LONDON, June 23, 2021 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the school and employee bus services market, school and employee bus services companies are increasingly adopting enhanced safety features on buses to offer safer services for their customers. Enhanced safety features in the bus include the use of an alcohol detection system, 360° camera, among other technologies. The alcohol detection system works on the sensors which are placed into the steering wheel and help to detect the driver’s skin oil and lock the bus before going on the road in case of alcohol detection. This helps in prevention of unsafe and careless driving. The companies offering alcohol detection systems include Senseair, Sober Steering, SOBRsafe, and others. The 360° camera offers a bird’s eye view of the entire bus perimeter for the drivers and helps in ensuring the safety of passengers as well. Seon offers a 360° camera system ‘inView 360 Around Vehicle Monitoring (AVM) System’ for school buses.
The school and employee bus service market includes service providers of transportation services for travel or outings for corporate customers. The market includes the transportation services provided to schools and universities for field trips, sporting events & athletic competitions, and other extracurricular events. The market also includes transportation services offered to corporates for regular shuttling to and fro from workspaces, corporate trips, events and for other company-related activities. Services provided to manage operations, driver recruiting and training, safety, vehicle maintenance, routing/scheduling of the existing fleet owned by schools are also included in the market. The services are altered by the transportation providers towards corporates and schools. Some school bus services are subsidized by the local/district governments to reduce the financial burden over students.
The global school and employee bus services market is expected to grow from $24.88 billion in 2020 to $29.53 billion in 2021 at a compound annual growth rate (CAGR) of 18.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $39.98 billion in 2025 at a CAGR of 8%.
The Business Research Company’s report titled School And Employee Bus Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 covers major school and employee bus services companies, school and employee bus services market share by company, school and employee bus services manufacturers, school and employee bus services market size, and school and employee bus services market forecasts. The report also covers the global school and employee bus services market and its segments.
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As per ‘safety’ towards the environment, companies in the school and employee bus transportation market are actively pursuing electricity to power buses to reduce carbon emissions and cut costs. Electric buses use solar energy or electric batteries to power the buses and run. Solar buses run on electric batteries which in some cases are also charged by solar panels installed on the roof of the bus. It improves the fuel efficiency of the bus and increases the life of lithium batteries. In addition, these alternative fuels have low maintenance components which allow companies to save costs. Major companies that offer electric school buses include Blue Bird Corporation, IC Bus, Thomas Built Buses Inc, Collins Bus Corporation, Micro Bird Inc, Starcraft Bus, Lion Electric Company, Trans Tech, and GreenPower Motor Company.
Another method to reduce carbon emissions is the introduction of hybrid buses by school and employee bus service providers. Buses are generally powered using diesel, which releases CO2 emissions into the environment. On the contrary, hybrid buses utilize alternate fuel and do not require heavy investment like electric buses. A hybrid bus is powered by two alternate fuels or fuel combined with electricity, diesel-natural gas, or diesel-electric. In addition to that, these buses offer a quieter experience and reduced maintenance costs. According to research by the Environmental and Energy Study Institute, hybrid buses offered about 40% improvement in fuel economy in comparison to standard diesel coach and nearly 90% improvement over compressed natural gas buses. In 2018, Volvo sold more than 4,000 hybrid buses globally and had an order for 90 hybrid buses from Brussels alone.
School And Employee Bus Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market.
The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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