Mega Cities Spark Growth Opportunities for Powertrain Technologies in the Latin American Bus Market
"With escalating on-road traffic, the need for alternative powertrains that can reduce the carbon footprint is reshaping the bus market," said Frost & Sullivan Mobility Industry Analyst Hernán Cavarra. "Acknowledging this demand and the accelerated growth of BRT systems in LATAM, Chinese original equipment manufacturers (OEMs) are focusing on the electric bus segment, while European and American OEMs are targeting the natural gas powertrain segments as well as value bus units."
The recent Latin America Bus Market—Growth Opportunities 2016 to 2022 analysis is part of Frost & Sullivan's Commercial Vehicle/Transport/Logistics/Rail Growth Partnership Subscription. Other markets covered include medium- and heavy-duty truck steering system, hybrid-electric truck and bus, connected truck dashboard, commercial vehicle telematics, aerodynamics in heavy trucking and truck platooning.
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Governments in LATAM will struggle to keep pace with the adoption of new powertrain technologies because it requires a major infrastructure overhaul. Older bus fleets will need to be replaced with modern buses that comply with new emission policies. Furthermore, the new BRT systems will need 12-meter-long, heavy-duty units to make city transportation more comfortable and effective.
"Brazil and Mexico will continue to be the largest markets for transit and intercity bus segments in LATAM, accounting for more than 75 percent of the market," noted Cavarra. "The expansion of the BRT system will also place Peru and Argentinain enviable positions in the transit bus markets. These high-growth segments are expected to propel the total bus market to 51,000 units by 2022, at a compound annual growth rate of 5.9 percent."
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Latin America Bus Market—Growth Opportunities 2016 to 2022
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