Press release
Market for bus transmission system expanding at robust rate on account of largest end-user of public transport
The global market for bus transmission system has been expanding at a robust rate on account of the voluminous amount of passengers using public transport across several regions.Bus transmission systems have acquired a level of sophistication as governments have made huge-scale investments towards enhancing the public transport system across regions.
Furthermore, the depletion of natural resources including fossil fuels has necessitated the use of public transport to conserve fuels for the future generations.
This has also created commendable demand within the global market for bus transmission and has given a global playfield to the market vendors. It is anticipated that the global market for bus transmission would undergo key advancements as the working population across the world increases.
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Bus transmission systems come in handy for schools, universities, and colleges, and this factor further propels demand within the global bus transmission system market.
Moreover, the lower-income groups who cannot afford to buy personal vehicles also rely on bus transmission systems for their daily commutes. This is another major driver of demand within the global market for bus transmission.
Public transport is preferred by people in the western countries such as America, England, France, and Germany. For this reason, the demand within the regional markets of Europe and North America has touched new heights.
Fact.MR has come up with a research report on the global bus transmission system market, highlighting drivers, restraints, opportunities, and trends impacting this landscape.
The research study delivers holistic analysis on global bus transmission system market over the forecast period 2018-2027.
Prominent players participating in the manufacturing of transmission system have been profiled in this report.
Additionally, analysis of key company’s product portfolio, key financials, SWOT, and key strategies to gain competitive advantages have been included in the report.
Some of the leading market participants profiled in the report include Mercedes, MAN SE, Iveco, Volvo, Tata Motors, Ashok Leyland. In addition, key developments and innovations of these companies have been incorporated in this report.
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Buses are the essential form of rural and urban passenger transport across the globe. Growth in population, rising focus on environmental issues, and shifting mobility patterns are changing face of public transport.
They also play a crucial role in connecting various modes of urban transit. Further, buses are one of the most affordable mode of passenger transport.
As developing economies around the globe focus on revamping their public transport infrastructure, it is highly likely that reliance on personal modes of commute, such as cars and two-wheelers will witness a decline.
Demand for buses that are fuel-efficient, light-weight, and comfortable is likely to gain traction during the assessment period.
Bus Transmission Market: Key Developments in Competitive Landscape
Currently, tourism industry is experiencing a strong growth due to increases number of foreign and residential tourists and it is the largest end-user of transmission systems.
To accommodate increasing requirement of buses from tourism sector, manufacturers are focusing on increasing their production capacity.
For instance, Ashok Leyland has lined up series of investments for the year ahead which will be utilized for the development of new vehicles and to improve technology.
The automotive giant has recently started construction of new production facility in Andhra Pradesh. This manufacturing facility is likely to be utilized for the manufacturing of buses and trucks.
Bus Transmission Market: Key Product Launches
Toyota has developed a new manual 6-speed transmission system, especially for European market. The key feature of this advanced transmission system is its lower weight and reduced size.
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According to Toyota, the new system is 7 kgs lighter and 24 shorter as compared to existing versions. The system is touted as one of the smallest transmission across the globe.
Owing to its reduce size and weight, it is likely to offer better fuel-efficiency. This transmission system comes equipped with intelligent manual transmission controls (iMT) that ensures smooth gear shift by automatically adjusting engine revolutions when changing gears.
The innovations in the development of bus transmission systems are likely to open new avenues of growth for market participants.
Bus Transmission System Market Opportunities for Market Participants
Government offices, private schools, various companies and hospitals provide transportation facility to their employees, students and patients.
Increasing competition between private companies to provide transportation facilities to their employees will further increase demand for buses which ultimately will influence demand for transportation system.
In addition, retail e-commerce packaging and transportation is gaining high traction owing to rapidly growing e-commerce industry. Transportation of goods is usually carried out through trucks. Thereby, increasing demand for trucks will positively influence the growth of transmission system market.
However, stringent government regulations regarding green environment combined with growing awareness related to use of battery-operated vehicles among people will cause manufacturing of diesel-operated vehicles.
On the other hand, this trend will result in increased adoption of electric-buses, bringing opportunities for vehicle manufacturer to develop efficient and more powerful transmission system for electric-buses.
Bus Transmission System Market: Key Restraints
Driving on congested roads and heavy traffic continues to be a challenge for bus drivers. The challenge becomes more pronounced when drivers are using manual transmission systems.
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Although automatic transmission systems have reduced these challenges to an extent, high cost of such systems continues to be a barrier to widespread adoption.
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