Abstract
Global bus demand to grow
5.4% per year through 2012 Worldwide demand for buses will advance 5.4 percent
annually to 437,000 vehicles in 2012 on the strength of significant increases
in the price of fuel worldwide. Demand for buses traditionally tends to be
cyclical and dependent on region-specific trends, such as demographics, income
levels, relative spending levels on mass transit systems, per-capita passenger
vehicle density, and others. However, with the dramatic rise in fuel prices
experienced in 2007 and 2008, the market has achieved a new footing, as
commuters in even vehicle-saturated markets such as the United States
increasingly choose mass transit over driving themselves. Buses represent one
of the most cost-effective methods for transporting passengers, and with
ridership rising as much as 30 percent year-on-year in some bus transit
systems, demand will increase as transit authorities, motor coach lines and
other bus operators place orders to augment their current fleets.
Other forces that will support bus demand include rising congestion levels in
major metropolitan centers worldwide, the establishment of dedicated bus rapid
transit systems and "bus ways" in key cities in Latin America and the Asia/
Pacific region, and the general economic expansions taking place in emerging
markets that require workers to travel further to reach jobs. Bus travel is
becoming more of a necessity for urban travelers worldwide as governments
enforce limits on the use of personal vehicles (both cars and motorcycles) to
reduce pollution and congestion levels.
Study coverage
It presents historical demand data (1997, 2002, 2007) plus forecasts (2012 and
2017) for supply and demand, as well as demand by type, in six regions and 21
countries. The study also assesses market environment factors, evaluates
market shares and profiles 38 industry players worldwide.
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