Indian Bus Market Analysis and Forecast 2022 is the detailed Bus report along with the forecast. In the Indian Automobile sector, the Bus category finds a prominent place because of its spread wide range of applications across various stretches. The known fact was that the year 2021, was badly troubled by the outburst of COVID-19. This period caused indefinite trouble for the economy to scale up to its potential thereby bringing all the activities to a halt. Taking a look at how the market scaled for Indian bus sales reveals some astonishing insights. The year 2021 was more fatal to this sector than 2020, as the numbers went down by 6% in comparison to 2020. The sales figures recorded during this period were almost three times less as compared to the usual stats witnessed prior to 2020.
Till date the Indian bus sector is not able to attract a decent sales volume despite the situation turning to normal. The pandemic seems to come to an end, yet the apprehension in people’s minds about traveling to places continues to remain and this has made the tourist Bus, School, and staff buses sit at the garages for still some time. The current market analysis predicts that the year 2022 might give the much-needed breakthrough for the sales volume of Indian buses and thus handing them a fruitful welcome.
Indian Bus market of Model wise sales and Pricing Analysis:
ACG is tracking model-wise Bus pricing since 2012. It helps to create a Product strategy, Right pricing for targeting potential buyers group. OEM’s market share has changed after CY 2019, Tata Motors, Eicher, BharatBenz, Volvo, Scania, Mahindra, Force Motors, SML Isuzu.
Our exclusive database gives the Models wise, Applications wise, lengthwise, and seating arrangement of the Indian Bus market.
Bus OEMs Market Share:
Tata Motors, Ashok Leyland, Eicher increased market share in Q4 CY 2021. Volvo bus is the market leader in the Premium and Luxury Bus segment.
Taking a look at the HDB segment gives us a clear verdict of Ashok Leyland being the market giant in this segment with an overall hold of 55% in 2021. It is closely followed by Tata Motors which trials behind the Ashok Leyland by a market share of about 33%. Another key contributor in the segment, Eicher, has enhanced its market position by adding on 3% over the period from 2018 to 2021. Another foreign manufacturer, Volvo, has positioned itself as a premium brand. It registered degrowth starting from 1.6% which has now reduced to 0.2% over the last 3 years.
Getting to the details of the performance of the Medium Duty bus segment shows us that Tata motors continue to have their full fledge control over this segment by being the highest seller with a market presence of 40%. The one in the 2nd position in this segment is Eicher, which has also seen a decent growth of about 10% during the non-COVID times.
Bus chassis is in demand in the last 3 quarters of 2021. The local market and Economical factors are key reasons for this strategic move.
Tata’s sheer dominance isn’t just restricted to one segment but has even spread to the Light Duty bus segment. They have been a consistent top performer for almost half a decade. Other brands in this segment have also grown further as there was a good demand for the vehicles in this segment. So, brands like SML Isuzu and Force Motors have bettered their performance in the market by adding on 2% and 5% respectively in the recently concluded year 2021.
Tata’s prolific run in the previously discussed segments was put to a halt in the Minibus segment. Force Motors has emerged as the key contributor in this segment with a whooping hold of 70% on the market. It has left very little ground to its competitors in the segment and all other brands in this segment are still striving to find their feet. Tata’s however have the vision to establish an invincible hold in terms of market share, and the same is evident from their aggressive new releases and strategic ideas.
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