Report Code: A12258 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Mini Bus Market
Request Now !A minibus is a passenger-carrying vehicle that can carry fewer people than a full-size bus but more people than a multi-purpose minivan. A Minibus has a seating capacity between 8 and 35 seats and is typically front-engine step-entrance vehicles with low floors. The growing corporate trend to move a large group of people more affordably, without sacrificing reliability has enforced many companies to add minibus services to their company. At the same time, the ever growing need for public transport for complex road networks is foreseen to enforce the demand for minibus in the global market over the forecast period. Owing to the cost-effective price range and higher degree of customizability, the purpose build type minibus is gaining traction among various end users. China is expected to be the fastest growing region over the forecast period.
COVID-19 Impact analysis
The coronavirus pandemic has spread rapidly across the globe, causing a complete halt in daily routines and deploying global resources. The effects of coronavirus are also seen in the public transport sector as government norms such as lockdowns and social distancing needs to be followed. Additionally, the availability of drivers has become a challenge due to the threat of getting infected by the virus. Besides, consumer preference has shifted towards personal mobility and would avoid public transport for some time. These factors would affect the mini bus market globally.
Top Impacting Factors
The mini bus market trends are as follows:
Electric mini bus to bolster the market
the rise in concerns for environmental degradation due to harmful emissions from vehicles, the automakers and governments are promoting the use of alternative fuel in order to reduce the greenhouse effect. As a result, the manufacturing and sales of the electric mini bus have paced in recent years. Additionally, OEMs are investing heavily in the development of electric mini bus. In June 2021, Hyundai Motor Company has launched its very first AC electric mini bus for intra city travel in India. The company is aiming to target daily and tourist commuters in India.
Shuttle services to accelerate growth
Shuttle Services are the type of bus services that primarily intend is to transport passengers to and from places. A shuttle service can eliminate many risk factors such as getting lost, missing a meeting, etc. As shuttle services offer stress-free travel due to reduced hassle of driving, thus the demand for mini buses is rising. Additionally, increasing adoption of mini bus for shuttle services is fueling the market. Moreover, online platforms have increased the adoption of shuttle services. For instance, Uber is planning to start a bus shuttle service in India. The company had previously launched the service in Egypt in 2018 and expanded it to several cities in West Asia and Latin America. Also, in July 2021, Pune Municipal Corporation (PMC) has launched its intra city mini bus services connecting all major areas of city. Thus, shuttle service propel the market for mini bus.
Rising demand for recreational activities
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.
Key benefits of the report:
Questions answered in the mini bus market research report:
Mini Bus Market Report Highlights
Aspects | Details |
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By Propulsion |
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By Purpose |
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By Body |
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By Seating Capacity |
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By End Use |
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By Region |
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Key Market Players | Integralia Movilidad, Komvek Karoser Limited Sirketi, Mussa & Graziano srl, Carrocerias Ferqui, CaetanoBus, Unidad de VehÃculos Industriales, Car-bus.net, Woodall Nicholson Limited (Mellor Coachcraft), Al Fahim Group (Erduman Automotive), Brian Noone Limited |
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