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Bus Transmission System Market

Bus Transmission System Market By Design Type (Rear Engine Front Wheel Drive, Mid-engine), By Transmission Type (Manual, Automatic), By Application (Coach, School Buses), By Sales Channel, By Region - Global Insights 2022-2032

Analysis of Bus Transmission System market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Global Bus Transmission System Market Outlook

The global bus transmission system market is estimated at USD 38.5 Billion in 2022 and is forecast to surpass USD 67.9 Billion by 2032, growing at a CAGR of 5.8% from 2022 to 2032.

Report Attributes

Details

Base Year Value (2021A)

USD 36.5 Billion

Estimated Year Value (2022E)

USD 38.5 Billion

Projected Year Value (2032F)

USD 67.9 Billion

Global Growth Rate (2022-2032)

 CAGR 5.8%

North America Market Share in 2021

~36%

North America Growth Rate (2022-2032)

CAGR ~6.1%

Collective Value Share (US, China, India) 2022: Top 3 Countries

~44%

Top 5 Companies Market Share in 2021

~21%

Key Companies Profiled

  • ZF Friedrichshafen AG
  • Allison Transmission Inc.
  • Daimler AG
  • Voith GmbH & Co. KGaA
  • Eaton
  • AISIN SEIKI Co. Ltd.
  • WABCO
  • VE Commercial Vehicles Limited
  • MAN Truck & Bus AG
  • SKF
  • RSB Group
  • Cardan Shaft India
  • Other Market Players

The global bus transmission system market is likely to create an absolute dollar opportunity of USD 29.5 Billion by the end of 2032. The global bus transmission system market holds ~27% of the global automotive transmission system market.

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2017-2021 Global Bus Transmission System Market Outlook in Comparison to 2022-2032 Growth Forecast

The global market for bus transmission system has been expanding at a robust rate on account of the voluminous amount of passengers using public transport across several regions. Bus transmission systems have acquired a level of sophistication as governments have made huge-scale investments towards enhancing the public transport system across regions. Furthermore, the depletion of natural resources including fossil fuels has necessitated the use of public transport to conserve fuels for the future generations.

This has also created commendable demand within the global market for bus transmission and has given a global playfield to the market vendors. It is anticipated that the global market for bus transmission would undergo key advancements as the working population across the world increases.

Bus transmission systems come in handy for schools, universities, and colleges, and this factor further propels demand within the global bus transmission system market. Moreover, the lower-income groups who cannot afford to buy personal vehicles also rely on bus transmission systems for their daily commutes.

Fact.MR projects the bus transmission system market is expected to witness exhibiting growth at 5.8% CAGR during 2022 and 2032 in comparison to a CAGR of 4.0% with which it grew from 2017 and 2021.

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Affordability Propelling Market Growth

Another major driver of demand within the global market for bus transmission. Public transport is preferred by people in the western countries such as America, England, France, and Germany. For this reason, the demand within the regional markets of Europe and North America has touched new heights.

Buses are the essential form of rural and urban passenger transport across the globe. Growth in population, rising focus on environmental issues, and shifting mobility patterns are changing face of public transport. They also play a crucial role in connecting various modes of urban transit.

Further, buses are one of the most affordable mode of passenger transport. As developing economies around the globe focus on revamping their public transport infrastructure, it is highly likely that reliance on personal modes of commute, such as cars and two-wheelers will witness a decline. Demand for buses that are fuel-efficient, light-weight, and comfortable is likely to gain traction during the assessment period.

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Competitive landscape highlights only certain players
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Key Developments in Bus Transmission System Market Fueling Market Demand

Currently, tourism industry is experiencing a strong growth due to increases number of foreign and residential tourists and it is the largest end-user of transmission systems. To accommodate increasing requirement of buses from tourism sector, manufacturers are focusing on increasing their production capacity.

For instance, Ashok Leyland has lined up series of investments for the year ahead which will be utilized for the development of new vehicles and to improve technology. The automotive giant has recently started construction of new production facility in Andhra Pradesh. This manufacturing facility is likely to be utilized for the manufacturing of buses and trucks.

Key Product Launches by Key Players Enhancing Revenues

Toyota has developed a new manual 6-speed transmission system, especially for European market. The key feature of this advanced transmission system is its lower weight and reduced size. According to Toyota, the new system is 7 kgs lighter and 24 shorter as compared to existing versions. The system is touted as one of the smallest transmission across the globe.

Owing to its reduce size and weight, it is likely to offer better fuel-efficiency. This transmission system comes equipped with intelligent manual transmission controls (iMT) that ensures smooth gear shift by automatically adjusting engine revolutions when changing gears. The innovations in the development of bus transmission systems are likely to open new avenues of growth for market participants.

Opportunities for Market Players to Support Market Growth

Government offices, private schools, various companies and hospitals provide transportation facility to their employees, students and patients. Increasing competition between private companies to provide transportation facilities to their employees will further increase demand for buses which ultimately will influence demand for transportation system.

In addition, retail e-commerce packaging and transportation is gaining high traction owing to rapidly growing e-commerce industry. Transportation of goods is usually carried out through trucks. Thereby, increasing demand for trucks will positively influence the growth of transmission system market.

However, stringent government regulations regarding green environment combined with growing awareness related to use of battery-operated vehicles among people will cause manufacturing of diesel-operated vehicles. On the other hand, this trend will result in increased adoption of electric-buses, bringing opportunities for vehicle manufacturer to develop efficient and more powerful transmission system for electric-buses.

Market Restraining Factors for Bus Transmission System Market

Driving on congested roads and heavy traffic continues to be a challenge for bus drivers. The challenge becomes more pronounced when drivers are using manual transmission systems. Although automatic transmission systems have reduced these challenges to an extent, high cost of such systems continues to be a barrier to widespread adoption. Further, low mileage of automatic transmission systems as compared to manual transmission systems is another key deterrent. The maintenance cost of automatic transmission systems is also higher, due to which manual transmission systems continue to be the preferred option, especially in developing countries.

Competitive Landscape: Top Companies in Bus Transmission System Market

The global bus transmission system market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the growth of bus transmission system.

Fact.MR has provided detailed information about price points of key manufacturers in bus transmission system market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  • ZF Friedrichshafen AG in 2020 completed acquisition of WABCO which is the supplier of commercial vehicle technology. This integration will provide benefit to customers in terms of an extensive product portfolio, advanced technology innovation and system integration expertise
  • Allison Transmission Inc. in 2021 announced to acquire transmission portfolio of off-highway component machining business and off-highway business of AVTEC’s Madras Export Processing Zone (MEPZ) and AVTEC’s Ltd.

Global Bus Transmission System Market by Category

  • By Design Type, Global Bus Transmission System Market is segmented as:

    • Rear Engine Front Wheel Drive
    • Front Engine Rear Wheel Drive
    • Mid-engine
    • Other Product Types
  • By Transmission Type, Global Bus Transmission System Market is segmented as:

    • Manual Transmission System
    • Automatic Transmission System
  • By Application, Global Bus Transmission System Market is segmented as:

    • Coach Buses
    • City & Intercity Buses
    • School Buses
  • By Sales Channel, Global Bus Transmission System Market is segmented as:

    • OEM (Original Equipment Manufacturer)
    • Aftermarket
  • By Region, Global Bus Transmission System Market is segmented as:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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The global value of bus transmission system market is estimated to be worth over USD 38.5 Billion in 2022.

The demand is anticipated to surpass USD 67.9 Billion by 2032 end.

During 2017-2021, global bus transmission system market grew at 4.0% CAGR.

Some of the prominent players in bus transmission system market are ZF Friedrichshafen AG, Allison Transmission Inc., Daimler AG, Voith GmbH & Co. KGaA, Eaton, AISIN SEIKI Co. Ltd., etc.

North America tops the global bus transmission system market accounting for 35.9% of global market share in 2022.

Automatic transmission system segment under the transmission type segment contributes 71.3% of market share in global sales of bus transmission system.

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