Bus Chassis Market: Growing Population in Developing Countries to contribute to the Market Growth

Global Bus Chassis Market size was valued at USD 1.65 Billion in 2022 and is expected to grow at a CAGR of 3.4 percent from 2023 to 2029 to reach USD 2.09 Billion.
Bus Chassis Market Overview
In Bus Chassis, the whole engine is fitted in the driver’s cabin, which provides an increased floor space in the bus. The chassis meets precise stiffness and strength requirements in order to allow a safe drive under the most diverse traffic conditions. They account for around 33 percent of the total weight of the bus in its overall structure. It is the most important element of the bus structure that bears the highest load. Further, the report provides an in-depth analysis of the Bus Chassis Industry including regional insights, dynamics, key players in the industry, competitive landscape, market size by region and segment, market share by region and country, region-wise CAGR, etc.To know about the Research Methodology :- Request Free Sample Report
Bus Chassis Market Dynamics
As per the research by United Nations Economic Commission for Europe, the smaller the remaining safety space for passengers, which is decreased when the bus overturns, the more chances of passengers getting injured and crushed are created. So, governments and bus chassis manufacturers are investing in research and development to offer innovative and technologically advanced bus chassis designed according to the driver and passengers’ safety and comfort needs.

The demand for bus chassis is increasing because of the increasing demand for electric school buses. This is attributed to the benefits associated with it such as the use of it reduces the CO2 emissions and potentially acts as mobile generators in an emergency. Influenced by these benefits policymakers and communities are advocating for electric school buses, which has resulted in commitments to electrification. The Bus Chassis Market is majorly driven by the increasing demand, production and sales of buses due to the global increase in the population.The recent advancements and technological developments due to the high investments by key players in research and development with supportive government initiatives are largely contributing to the Bus Chassis market growth. The extra axles are provided on shorter buses and coaches too, which accommodate extra equipment loads such as passenger lifts or comforts such as televisions, toilets and climate controls due to which the demand for multi-axle bus chassis is increasing. The vehicle licensing authorities of different countries have set legal limits on the amount of weight that is to be put on each axle. Axles to the chassis designs are added for specific reasons such as legalities or weight. Extra Axle requires extra costs for the operator in terms of tire replacement and high fuel consumption. In Hong Kong and Singapore, Tri-axle double-decker buses are commonly used because of the high-capacity operating environment. The volume of Tri-axle buses is high in Ireland and Dublin.

According to the study, sales of zero-emission buses are expected to increase to over 80 percent of the global market. MAN Truck & Bus offers electric bus solutions for international markets with their eBus chassis, which is their recent product development.

The demand for Bus Chassis is mainly increasing because of the growing global population, which is resulting in the increase in demand for travel and transportation. The growing urbanization is also leading to high demand for efficient and reliable bus transportation solutions. The rapidly growing service sector in various countries and the rising trend of providing pick-and-drop facilities to employees are the factors driving the demand for buses in turn resulting in the increase in demand for bus chassis.
Bus Chassis Market Regional Insights
The Bus Chassis Market in the North America region held the major share of the market in 2022. In the United States, the demand for electric school buses is increasing majorly because of the benefits associated with it such as having the potential to lower operations and maintenance costs and zero tailpipe emissions. In 2021, SEA Electric and Midwest Transit Equipment worked in a partnership to convert 10,000 school buses to electric over five years. California has been awarded over USD 116 million for electric school buses through its California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (California HVIP 2022). The Volkswagen settlement funds make up over one-third of state public funding for ESBs in most states.

During the forecast period, the Asia Pacific Bus Chassis Market is expected to grow at a high rate. In 2022, the region was the largest market for electric buses (105,021 units). China is the leading producer and exporter of vehicles. A large number of vehicles are used in its transport system. The Chinese giant BYD produced approximately 70 percent of electric buses for Japan in 2022. In South Korea Chinese buses accounted for around half of the market. The country’s bus chassis market grew majorly because of government initiatives such as the provision of a subsidy to a local public bus operator of about 500,000 yuan for each vehicle that ran each year and 500,000 yuan for buses that ran more than 60,000 km.

The European Bus Chassis Market is expected to hold the major market share as the region includes leading automotive manufacturers. In the region, the imported tri-axle buses are highly initially by Megabus for high capacity low-cost intercity travel in the UK. As per the research, MAN Truck & Bus a leading European company will offer an e-bus chassis for the global market in the future. This is based on proven technologies from the Lion’s City E that, which is already operating successfully in several European countries.
Bus Chassis Market Segment Analysis
Based on Type: The market is divided into Single Axle Bus Chassis and Multi Axle Bus Chassis. During the forecast period, the Multi Axle Bus Chassis segment is expected to hold the largest Bus Chassis Market share. The adoption of Multi Axle buses Chassis is increasing mainly because of the legal weight restrictions on each axle in different countries and to accommodate different bus designs such as articulation. Among multi-axle bus chassis, the twin axle bus chassis are high in demand due to the increasing urban population across the world leading to an increase in public transportation.

Based on Chassis Frame: The market is divided into Ladder Frame Bus Chassis and Tubular Frame Bus Chassis. The Ladder Frame Bus Chassis segment held the largest market share in 2022. This is attributed to its feature such as having a degree of torsional stiffness that bear the entire vehicle’s weight. The Tubular Frame Bus Chassis is very expensive and complicated to manufacture but having the advantage of high deformation stability with low weightage is expected to increase the demand for it.

Based on Propulsion Type: The market is divided into Petrol Engine, Diesel Engine, CNG and Electric. In 2022, the Petrol Engine segment held the largest share of the market while the Diesel Engine segment is expected to grow at a high rate during the forecast period. The Electric segment is also expected to grow at a high rate during the forecast period due to the high investments in electric buses by key players and governments across the world. People are investing in the segment majorly to reduce CO2 emissions and pollution. The aim of each Federal Agency is to acquire Zero-Emission Vehicles for 100 percent of all light duty vehicles by 2027 and all medium and heavy duty vehicles by 2035. This is expected to achieve by planning, collaboration and coordination, informed by agency mission and funding.
Bus Chassis Market Competitive Landscape
This section of the Bus Chassis Market report includes mergers, acquisitions, partnerships, joint ventures with the revenue of Bus Chassis key competitors, their product portfolio, financial position, etc. SWOT analysis was conducted to provide the strengths and weaknesses of the Bus Chassis Suppliers and Manufacturers in the industry with challenges and threats prevailing and upcoming for them in the market.

Yutong’s per day manufacturing capacity of buses is 445 and 65000 average buses are made per year. It boasts a market share of more than 32 percent in China with four modern manufacturing bases. Creative Bus Services, the largest bus and transportation services vehicle dealer collaborated with Forest River Bus to address the transportation crisis in the United States for various including a shortage of chassis and components necessary to build buses, supply constraints for suppliers and a labor shortage leading to low inventory, increase in bus prices for organizations and municipalities and extended delivery times. In 2022, Blue Bird partnered with Lightning eMotors to bring new chassis to the market. In 2021, Daimler Buses launched bus chassis for chartered transport services on the Brazilian market, which is particularly suitable for charter transport. In the first quarter of 2023, the Daimler buses reported a 55 percent growth in their sales.

Recently in 2023, Volvo Buses signed a Letter of Intent (LOI) with the bodybuilder MCV (Manufacturing Commercial Vehicles) to produce parts of electric buses in the European Market. The production has been planned to start in 2024 and the expected deliveries of the first electric buses to customers in Europe at the beginning of 2025.
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Bus Chassis Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 1.65 Bn.


Forecast Period 2023 to 2029 CAGR:
3.5%
Market Size in 2029:
US $ 2.09 Bn.


 Segments Covered:
by Type
1.Single Axle Bus Chassis
2.Multi Axle Bus Chassis
1.1.Twin-axle bus chassis
1.2.Tri-axle bus chassis
1.3.Quad-axle bus chassis



by Chassis Frame
1.Ladder Frame Bus Chassis
2.Tubular Space Bus Chassis


by Propulsion Type
1.Petrol Engine
2.Diesel Engine
3.CNG
4.Electric


by End-User
1.Urban Buses
2.Rural Buses
3.School Buses
4.Intercity Buses
5.Articulated Buses
6.Double Decker Buses
7.Single Decker Buses
8.Trolley Buses
9.Low Floor Buses


by Sales Channel
1. Online
2.Offline



Bus Chassis Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Bus Chassis Key Players include:
1.Scania AB
2. AB Volvo
3. Volkswagen Group
4. Ruili Science and Technology Company Limited of Peking
5. Shiyan Yunlihong Industrial & Trade Co., Ltd.
6.Corbeil Bus Corporation
7.Guangxi Nanning Vision Mechanical & Electrical Co., Ltd.
8. Thomas Built Buses, Inc.
9. Wayne Corporation
10.IC BUS
11. HESS
12.IVECO
13. Yutong Australia
14. Blue Bird
15. Daimler Buses
16.MAN Truck & Bus

Frequently Asked Questions

1] What is the expected CAGR of the Global Bus Chassis Market during the forecast period?
Ans. During the forecast period, the Global Bus Chassis Market is expected to grow at a CAGR of 3.4 percent.

2] What was the Bus Chassis Market size in 2022?
Ans. USD 1.65 Bn was the Bus Chassis Market size in 2022.

3] What is the expected Bus Chassis Market size by 2029?
Ans. USD 2.09 Bn is the expected Bus Chassis Market size by 2029.

4] What are the Bus Chassis Market segments?
Ans. The market is divided by Type, Chassis Frame, Propulsion Type and End-User.

5] Which region’s Bus Chassis Market share is expected to increase at a high rate during the forecast period?
Ans. The Bus Chassis Market share of Asia Pacific is expected to increase at a high rate during the forecast period.

6] Who are the key players in the Bus Chassis Industry?
Ans. Scania AB, AB Volvo, Volkswagen Group, Ruili Science and Technology Company Limited of Peking, Shiyan Yunlihong Industrial & Trade Co., Ltd., Corbeil Bus Corporation, Guangxi Nanning Vision Mechanical & Electrical Co., Ltd., Thomas Built Buses, Inc., Wayne Corporation, IC BUS, HESS, IVECO, Yutong Australia, Blue Bird, Daimler Buses, MAN Truck & Bus