grow at a CAGR of more than 3% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com