Global Bus Transmission System (BTS) Market 2017-2021

Overview of the global bus transmission system (BTS) market

Technavio’s market research report predicts that the global bus transmission system (BTS) market will grow steadily during the next four years and in terms of units, will post a CAGR of more than 3% during the forecast period. The increasing growth of HEVs over pure EVs is one of the primary drivers for market growth. The key factor in the hybrid electric vehicle (HEV) market is the rising demand for eco-friendly vehicles that run on electricity, hybrid systems, and other power sources.  For pure public transport, the availability of charging infrastructures is needed from the government resulting in lesser pure EV buses and the more of hybrid bus adoption. The incentives and tax credits offered for HEVs by many government bodies and regulatory authorities have driven the car and bus manufacturers to introduce hybrid and EV vehicles in the market. Moreover, the developments in hybrid electric buses have also resulted in the increasing demand and the market is expected to grow further during the forecast period.  It has been observed that by 2015, there were about 86 well-established hybrid electric bus manufacturers and the competition among OEMs is growing higher. These factors will drive growth of the hybrid electric bus market, which will in turn, fuel the growth of the BTS market.

The introduction of the highly efficient lightweight transmissions is one of the latest trends that will contribute to the growth of the market in the future. The rise in the adoption of high-performance HEVs due to their top speeds of 90 mph and above offering quick acceleration from 0 to 60 mph in less than 10 seconds is gaining wide popularity. High power rated hybrid electric powertrain is needed for such quick acceleration. The combined power from the engine and electric motors through transmission leads to faster acceleration. These integrated transmissions and electric component systems help in size and weight reduction resulting in better efficiency. Moreover, the companies are increasingly investing in R&D activities to develop highly-efficient lightweight transmission systems through integrations and downsizing of components.

Competitive analysis and key vendors