The report offers actionable and valuable insights on the Minibus market. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Minibus across various industries and regions.
Fact.MR offers a 10-year forecast for the minibus market between 2019 and 2029. In terms of value, the Minibus market is foreseen to register a CAGR of 3.7% across the forecast period (2019–2029).
The primary objective of the report is to offer insights on the advancements in the global minibus market. The study provides market dynamics that are anticipated to impact the current environment and future status of the Minibus market over the forecast period.
The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts and opportunities for manufacturers operating in the Minibus sector.
A section of the report discusses how the overall competition in the minibus market is progressively increasing. It discusses various factors that are shaping internal as well as external competition in the Minibus.
Minibus market is foreseen to grow at a moderate pace in the near future. However, the rising demand of small size buses owing to the increasing need for public transportation for complex road networks is one of the prime factors fueling the demand of minibus in the global market.
The report provides detailed market competition analysis of the minibus on the basis of key manufacturers.
A section of the report highlights overall country-wise minibus market. It provides a market outlook for 2019–2029 and sets the forecast within the context of the report. The report sheds light on key developments and activities executed by the prominent manufacturers operating in the minibus market.
Owing to the cost-effective price range and higher degree of customizability, the purpose build type minibus is gaining traction among various end users. The segment is said to create incremental opportunity of US$ 878.3 Mn in the global minibus market by the end of forecast period. On the other hand, the body build segment is expected to cross US$ 9 Bn by the end of the forecast period.
The body build segment is said to expand ~1.32 times faster than purpose build segment in the global Minibus market.
Touring activities and a rising trend of growing expenditure on leisure and sports, is likely to spur the demand for minibus for recreational purposes. Prospects of minibus for recreational purposes are expected to grow significantly with growing demand for low emission and high performance vehicles that can be used in rough terrains and adverse environment conditions, which has diverted the focus of manufacturers of minibus for recreational purposes towards sustainable designs and technologies.
The recreational purpose segment is anticipated to create incremental opportunity of around US$ 280 Mn by the end of 2029. Furthermore, the school segment is anticipated to witness significant growth over the forecast period in the global minibus market.
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Key Segments Covered in Minibus Report:
On the Basis of Body, the Global Minibus Market Can Be Segmented into:
On the Basis of Seating Capacity, the Global Minibus Market Can Be Segmented into:
On the Basis of End Use, the Global Minibus Market Can Be Segmented into:
- School Bus
- Recreational Purpose
- Others
On the Basis of Region, the Global Minibus Market can be Segmented into:
- North America
- Latin America
- Europe
- Middle East & Africa (MEA)
- East Asia
- South Asia
- Oceania
Rise in Demand for Electric Vehicles Creating Opportunities for Key Market Players
The global automotive industry is witnessing rapid growth and consumer’s demand for vehicle electrification is an emerging trend gaining widespread momentum in urban, traffic planning, and power system studies. Government authorities, particularly in developed countries, are mandating the shift from internal combustion to fully electric vehicles. Diffusion of electric vehicles significantly affects the power system’s operations, however it paves the way for a wide range of opportunities for future system developments, such as curtailing the fossil fuel dependency and emissions of environment pollutants. These benefits will continue to drive the trend of vehicle electrification in the near future, which indirectly forces manufacturers to reshape the dynamics of the global minibus market.
According to the Fact.MR, 26-35 passenger capacity minibuses are expected to account for the largest revenue share in the global minibus market, with the global value poised to reach ~ US $ 3.6 Bn by the end of 2019. Among various applications, minibuses for recreational purposes is projected to remain the most sought-after among passengers. Revenue generation for taxicab type minibus services and school minibus services is likely to remain highly attractive in the forecast period.
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