The bus seat market is expected to grow from USD 12.5 billion in 2022 to USD 16.3 billion by 2027, at a CAGR of 5.6%. The market growth can be attributed to several factors, such as increasing demand for electric bus is rising demand for bus seats.
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Bus seats for school buses to grow with the highest CAGR during the forecast period
School buses are widely used for the bus seat application. School buses are designed to transport children to the school and back to residence. Bus seats with proper child safety measure are growing in demand as school authorities and parents are working on improving child’s safety. Proper bus seats with seat belts are used avoid danger to children in an event of accident. Integrated child seats are growing in application for school buses where the seats can be adjusted to fit a young child travelling in the bus. Many developed countries like US, Canada, UK, Germany are making it mandatory to provide integrated child seats to improve the safety of School buses.
Regular passenger seat segment to hold the largest share of the market during the forecast period
Regular passenger seats are seats with basic features and with seating comfort for essential bus travels. These seats are used majorly as they are inexpensive compared to other bus seats and can be default choice for any buses. Regular passenger buses are mostly fitted on public transit buses where the travelling time is less than 100 mins. High comfort type regular passenger seats have been increasing used for long intercity bus travels where passengers can comfortably travel for multiple hours.
Asia Pacific region is expected to witness the highest growth during the forecast period.
The market in APAC for bus seats holds the largest share in any region. This is owned to the fact that bus is highly used by many Asian countries as a major mode on transportation. Many APAC countries are developing and majority of population in cannot afford a private vehicle like car, hence they travel via bus. Many urban areas are densely crowded with population hence to avoid large traffic congestion in the cities people travel by buses to commute to work or to reach at any part of the city.
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Some of the key companies operating in the market are Faurecia (France), GRAMMER AG (Germany), Magna International Inc. (Canada), Freedman Seating Company (US), Franz Keil GmbH (Germany), Adient (US), ISRINGHAUSEN GmbH (Germany), Lear Corporation (US), NHK Springs (Japan), Toyota Boshoku (Japan), Tachi-S (Japan), Minda Industries (India), Commercial Vehicle Group (US), Lazzerini SRL (Italy) and so on.