Growing population and rising urbanization coupled with increasing demand for electric & CNG buses is expected to drive Saudi Arabia bus market through 2025
According to TechSci Research report, “Saudi Arabia Bus Market By Bus Length (Up to 8 M, 8-10 M, 10-12 M, & Above 12 M), By Seating Capacity (15-30, 30-40, 40-50 & Above 50), By Fuel Type (Diesel, Petrol, CNG, Others), By Application (Transit Buses, Motor Coaches & School Buses), Competition, Forecast & Opportunities, 2025”, the bus market in Saudi Arabia was valued USD 13.51 Billion in 2019 and is forecast to grow at CAGR of 8.52% in value terms over the next five years. This is due to the reason that buses are the only means of public transport in some of the cities in Saudi Arabia. Increasing demand for public transportation among growing population and worsening traffic congestion are other reasons for the growth of bus market in the country. Also, the government of Saudi Arabia is focusing on manufacturing buses locally in order to create employment opportunities and to save import costs, thereby boosting the domestic industry.
Browse 2 market data Tables and 33 Figures spread through 82 Pages and an in-depth TOC on " Saudi Arabia Bus Market ".
Saudi Arabia bus market can be segmented based on bus length, seating capacity, fuel type, application and region. Based on the bus length, market can be segregated into Up to 8 M, 8-10 M, 10-12 M, & Above 12 M. 10-12 M segment is anticipated to dominate the market owing to the preference for medium and large buses by the public transport authority. In terms of application, transit bus segment is expected to grow at the highest rate due to increasing investment in the public transit network by the government to solve the issue of overcrowding.
Saudi Arabia bus market can be segmented based on bus length, seating capacity, fuel type, application and region. In terms of seating capacity, market can be segregated into 15-30, 30-40, 40-50 and above 50. Among these, 30-40 segment dominated the market as it is the preferred segment on account of easy boarding, even with a stroller or wheelchair. Additionally, it can easily store large volumes of luggage.
Based on fuel type, diesel segment led the Saudi Arabia bus market with share of 71.84% in 2019 due to its low price in the country. However, increasing emphasis by the governments on clean energy public transportation, share of electric & hybrid bus is expected to increase over the coming years. Furthermore, increasing air pollution and reducing cost of batteries are expected to have a positive impact on the market growth of electric & hybrid buses in the country.
Based on application, transit bus segment is expected to grow at the highest rate as public bus operators are upgrading bus fleets to reduce fuel and emission costs, while enhancing the riding experience.
Mercedes Benz AG, MAN SE, Scania AB, Tata Motors Limited, Hyundai Motors Company, AB Volvo, Eicher Motors Limited, Mitsubishi Fuso Truck and Bus Corporation, Ashok Leyland Limited and Alexander Dennis Limited (ADL), among others are the leading players operating in the Saudi Arabia bus market. The companies operating in the market are using strategies such as product launches and investing in research & development to increase their share in the country.
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“In terms of fuel type, diesel dominated the Saudi Arabia bus market in 2018 and the trend is expected to continue over the forecast period as well. However, on account of increasing focus of the government on increasing the number of Umrah and Haj pilgrims by providing efficient, clean and reliable transportation, market share of electric & hybrid bus is expected to increase through 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Bus Market By Bus Length (Up to 8 M, 8-10 M, 10-12 M, & Above 12 M), By Seating Capacity (15-30, 30-40, 40-50 & Above 50), By Fuel Type (Diesel, Petrol, CNG, Others), By Application (Transit Buses, Motor Coaches & School Buses), Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Saudi Arabia bus market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the Saudi Arabia bus market.
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