ASIA PACIFIC BUS MARKET FORECAST 2026

2016 – 2026 ASIA PACIFIC BUS MARKET MARKET FORECAST & OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

Scope of Report Product of Interest (POI): Bus Anautomotivebusoramotorbusisaroadvehicledesignedtocarryagroupofpeople,usuallymore than 15 passengers. It consists of long body design & specially arranged seats and is driven by an internal combustion engine or electric motor. Their length usually varies from 6 meters to 12 meters with seating capacity of more than 15 passengers. These automobiles are mostly used as motor coaches, for transit purposes and school buses. Market Segmentation LENGTH TYPE SEATING CAPACITY COUNTRIES Year Range • Less than 8m • Less than 30 • Australia • Between 8m-10m • Between 30-40 • Singapore Review Period • Between 10m-12m • Greater than 40 • Thailand • Greater than 12m • Taiwan 2016 – 2019 • Malaysia Base Year FUEL TYPE BODY TYPE • Japan • New Zealand 2020 • Diesel • Fully built • Indonesia • Electric & Hybrid • Customizable Estimated Year • China • Petrol/Gasoline • India 2021 • CNG APPLICATION • Rest of APAC Forecast Period • Intra-City Bus 2022 – 2026 • Inter-City Bus • School Buses/Others 2

Table of Contents S. No. Contents Page No. 1. Product Overview 2. Research Methodology 3. Executive Summary 4. Impact of COVID-19 on Asia-Pacific Bus Market 5. Voice of Customer 6. Asia-Pacific Bus Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast 6.2.1. By Length Type (Less than 8m, Between 8m-10m, Between 10m-12m, Greater than 12m) 6.2.2. By Fuel Type (Diesel, Electric & Hybrid, Petrol/ Gasoline and CNG) 6.2.3. By Seating Capacity (Less than 30, Between 30-40, Greater than 40) 6.2.4. By Body Type (Fully built, Customizable) 6.2.5. By Application (Intra-City Bus, Inter-City Bus and School Buses/Others) 6.2.6. By Country (Australia, Singapore, Thailand, Taiwan, Malaysia, Japan, New Zealand, and Indonesia) 6.2.7. By Company (2020) 6.3. Product Market Map 3

Table of Contents S. No. Contents Page No. 7. Australia Bus Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value & Volume 7.2. Market Share & Forecast 7.2.1. By Length Type 7.2.2. By Fuel Type 7.2.3. By Seating Capacity 7.2.4. By Body Type 7.2.5. By Application 8. Singapore Bus Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast 8.2.1. By Length Type 8.2.2. By Fuel Type 8.2.3. By Seating Capacity 8.2.4. By Body Type 8.2.5. By Application 4

Table of Contents S. No. Contents Page No. 9. Thailand Bus Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value & Volume 9.2. Market Share & Forecast 9.2.1. By Length Type 9.2.2. By Fuel Type 9.2.3. By Seating Capacity 9.2.4. By Body Type 9.2.5. By Application 10. Taiwan Bus Market Outlook 10.1. Market Size & Forecast 10.1.1. By Value & Volume 10.2. Market Share & Forecast 10.2.1. By Length Type 10.2.2. By Fuel Type 10.2.3. By Seating Capacity 10.2.4. By Body Type 10.2.5. By Application 5

Table of Contents S. No. Contents Page No. 11. Malaysia Bus Market Outlook 11.1. Market Size & Forecast 11.1.1. By Value & Volume 11.2. Market Share & Forecast 11.2.1. By Length Type 11.2.2. By Fuel Type 11.2.3. By Seating Capacity 11.2.4. By Body Type 11.2.5. By Application 12. Japan Bus Market Outlook 12.1. Market Size & Forecast 12.1.1. By Value & Volume 12.2. Market Share & Forecast 12.2.1. By Length Type 12.2.2. By Fuel Type 12.2.3. By Seating Capacity 12.2.4. By Body Type 12.2.5. By Application 6

Table of Contents S. No. Contents Page No. 13. New Zealand Bus Market Outlook 13.1. Market Size & Forecast 13.1.1. By Value & Volume 13.2. Market Share & Forecast 13.2.1. By Length Type 13.2.2. By Fuel Type 13.2.3. By Seating Capacity 13.2.4. By Body Type 13.2.5. By Application 14. Indonesia Bus Market Outlook 14.1. Market Size & Forecast 14.1.1. By Value & Volume 14.2. Market Share & Forecast 14.2.1. By Length Type 14.2.2. By Fuel Type 14.2.3. By Seating Capacity 14.2.4. By Body Type 14.2.5. By Application 7

Table of Contents S. No. Contents Page No. 15. China Bus Market Outlook 15.1. Market Size & Forecast 15.1.1. By Value & Volume 15.2. Market Share & Forecast 15.2.1. By Length Type 15.2.2. By Fuel Type 15.2.3. By Seating Capacity 15.2.4. By Body Type 15.2.5. By Application 16. India Bus Market Outlook 16.1. Market Size & Forecast 16.1.1. By Value & Volume 16.2. Market Share & Forecast 16.2.1. By Length Type 16.2.2. By Fuel Type 16.2.3. By Seating Capacity 16.2.4. By Body Type 16.2.5. By Application 8

Table of Contents S. No. Contents Page No. 17. Rest of APAC Bus Market Outlook 17.1. Market Size & Forecast 17.1.1. By Value & Volume 17.2. Market Share & Forecast 17.2.1. By Length Type 17.2.2. By Fuel Type 17.2.3. By Seating Capacity 17.2.4. By Body Type 17.2.5. By Application 18. Market Dynamics 18.1. Drivers 18.2. Challenges 19. Market Trends & Developments 20. Competitive Landscape 20.1. Competition Outlook 20.2. Company Profiles (Leading 10 Companies) 9

Table of Contents S. No. Contents Page No. 20.2.1. Company Details 20.2.2. Products & Services 20.2.3. Financials (As Reported) 20.2.4. Key Market Focus & Geographical Presence 20.2.5. Recent Developments 20.2.6. Key Management Personnel 21. Strategic Recommendations 22. About us & Disclaimer 10

RESEARCH METHODOLOGY

Research Methodology Market Formulating Developing list Data Data Data Profiling Questionnaire of respondents Collection Validation Analysis In-depth secondary In order to conduct List of industry TechSci conducted Data obtained as a The data was scrutinized research was conducted to industry experts’ players and industry interviews with result of primary using MS-Excel, statistical determine top players in interviews, TechSci specialists was industry experts and and secondary tools and internal the Asia Pacific bus market, formulated a detailed developed. industry players for research was proprietary database to overall market size and discussion guide. data collection and validated through obtain qualitative and segmental market size. verification. rigorous quantitative insights about triangulation. the Asia Pacific bus market Primary Research Desk Research Company Analysis ✓ Identifying Key Opinion ✓ Recent Developments ✓ Market Participants Data Data Filter Research & Actionable Business ✓ Market Changing ✓ Key Strengths Collection & Analysis Intelligence Insights Solution Leaders Aspects/Dynamics ✓ Questionnaire Design ✓ Government Policies ✓ In-depth Interviews ✓ Final Conclusion Primary Research Secondary Paid Sources Research ✓ LinkedIn ✓ Company Website ✓ Factiva ✓ TechSci Internal ✓ Company Annual ✓ Hoovers Database Reports ✓ White Paper Study ✓ Financial Reports ✓ Investor Presentations ✓ Regulatory Body ✓ Associations, etc. 12

Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of Asia Pacific bus market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as stringent government regulations for the safety of occupant etc. and speculated a positive growth during the next 5 years. The study includes market forecasting, which would enable ourclients to take better decisions while planning their strategy to achieve sustainability in Asia Pacific bus market. Methodology Followed forCalculation of Market Size: • MarketSize byValue & Volume: Market size, in terms of value & volume, for the year 2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as bus supplier companies, channelpartners, market influencers & end users, industry experts, and other industry participants. • Theteaminterviewedmorethan15–20bussuppliercompanies,45–50channelpartners,80–100endusers,and15–20Industryexperts and other Value & Volume chain stakeholders in Asia Pacific bus market to obtain the overall market size from 2016-2020, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data from 2016-2020. 13

Research Methodology • Respondents were asked about the current and future market growth rates, market shares by length type, by fuel type, seating capacity, by body type, by application, by country and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders depending upon the end use product type of bus. Methodology Followed forCalculation of Market Shares: Market shares shares by length type, by fuel type, seating capacity, by body type, by application, by country and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various end use product type of bus. The final shares were calculated by taking the geometric mean of the responsesgathered fromkeyopinionleadersafter eliminating the outliers. Methodology Followed forForecasting: • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/TableauSoftware. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Asia Pacific busmarket,TechSciResearchusedvariousforecasttechniquessuchas: ✓ Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis 14

Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It shouldbenotedthatthefigures compiledareonlyfor the organized marketincluding market sharedata. Partial List of Companies Interviewed Key Secondary Sources ▪ Toyota Motor Corporation. ▪ Society of Indian Automobile Manufacturers ▪ SML Isuzu Ltd. ▪ Organisation Internationale des Constructeurs ▪ HinoMotors, Ltd. d'Automobiles ▪ AB Volvo ▪ Automobile Association of India ▪ Scania AB ▪ Japan Automobile Manufacturers Association ▪ MAN SE ▪ World Bank ▪ Daimler AG ▪ TechSci Research Proprietary Database & Knowledge ▪ Nissan Motor Company, Ltd. Repository ▪ Mitsubishi Fuso Truck and Bus Corporation ▪ Company Annual Reports ▪ Shanghai Shenlong Bus Co., Ltd. ▪ Industry Magazines ▪ Industry Reports ▪ News Dailies ▪ Credible Paid Databases 15

Research Methodology Currency Exchange Rates • Thecurrency used in the report is the United States Dollar (USD), with the market size indicated in USD million. • Thecompanyrevenuesweretakenfromtheirannual reports. • Average annual currency conversion ratewas used for companies that reported their revenue in other currencies. yr Country 2016 2015 2016 2019 2020 easu rf T ot United States (USD) 1 1 1 1 1 en mart pe India (INR) 61.01 64.12 610.18 65.11 68.41 S D Ud China (Yuan) 6.16 6.28 6.64 6.76 6.62 ce an irv el S Bangladesh (Bangladeshi Taka) 76.2613 76.4603 76.6326 77.6070 82.8187 isca Fe hf t Indonesia ( Indonesian Rupiah) 12,165.5 12,391.6 13,736.3 13,513.5 13,506.3 o aure u B Sri Lanka (Sri Lanka Rupee) 130.675 131.111 140.930 146.980 153.282 The x, eor Vietnam (Vietnamese Dong) 20,930.1 21,129.2 22,019.7 22,468 22,674 S F U ce:ur oS 16

Industry Brief According to TechSci Research report, “Asia Pacific Bus Market By Length Type (Less than 8m, Between 8m-10m, Between 10m-12m, Greater than 12m), By Fuel Type (Diesel, Petrol/Gasoline, Gas, Electric, Hybrid), By Seating Capacity (Less than 30, Between 30-40, Greater than 40), By Body Type (Fully Built, Customizable), By Application (Transit Bus, School Bus/Others, Motorcoaches), By Country, Competition, Forecast & Opportunities, 2026”, Asia Pacific Bus market is anticipated to reach 42.57 thousand units by 2026 because of growing environmental concerns about diesel buses, which emit a lot of pollution that is harmful to people's health and the environment, as well as increasing government measures to encourage the use of electric buses. Due to increasing fleet of personal two-wheelers and four-wheeler vehicles on roads, the level of pollution is increasing day by day which is a huge concern. Not only this, increasing fleet of personal vehicles is affecting the environment and also leading to traffic congestion which is creating lots of issues for the daily travellers on the roads. To overcome the issue of environmental pollution and traffic congestion governments are taking necessary steps like promoting buses for daily travelling by decreasing subsidies on buses and benefits for increasing the adoption rate of electric vehicles and replacing heavy-duty diesel and gasoline-run buses with zero-emission electric buses. Electric buses have the potential to significantly reduce pollution levels because no gases will escape from the vehicle and produce pollution. However, because more people will opt to commute by bus as a result of increased bus services, these buses will also help to reduce traffic congestion. However, the deployment of electric buses will depend upon country wise policy and also the number of charging stations in respective countries. To run the electric buses on roads, countries should have a strong charging infrastructure to avoid problems. Asia Pacific Bus market can be segmented on the basis of length, by fuel type, by seating capacity, by body type and by application. Based on length type, less than 8m buses is leading the market. But in 2020, the sales of buses with length 10m-12m increased because of their for intracity and intercity application. In by fuel type, diesel buses are dominating the market with over 90% market share in 2020. In the forecast period also, it is expected that diesel buses will dominate the bus market, but electric buses segment is expected to grow at a CAGR of 24.18% in comparison to diesel buses. In by seating capacity segment, the buses with below 30 seats are leading the market because of their high demand for intracity purposes. In by body type segment, the fully built buses are dominating the Asia pacific bus market and in forecast period also they are expected to dominate the market. In by application type bus segment, transit buses are leading the market because of their high demand as intracity buses and followed by motorcoaches. The demand for motorcoaches buses is also more because such buses are used mainly as intercity buses and also for the sightseeing purpose. Major players operating in Asia Pacific Bus market are Toyota Motor Corporation, SML Isuzu Ltd., Hino Motors, Ltd. etc., are among some of the leading players operating in Asia Pacific Bus market. Apart from these companies, AB Volvo, MAN, Daimler AG, Nissan and Mitsubishi Fuso Truck and Bus Corporation are key players, who are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies adopted by market players include mergers and acquisition, new product developments and increasing their marketing activities andenriching product portfolio globally to increase their customer outreach. “In 2020, Japan accounted for the largest share i.e., 40.63% in Asia Pacific Bus market and it is expected to dominate in the forecast period also. Japan is leading the Asia Pacific Bus market because of increasing tourism and awareness among people regarding using buses”, said Mr. Karan Chechi, ResearchDirector with TechSci Research, a research based global managementconsulting firm. 17

Sample Data -Snapshot Asia Pacific Bus Market Size, By Value (USD Million) & Volume (Thousand Units), 2016–2026F (USD Million) 15.00 12.00 13.00 14.00 110.00 9.00 10.00 11.00 80.00 90.00 100.00 6.00 7.00 8.00 50.00 60.00 70.00 5.00 20.00 30.00 40.00 10.00 2016 CAGR BY Value & Volume 2020 2021E CAGR BY Value & Volume 2026F XX% By Value (USD Million) YY% By Volume (Thousand Units) Asia Pacific Bus Market Share, By Length Type, By Volume, 2016–2026F Less than 8m Between 8m-10m Between 10m-12m Greater than 12m 2026F 25% 25% 25% 25% 2025F 25% 25% 25% 25% 2024F 25% 25% 25% 25% 2023F 25% 25% 25% 25% 2022F 25% 25% 25% 25% 2021E 25% 25% 25% 25% 2020 25% 25% 25% 25% 2019 25% 25% 25% 25% 2018 25% 25% 25% 25% 2017 25% 25% 25% 25% 2016 25% 25% 25% 25% Australia Bus Market Share, By Fuel Type, By Volume, 2016–2026F Diesel Electric & Hybrid Petrol/Gasoline CNG 2026F 25% 25% 25% 25% 2025F 25% 25% 25% 25% 2024F 25% 25% 25% 25% 2023F 25% 25% 25% 25% 2022F 25% 25% 25% 25% 2021E 25% 25% 25% 25% 2020 25% 25% 25% 25% 2019 25% 25% 25% 25% 2018 25% 25% 25% 25% 2017 25% 25% 25% 25% 2016 25% 25% 25% 25% 18

Competitor Profile Report Name: ASIA PACIFIC BUS MARKET MARKET FORECAST & OPPORTUNITIES 2016 – 2026 License Type Price Single User License $4900 Multi-User License $5900 Custom Research License $8900 To View Sample OR Purchase Report 19

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