In­dian bus mar­ket geared to reach $10.34 bil­lion

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The Re­search and Mar­kets ‘Bus Mar­ket in In­dia 2015 - 2020’ re­port says the In­dian bus mar­ket is geared to reach $10.34 bil­lion by 2019-20 and grow at a 9.36% CAGR, driven by an in­creas­ing de­mand for lux­ury and value. SRTUs and pri­vate fleet op­er­a­tors ac­count for al­most 2/3 of the M&HCV buses sold in In­dia. While the diesel bus mar­ket, which con­sti­tutes a ma­jor mar­ket share in the over­all In­dian bus mar­ket, is ex­pected to grow at 7.24% CAGR, the CNG/LPG bus mar­ket oc­cu­py­ing a mi­nor mar­ket share will grow at 18% CAGR. The fast emerg­ing elec­tric bus mar­ket in In­dia will ex­pand at an es­ti­mated CAGR of 19% till 2019-20. A ro­bust 25% CAGR is pre­dicted for In­dia’s hy­brid bus mar­ket. In terms of vol­ume, the petrol bus mar­ket, which con­trols the 2nd largest mar­ket share in the en­tire bus mar­ket, is fore­cast for 11% CAGR.

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