( PR4US.com | Press Release | 2017-03-27 23:06:16 )
The bus seat market is expected to be valued at USD 10.03 Billion by 2022, at a CAGR of 5.2% between 2016 and 2022. This market includes bus seats for different type of buses such as transit, coach, transfer, and others. The key drivers for the growth of this market include the rising demand for comfort and luxury, growing demand for advanced transportation, and increasing vehicle production.
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Governments across the world are actively involved in the development of faster and convenient modes of transportation by investing in the transportation sector. Buses play a vital role in the transportation system for connecting cities through roads. It brings cities closer, thus helping in improving productivity of businesses.
The market for school buses is expected to grow at the highest rate during the forecast period. School bus is a transportation medium that provides comfortability, safety, and eco-sustainability. The reason behind the high growth rate of the market for school bus is the rising adoption rate of bus services in this sector.
APAC is expected to hold the largest share of the bus seat market by 2022; the market in this region is expected to grow at the highest rate between 2016 and 2022. Rising demand for transportation for large population, urbanization, and increasing economic developments are driving the growth of the bus seat market in APAC.
The key players, operating in the bus seat market, profiled in this report are Aisin Seiki Co. (Japan), Faurecia (France), Freedman Seating Company (U.S.), Gantherm (U.S.), Harita Seating Company (India), Lear Corporation (U.S.), Magna International (Canada), NHK Springs, Co., Ltd. (Japan), Taichi-S Co. (Japan), and Toyota Boshoku Corporation (Japan).
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>Manufacturers of bus seats
>Dealers and distributors of bus seat systems
>Manufacturers and dealers of bus seat materials
>Equity research firms
>Private equity firms
This growth can be attributed to the high adoption of bus services due to high population and rising demand for luxury transportation in the tourism and private industries due to increasing disposable income. The rapid increase in population is leading to the rising demand for bus seats in China and India. Therefore, the bus seat market in APAC is expected to grow rapidly during the forecast period.