Bus Seat Market – Global Industry Analysis and Forecast (2023-2029)

Bus Seat Market was valued at US$ 12.49 Bn. in 2022. Global  Market size is expected to grow at a CAGR of 5.1% through the forecast period.
Bus Seat Market Overview:
The increase in population, Rapid urbanization led to increase in public transports. Also government is promoting public transport due to the environmental issues, the global bus production market is expected to grow at 16.1% CAGR, and it is expected to impact the bus seat production market. Therefore, market is expected to grow through the forecast period.

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As environmental issues are increasing government is promoting electric and hybrid buses, Due to technological advancements manufacturers are focusing towards production of light weight seats with sub charging ports, horizontal movement of seats ,vertical handles on backseat expected to increase the demand for market.

As major countries are providing free transport under the government regulations, According to MMR research governments expects to invest 4.1 Bn for renovation of bus network, it is expected to directly impact the market.

In Market there are several local players, high competition and pressure of margin. Therefore, major players are expanding their alliances in markets like India due to low labour costs. Moreover this trend in the industry is expected to impact the bus market through forecast period.

Covid 19 pandemic has significant impact on market, Government regulation to shut down transport and manufacturing plants to reduce the impact of Covid 19 has significantly declined the growth of market, Further in post Covid 19 ,The bus market is expected to grow through forecast period.
Bus Seat Market Dynamics:
The increase in growth of economy due to industrialization and adoption of new technologies in manufacturing sector, these activities causing increase in environmental issues, which led to increase in global warming and pollution. Thus governments are planning to promote eco-friendly and biodegradable materials to manufacture bus seats and accessories. Therefore it creates opportunity for manufacturers to grow through forecast period.

Buses are the most used mode of transportation in many developing countries as they are easily accessible. Most of buses that used in transportation people are operational more than decade therefore, seats in these old buses gets damage due to regular usage, As replacement of these seats is not an affordable option for sustainable business, this increases the operational cost of bus manufacturing companies hence it restrains the growth of market.

Bus seats are made up of mainly two types of materials such as eco-friendly and non-eco-friendly materials, as environment friendly materials are manufactured after many research and developments hence the cost of production increases which increases the selling price of the product. Moreover, these materials are expensive to produce and requires expensive machineries hence this becomes the challenge for market to grow through the forecast period.

The major segment in market is school bus market, due to road accidents Passenger safety becomes the crucial point. To increase the safety manufacturers are focusing towards safety advanced technologies to make safety seats which is helpful in reducing the damage. market is expected to grow through forecast period, as this creates opportunity in new segment.
Bus Seat Market Segment Analysis:
By Type, The market is classified into standard and recliner. Standard seat market holds the largest share in market. Standard seats are the regular passenger seats which are used in almost all types of buses around the world.

Modern seats are manufactured by using eco-friendly materials. As Covid 19 is departing and public transportation is returning to normal the demand for standard market is expected to grow through the forecast period.

By component, the market is segmented into Frame, Upholstery. Frames of bus seat holds the largest market share in the component segment. Frames of bus seat are made up of various metals such as aluminium steel and alloys. As these are expensive materials which increases the cost of manufacturing the product. Further these frames are helpful in holding the structure of seat which provides safety and security to the occupant.
Regional Insights:
Asia pacific region is expected to dominate the market through the forecast period, As these region has major market participants such as Ashok Leyland, Tata Motors, in addition to it seat manufacturers such as Harita seating company, Toyota Boshoku Corp are present in the region. Moreover, Local Governments are promoting production electric buses, which helps in growing the market through the forecast period.

The objective of the report is to present a comprehensive analysis of the Global Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Market dynamic, structure by analyzing the market segments and projecting the Bus Seat Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Market make the report investor’s guide.
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Bus Seat Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 12.49 Bn.


Forecast Period 2023 to 2029 CAGR:
5.1%
Market Size in 2029:
US $ 17.70 Bn.


 Segments Covered:
by Type
Standard
Recliner


by Component
Frames
Upholstery


by Bus Type
Transit bus
Coach bus
School Bus
Transfer Bus
Other



Bus Seat 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 (razil, Argentina Rest of South America)
Key Players:
1. NHK Springs (Japan)
2. Toyota Boshoku (Japan)
3. Tachi-S (Japan)
4. Minda Industries (India)
5. Commercial Vehicle Group (US)
6. Lazzerini SRL (Italy)
7. Freedman Seating Company (US)
8. GRAMMER AG (Germany)
9. Faurecia (France)
10. Magna International Inc. (Canada)
11. Volvo (Sweden)
12. Scania (Sweden)
13. Caetano (Portugal)

Frequently Asked Questions:

1] What segments are covered in the Global Bus Seat Market report?
Ans. The segments covered in the Bus Seat Market report are based on Product Type and Component.

2] Which region is expected to hold the highest share in the Global Bus Seat Market?
Ans. The North America region is expected to hold the highest share in the Bus Seat Market.

3] What is the market size of the Global Bus Seat Market by 2029?
Ans. The market size of the Bus Seat Market by 2029 is expected to reach US$ 17.70 Bn.

4] What is the forecast period for the Global Bus Seat Market?
Ans. The forecast period for the Bus Seat Market is 2023-2029.

5] What was the market size of the Global v Market in 2022?
Ans. The market size of the Bus Seat Market in 2022 was valued at US$ 12.49 Bn.