The school & employee bus services industry comprises of the sales of school & employee bus services and related products by entities (sole-traders, organizations and partnerships), which provide buses & other motor vehicles to transport the students and employees to and from school and employees to or from work. These buses are owned or rented by the school authorities. The design of these buses is differ from buses used in public transportation as increased safety is the key consideration taken into account while manufacturing the school buses. The school and employee bus services market is bifurcated as students’ bus services and employee bus services. These buses are mainly used by teachers and students.
As per study, “School And Employee Bus Services Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global school and employee bus services market include National Express Group PLC; Student Transportation Inc.; First Student; Rick Bus Co. Leading players are increasingly focusing on bringing innovative technologies to ensure the effectiveness of school buses. Key players have also launched various technological platforms that provide vehicle diagnostics on the real-time basis which increases the reliability of vehicle. The introduction of such innovations is expected to create a positive impact on the global school and employee bus services market during the forecast period.
The school and employee bus services market is driven by enhanced protection features in the buses, followed by growth in implementation of the electric vehicles in the commercial vehicle sector, increase in global population, rise in demand for a large number of schools & adequate infrastructure about the education industry, and improvement of school buses over the other modes of transport. Additionally, the effective increase in the incidents of unobtainability of the transport, discourteous behavior, assaults, high charges in the ride hailing & ride sharing vehicles has left corporate for thinking about the protection of their employees. This feature is accountable for propelling the market growth. However, lack of proper charging infrastructure for electric school buses and availability of alternate school transportation system may impact the market. Moreover, growth in focus on modernizing school transportation and prologue of alternative fuel powered school bus amid rising need to curb emission are key opportunities for market. Furthermore, increase in trends of mass transit to save fuel and reduce emission and growth in adoption of electric school buses are major trends for market.
Based on geography, the Western Europe region is a prevalent region in global school and employee bus services market owing to increase in number of school enrollments coupled with growth in adoption of electric buses across the region. The Asia-Pacific and North-America regions are anticipated to witness higher growth rate due to growth in focus on replacing aging vehicles over the forecast period. It is projected that future of the global school and employee bus services market will be bright as a result of growth in expenditure by government to promote education during the forecast period.
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Ankur Gupta, Head Marketing & Communications