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Autonomous Bus Door System Market
Improved safety coupled with the reduction in traffic congestion, accessibility of connected infrastructure, rise in demand for fuel-efficient, high-performance
WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 12, 2024 /EINPresswire / -- Improved safety coupled with the reduction in traffic congestion, accessibility of connected infrastructure, and rise in demand for fuel-efficient, high-performance, and low-emission
vehicles augment the growth of the global Autonomous Bus Door System
market . However, high manufacturing cost restrains the growth to certain extent. On the other hand, growth of smart cities and supportive government regulations offer new opportunities in the coming years. Thus, growth of connected infrastructure creates favorable conditions for adoption of autonomous bus, which, in turn, drives the growth of the bus door system market.
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Based on mechanism, the electric segment contributed to the largest share in 2019, accounting for more than three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, the segment is estimated to portray the highest CAGR of 44.8% during the forecast period. Electric bus doors have applications on shuttle buses, coaches, city bus and others. In addition, electric doors have a provision of manual opening of the door in case of emergencies and electric doors prevent clipping, which drives the growth of the segment.
The global Autonomous Bus Door System Market was valued at $3.9 million in 2019, and is projected to reach $77.0 million by 2027, registering a CAGR of 43.8% from 2020 to 2027. Factors such as improved safety coupled with the reduction in traffic congestion, rise in connected infrastructure, and increase in demand for fuel-efficient, high-performance, and low-emission vehicles are driving the autonomous bus door module market growth. However, high manufacturing cost, and data management challenges are expected to impede the stated autonomous bus door system market growth .
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Smart cities are experiencing considerable growth across the globe. Emergence of disruptive technologies such as IoT and connected devices also lead to the development of smart transportation in smart cities. Advancement in IoT and cloud-based platforms has led to significant investment in smart cities. Several countries focus on transportation under smart cities initiative. For instance, Chinese government is working on programs for an autonomous driving revolution. Around 300 Chinese cities, which include Xinjiang and Nanjing, have introduced smart-city projects out of which 93 of the smart city projects are focused on transportation. These can potentially use the connected infrastructure to focus on building autonomous cars, self-driving buses and shared-driving models on the road. Furthermore, in September 2017, Baidu, a China-based technology company announced a $1.52 billion autonomous-driving initiative, which is called "Apollo Fund." This initiative is projected to invest in 100 autonomous driving projects till 2021. Further, global spending on smart city initiatives is expected to surpass $100 billion. Thus, development of smart cities holds a remarkable growth opportunity for the key players operating in the global autonomous bus door system market .
Based on region, North America contributed the highest share, accounting for more than two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. The emergence of the maximum number of leading bus manufacturers in this region augments the growth of the market. However, Asia-Pacific is expected to grow at the highest CAGR of 48.9% from 2020 to 2027. Factors such as the development of self-driving bus technology by startups are anticipated to propel the market growth in this region.
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Based on door type, the sliding plug doors segment accounted for the largest share in 2019, holding nearly three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. Sliding plug doors allow a large opening for passengers to enter or exit without obstructing access and sliding plug door offers superior sealing performance, winter-proof design which drives the growth of the segment. However, the coach doors segment is estimated to portray the highest CAGR of 47.7% during the forecast period. Coaches offer more features over a traditional bus such as luggage racks, baggage holders, recliner seats, foldable are rest, table which augments the growth of the segment.
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The key players profiled in this report include
AV Volvo, Continental AG, Volkswagen AG, Tesla, Scania AB, Daimler AG, Proterra, Hyundai Motor Company, Hino Motors, Ltd., Navya
Key Findings Of The Study
By mechanism, the electric segment generated the highest revenue in2019.
By region, Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period while considering the autonomous bus door system market growth.
By door type, the sliding plug door dominated the global market in terms of revenue in 2019.
Latin America leads the market in the LAMEA region.
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