The minibus global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Minibus Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The minibus market size has grown steadily in recent years. It will grow from $9.34 billion in 2023 to $9.79 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to the increasing desire for travelers, increasing demand for minibuses, increasing transportation infrastructure, increasing popularity of tourism, and increasing demand for flexible transportation.
The minibus market size is expected to see steady growth in the next few years. It will grow to $11.88 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to the expanding transportation business, growth in tourism and recreational vehicles, urbanization in the minibus industry, government regulations and safety standards, and corporate and institutional fleet upgrades. Major trends in the forecast period include customization and versatility, electrification and sustainability, electric and hybrid powertrains, connectivity and smart features, and integration with urban mobility solutions.
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Scope Of Minibus Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Minibus Market Overview
Market Drivers –
The growing demand for tourism is expected to propel the growth of the minibus market going forward. Tourism refers to the activities and services associated with traveling away from one’s usual place of residence for leisure, business, or other purposes. The rise in tourism is due to increasing disposable incomes, greater accessibility through improved transportation, increased cultural curiosity, social media influence, event tourism, business and educational travel, and more leisure time. Minibuses are used in tourism to provide efficient and comfortable transportation for small groups, offering flexibility and convenience for sightseeing and guided tours. For instance, in May 2024, according to the Office for National Statistics, a UK-based national statistical institute, UK tourists took 86.2 million trips abroad in 2023, a rise from 71.0 million trips in 2022. Therefore, the growing demand for tourism is driving the growth of the minibus market.
Market Trends –
Major companies operating in the minibus market are focusing on developing advanced solutions, such as autonomous minibuses, to enhance passenger convenience and safety. Autonomous minibuses refer to self-driving minibuses equipped with advanced technology to navigate and operate without human intervention. For instance, in May 2024, Renault Group, a France-based automobile manufacturing company, launched an autonomous minibus for public transportation, featuring Level 4 autonomy and enabling self-driving capabilities within defined areas. This initiative supports the increasing demand for low-carbon mobility solutions as European cities move towards low-emission zones. Designed to operate 24/7 without onboard operators, the minibus only requires simple remote supervision, potentially reducing automation costs and offering a cost-effective, zero-emission alternative to traditional public transport options.
The minibus market covered in this report is segmented –
1) By Types: Basic Minibuses, Luxury Minibuses, Eco-friendly Minibuses
2) By Fuel Types: Diesel, Gasoline or Petrol, Electric, Hybrid
3) By Seating Capacity: 9 To 15, 16 To 25, 26 To 35
4) By Applications: Tourism, Event Management, Shuttle Services, Field Trips, Other Applications
5) By End Users: Business Entities, Healthcare Facilities, Non-profit Organizations, Construction Companies, Educational Institutions, Other End Users
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Regional Insights –
North America was the largest region in the minibus market in 2023. The regions covered in the minibus market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the minibus market are Volkswagen Group, TOYOTA MOTOR CORPORATION, Stellantis N.V., Ford Motor Company, General Motors Company, Hyundai Motor Company, Nissan Motor Co Ltd., BYD Motors Inc., AB Volvo, Tata Motors Limited, Dongfeng Motor Corporation, Iveco Group NV., MAN Truck & Bus SE, Ashok Leyland Limited, Marcopolo SA, Anhui Ankai Automobile Co Ltd., Force Motors Limited, Thomas Built Buses Inc, Woodall Nicholson Limited (Mellor Coachcraft), Karsan Otomotiv Sanayii ve Ticaret A.S., Rosero – P S.R.O., Kingstar Bus Co Ltd., Integralia Movilidad S.L.< /b>
Table of Contents
1. Executive Summary
2. Minibus Market Report Structure
3. Minibus Market Trends And Strategies
4. Minibus Market – Macro Economic Scenario
5. Minibus Market Size And Growth
…..
27. Minibus Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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