The global bus chassis market was estimated at US$11.813 billion in the year 2019. Bus chassis is an essential component that is used to support the load and provide structural support to the bus. The bus chassis includes the wheels, brakes, axles, suspension system, engine, etc. The chassis of the bus should be well developed and stronger with good load-bearing capacity so as to properly support the bus body under both static and dynamic conditions. There has been an increase in the usage of public transport and guided tourism services in some countries of the European Union and Brazil due to which the bus manufacturers are increasing the production of busses to increase their fleet size, which is causing the demand for bus chassis to rise, thus resulting in growth of the bus chassis market.
Furthermore, the increasing investments and participation of market players in order to improve the quality of bus chassis and to increase the production of buses further is also going to bolster the market growth over the forecast period. For instance, On August 1, 2019, Daimler announced that they received a purchase order of 44 Euro VI bus chassis from Transit Systems, which is an international transport company based in Australia. On April 5, 2018, Volvo Buses announced that they and Famco Al Futtaim Auto & Machinery Co (FAMCO) had received an order of 143units of the B11R bus chassis from Dubai, which was the first time the Euro VI-compliant buses would be used in the Middle East. Also, these buses would be equipped with the latest technologies like Intelligent Transport System (ITS) and fleet tracking.
The bus chassis market has been segmented based on axle type, bus type, and geography. By axle type, the market is segmented as two-axle and multi-axle. By, bus type the market is segmented as a single-decker, coaches, double-decker, and others.
Single axle to hold a significant share
By axle type, single axle buses are expected to dominate the market owing to the fact that this the most commonly used axle in the manufacturing to bus chassis.
Single Decker bus to hold a significant share
Single Decker buses have a single deck for passengers and are equipped with two axles generally. By bus type, Single Decker bus is expected to hold a substantial share owing to the fact that these are used most commonly for the transport of passengers in rural as well as urban areas and for applications such as coaches, school buses and short to medium distance travel
South America to remain a key market for bus chassis
By geography, South America is expected to hold a significant share in the market owing to the fact that the production of buses increased in Brazil from 20,463 to 28,536 from Q4 2017 to Q4 2018. In addition, in most of the EU countries, the production increased from 8,285 to 9,626 from Q4 2017 to Q4 2018 (Source: OICA).
Some of the major companies mentioned as a part of this report are MAN, AB Volvo, and Daimler.
Segmentation
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