“Bus seat market to grow at a high CAGR of 5.2% between 2016 and 2022”
The bus seat market is expected to be valued at USD 10.03 billion by 2022, growing at a CAGR of 5.2% between 2016 and 2022. The major reason for the growth of the bus seat market is the increasing demand for comfort and luxury, high investments in bus transportation by governments, and expansion in tourism and private bus transportation services. The rising demand for bus seat for transit, transfer, school, and coach buses have increased the growth opportunities for the bus seat market.
“School buses to hold a large market share”
Due to high demand for bus transportation in schools, the bus seat market for school buses is high, and this trend is expected to remain the same in the future. These buses are mainly focused on the safety and comfort for children. Also, the demand for school buses is increasing globally as buses are safe and convenient way for children to travel. These factors are likely to propel the growth of the bus seat market for school buses.
“APAC expected to be the fastest-growing market during the forecast period”
This report covers the said market in North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The market in APAC is expected to grow at the highest rate between 2016 and 2022. The high adoption rate of bus transportation services due to high population and increasing demand for transportation mediums are some of the important factors that have contributed to the growth of the bus seat market in APAC.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
- By Designation: C-Level Executives - 35%, Directors- 25%, and Others - 40%
- By Region: North America - 45%, APAC - 30%, Europe - 20%, and RoW - 5%
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).
Reasons to Buy the Report:
- This report includes the market statistics pertaining to bus type, seat type, comfort type, and geography, along with their respective market size.
- The Porter’s five forces framework has been utilized, along with the value chain analysis, to provide an in-depth insight into the bus seat market.
- Major drivers, restraints, challenges, and opportunities for the growth of the bus seat market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for the market, based on bus type, seat type, comfort type, and geography, have been conducted to give an overall view of the bus seat market.
- A detailed competitive landscape, including key players, in-depth analysis, and revenue of key players, have been included in the report.