LONDON--(BUSINESS WIRE)--The global school bus market is expected to post a CAGR of over 2% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The increasing global population, especially in countries such as China and India, has led to a rise in the number of children enrolling in schools. This is resulting in the increased demand for schools and supporting infrastructure which includes transportation and other amenities. Thus, the growing number of school enrolments will increase the demand for school buses, leading to market growth during the forecast period.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR31320
As per Technavio, the technological innovations will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global School Bus Market: Technological Innovations
Vendors in the market are increasingly focusing on bringing new technologies to ensure the efficiency and safety of school buses. For instance, the market recently witnessed the introduction of passenger management systems which help in monitoring both the school children as well as the vehicle. Some of the key market players are also launching technological platforms that provide vehicle diagnostics on a real-time basis to enhance the reliability of these vehicles. The introduction of these innovations are likely to create a positive impact on the global school bus market during the forecast period.
“Increasing initiatives of the government toward the adoption of electric buses, and rising awareness of the advantages of school buses over other conventional modes of transportation are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Global School Bus Market: Segmentation Analysis
This market report segments the global school bus market by powertrain (ICE-powered and electric) and geography (APAC, Europe, MEA, North America, and South America).
North America led the market in 2018, followed by APAC, Europe, MEA, and South America, respectively. Rising focus on replacing aging vehicles and the expansion of existing fleets are some of the key factors that will drive the school bus market in North America. Furthermore, the introduction of new emission standards to improve fuel economy and growing focus on the adoption of electric vehicles will further drive the school bus market in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.