According to Future Market Insights research, during the projected period, the Global Bus Flooring Market is set to enjoy a valuation of US$ 334.5 Million in 2022 and grow at a CAGR of 4.5% from 2022 to 2032. The top 3 nations are anticipated to control around 23.0 % of the market by the end of 2022, as sales of Bus Flooring are expected to soar.
| Attributes | Details |
|---|---|
| Market Size 2022 | US$ 334.5 Million |
| Market Size 2032 | US$ 521.3 Million |
| Value CAGR (2022 to 2032) | 4.5% |
| Collective Value Share: Top 3 Countries (2022E) | 23.0% |
Manufacturers are focusing on offering floor tiles with high quality, durability, and safety. The recent advancement in technology provides a variety of deeply embossed bus floor patterns that offer a sturdy surface, providing slip resistance features. A new forecast by FMI analysis estimates that bus flooring sales will augment from 2022 to 2032 and is anticipated to create a growth opportunity of US$ 186.7 Million.
Growing demand for public transport worldwide is anticipated to boost the production and sales of public buses, thereby boosting the bus flooring market. Moreover, the increasing demand for electric buses is projected to create a growth opportunity for the bus flooring market during the forecast period.
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The global bus flooring market witnessed a CAGR of 2.1% during the historic period (2017 to 2021) with a market value of US$ 305.4 Million in 2021.
The global bus flooring market is driven by increasing public transportation and growing travel and tourism activities worldwide. The design strategies for public transport are continuously evolving to meet end-user demand across the globe. The increasing demand for unique floor design and patterns that provides excellent traction, safety, and durability is anticipated to boost the growth of the bus flooring market.
The advancement of flooring technology and increasing demand for customized designs and patterns are set to provide a positive outlook for the bus flooring market growth. Along with the personalized design, the focus on lightweight, flexible, and cost-effective material-based bus floors is fuelling the market growth.
The increasing demand for emission-free and energy-efficient mass transit solutions is paving the way for the growth of electric buses worldwide, positively influencing the growth of the bus flooring market. Governments all over the world have launched programs and initiatives to boost the productivity of electric buses. The demand for safe, durable, and lightweight material for bus flooring is increasing as the production of electric buses is increasing significantly. The market for bus flooring is also driven by the increasing maintenance and repair activities of the old buses.
The increasing demand for durable flooring products mainly drives the market for bus flooring. Manufacturers of bus flooring are more focused on developing high-strength material-based floors that are flexible, reliable, and, lightweight. The manufacturers are also concentrating on providing bus floors with heavy load-carrying capacity. The increase in travel and tourism across the world and the boost in local transport activities are surging the bus flooring market demand.
The increasing demand for electric buses is one of the significant factors driving the market for bus flooring. As the world is shifting towards electrification, the production of electric buses is also increasing, thereby increasing the demand for bus floors. Also, bus refurbishing activities are positively influencing the bus flooring market's growth. Moreover, the increasing demand for corporate and intra-city buses are also boosting the demand for bus floor.
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The demand for anti-slip bus flooring is increasing as it provides safety and helps to avoid unwanted accidents by providing a better grip during travel. Some of the anti-slip bus floorings are made of silica and PVC materials which provide a rough surface with high slip resistance. The anti-slip bus flooring segment is estimated to hold approximately 58.2% of the global market by the end of 2032.
OEM is anticipated to dominate the global bus flooring market. The Original Equipment Manufacturer segment for global bus flooring is expected to grow at 4.1% CAGR by volume over the forecast period. The largest share contributed by OEM is in the North American region. Key players in the market are partnering with prominent automotive manufacturers to achieve significant profitability and penetrate several regions.
Buses are the key public transit in the US Buses deliver more rides yearly than all other public transit modes combined. The region has a well-known presence of bus manufacturing companies, such as REV Group Inc., Collins Bus Corp., Navistar International Corporation, and many others. The US is projected to hold around 73.2% of the North America bus flooring market by the end of 2032.
The increasing middle-class economy and an increasing number of people opting for public transport are some of the factors driving the demand for buses in the country, indirectly boosting the demand for bus flooring. Also, the Indian electric bus market is anticipated to grow significantly in the next few years owing to rising investment from central and state governments. The growing demand for buses in India is thereby driving the growth of the bus flooring market in the country.
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The key players operating in the Bus Flooring market are focusing on expanding their market presence to meet the growing demand for Bus Flooring during the projected period. Also, the key players are adopting collaboration & joint venture strategies with vehicle manufacturers to expand their revenue.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.4% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume (Units), and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Floor Type, Material Type, Sales Channel, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East & Africa (MEA) |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Germany, The UK, France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, Association of Southeast Asian Nations, Australia and New Zealand, GCC Countries, Turkey, South Africa, Northern Africa |
| Key Companies Profiled | Nora Systems GmbH; Magnus International; Forbo Flooring Systems; Wonder Floor; TKflor; Ergis; Jiangyin Xinkete Composite Material Technology Co., Ltd; Responsive Industries Ltd; MarvelVinyls and Gerflor.; Altro APAC Pty Ltd; ProFusion Industries |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Global Bus Flooring Market reached over US$ 305.4 Million.
During the forecast period, the Global Bus Flooring Market is estimated to expand at a CAGR of 4.5% from 2022 to 2032.
The Global Bus Flooring Market is projected to reach US$ 521.3 Million by the end of 2032.
The key players operating in the Bus Flooring market are Nora Systems GmbH, Magnus International, Forbo Flooring Systems, and Wonder Floor.
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