High Seating Capacity Minibus to be the Top Revenue Pocket in the Global Minibus Market
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. The 9 - 15 seating capacity minibus is one of the most sought after segment by the manufacturers as well as the end users as it allows to achieve desired changes as per the requirement in a low price bracket. With growing population, the requirement of affordable and reliable public transportation is also increasing which is in turn foreseen to enforce the demand for minibuses during the forecast period. The 26 – 35 seating segment appears to be the most remunerative segment in global minibus market. The segment is anticipated to create incremental opportunity of US$ 1,731.8 Mn by the end of 2029
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Purpose Build Minibus Gains Traction Through Cost-Effectiveness
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.
Minibus for Recreational Purposes to Gain Significant Impetus
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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East Asia to Emerge as the Dominant Region While Political Turmoil in MEA Hampers its Market
The global market for minibus is assessed across seven regions: North America, Europe, MEA, East and South Asia, Latin America and Oceania. Amongst all of the above stated regions, East Asia is to account for maximum share in terms of volume as well as value and is expected to remain dominant over the forecast period. China is expected to be the fastest growing region over the forecast period. Japan alone occupies around 30% share in minibus market for East Asia due to the ever growing public transportation industry.
Collectively, Japan and South Korea are foreseen to generate incremental dollar opportunity of over US$ 406 Mn by the of forecast duration in the global minibus market.
Some regions, such as Oceania and Middle East & Africa, have seen near-to-stagnant growth in the past few years as compared to other growing regions owing to various political and technological conflicts. This naturally hinders the incorporation of technical expansions in minibus market. The global market for minibus is anticipated to generate incremental opportunity of US$ 3,758.1 Mn and foreseen to expand at a CAGR of 3.7% in terms of value across the forecast period.
The competitive assessment section of the global minibus market analysis provides the most intuitive facts and figures regarding the prominent manufacturers in global minibus market, their business approaches and market reach. The global minibus market is expected to grow at a noteworthy rate across the forecast period as the manufacturers in the global minibus market are rising and the rivalry among existing contenders is foreseen to grow by the end of 2029.
The global market for minibus appears to be a bit fragmented in nature and consist of both regional and global level players. Some of the prominent players operating in the global market for minibus are Woodall Nicholson Limited (Mellor Coachcraft), Carrocerias Ferqui Sl, Unidad de Vehículos Industriales, SA, Integralia Movilidad S.L., Car-bus.net, CaetanoBus, Mussa & Graziano srl, Al Fahim Group (Erduman Automotive), Komvek Karoser Limited Sirketi, Brian Noone Limited, Dypety Srl, Rosero - P S.R.O., AS DOMŽALE D.O.O., Otokar Otomotiv ve Savunma Sanayi AS, Feniksbus D.O.O., Irmaos Mota, D'Auria Group, BARBI COACH & BUS srl, Auto-CUBY Sp. z o.o., Sitcar Italia Srl.
Minibus Market – Scope of the Report
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.
Key Segments Covered in Minibus Report:
On the Basis of Body, the Global Minibus Market Can Be Segmented into:
- Body Build
- Purpose Build
On the Basis of Seating Capacity, the Global Minibus Market Can Be Segmented into:
- 9 – 15
- 16 – 25
- 26 – 35
On the Basis of End Use, the Global Minibus Market Can Be Segmented into:
- School Bus
- Recreational Purpose
On the Basis of Region, the Global Minibus Market can be Segmented into:
- North America
- Latin America
- Middle East & Africa (MEA)
- East Asia
- South Asia
A detailed analysis for minibus market has been provided for every segment, in terms of market size (volume and value) analysis for minibus.
The report starts with the market overview and provides market definition and analysis about drivers, restraints, opportunities, supply chain analysis, key buying factors and key trends in the minibus market. The next section includes global market analysis, analysis by body, seating capacity, end use and a region level analysis for Minibus. All the above sections evaluate the market for minibus on the basis of various factors affecting the market and covers the present scenario and future prospects. For market data analysis, the report considers 2018 as the base year, with Minibus numbers estimated for 2019 and forecast made for 2019–2029.
It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyze the same on the basis of key parameters, such as the year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities for market players.
Another key feature of the minibus report is the analysis of all the key segments in terms of absolute dollar. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as in identifying potential resources, from a sales and delivery perspective in the Minibus.
Research Methodology of Minibus Market
The report titled “Minibus Market” focuses on providing information regarding the volume and value of market from a global perspective. The research on the minibus market was initiated through secondary research on the product, using both top-down and bottom-up approaches, right down to the country and segmental level. Light commercial vehicle trends and growth projections were taken into consideration to arrive at the total Minibus market. In addition to the above secondary research, yearly revenue generated by the various capacities of Minibus has been estimated.
Furthermore, the yearly revenue generated from minibus manufacturing companies from each capacity were obtained from both primary and secondary sources and then benchmarked at the regional level. Fluctuations in annual prices over the forecast period is based on the historic market trends and expected percentage change in the upcoming years on the basis of investment, which is done on the patent market and the related industry. Any decline or increase in price in the upcoming years is linear for all the regions.
The minibus value, thus, deduced was once again cross verified and validated from the supply side. Fact.MR’s proprietary regression analysis forecast model has been adopted to generate the market estimation for the forecast years and takes into account the effects of macroeconomic factors impacting the overall minibus and was further validated by the primary respondents belonging to different levels across the entire value chain of minibus, such as manufacturers and independent service providers.
Minibus Market Participants
In the final section of the minibus market report, a competitive landscape has been included to provide report audiences with a dashboard view. Detailed profiles of minibus manufacturers have also been included within the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the minibus. Key players operating in the global market for minibus, include Woodall Nicholson Limited (Mellor Coachcraft), Carrocerias Ferqui Sl, Unidad de Vehículos Industriales, SA, Integralia Movilidad S.L., Car-bus.net, CaetanoBus, Mussa & Graziano srl, Al Fahim Group (Erduman Automotive), Komvek Karoser Limited Sirketi, Brian Noone Limited, Dypety Srl, Rosero - P S.R.O., AS DOMŽALE D.O.O., Otokar Otomotiv ve Savunma Sanayi AS, Feniksbus D.O.O., Irmaos Mota, D'Auria Group, BARBI COACH & BUS srl, Auto-CUBY Sp. z o.o., Sitcar Italia Srl.
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