Increasing demand for the electric bus is rising demand for bus seats, propelling the market to grow at a CAGR of 5.6% till 2027.
According to a research report by MarketsandMarkets - Bus Seat Market with COVID-19 Impact Analysis, by component, comfort type, seat type, bus type and region - Global Forecast to 2027, the Bus Seat Market is expected to grow from $12.5 billion in 2022 to $16.3 billion by 2027
Bus seats for school buses to grow with the highest CAGR during the forecast period, the report noted. School buses are designed to transport children to the school and back to their residences. Bus seats with proper child safety measures are growing in demand as school authorities and parents are working on improving child's safety. Proper bus seats with seat belts are used to avoid danger to children in the event of an accident. Integrated child seats are growing in the application for school buses where the seats can be adjusted to fit a young child travelling in the bus. Many developed countries like the US, Canada, the UK, and Germany are making it mandatory to provide integrated child seats to improve the safety of school buses.
According to the report, the regular passenger seat segment will hold the largest share of the market during the forecast period. Regular passenger seats are seats with basic features and seating comfort for essential bus travels. These seats are used extensively as they are inexpensive compared to other bus seats and can be the default choice for any bus. Regular passenger seats are mostly fitted on public transit buses where the travelling time is less than 100 mins. High comfort type regular passenger seats have been increasingly used for long intercity bus travels where passengers can comfortably travel for multiple hours.
Some of the key companies operating in the market are Faurecia, Grammer AG, Magna International, Freedman Seating Company, Franz Keil GmbH, Adient, Isringhausen GmbH, Lear Corporation, NHK Springs, Toyota Boshoku, Tachi-S, Minda Industries, Commercial Vehicle Group and Lazzerini SRL.
MarketsandMarkets noted that the 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 due to the fact that many Asian countries highly use the bus as a major mode of transportation.
Many APAC countries are developing and the majority of the population in the region cannot afford a private vehicle like a car; hence they travel via bus. Moreover, 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 reach any part of the city.
Courtesy: MarketsandMarkets. Photo is representational; courtesy: MG Group.