PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498784
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498784
Minibus Market, By Type, By Capacity, By End-User, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
REPORT HIGHLIGHT
Minibus Market size was valued at USD 9,912.03 million in 2023, expanding at a CAGR of 5.20% from 2024 to 2032.
The minibus market encompasses the segment of the automotive industry focused on manufacturing and selling passenger vehicles typically seating between 8 to 30 passengers, offering a balance between capacity and maneuverability for various transportation needs. This market is primarily driven by increasing demand for efficient urban transportation solutions, growing tourism activities, and rising adoption of shared mobility services. However, restraints such as regulatory challenges, safety concerns, and fluctuating fuel prices may hinder market growth. Nevertheless, opportunities lie in technological advancements such as electric and autonomous minibusses, as well as expanding markets in emerging economies with growing urban populations and transportation needs.
Minibus Market- Market Dynamics
Expanding Tourism Industry Fuels Growth of Minibus Market
The expanding tourism industry is driving significant growth in the minibus market globally. For instance, according to the World Tourism Organization, international tourist arrivals reached 1.4 billion in 2018, representing a 6% increase over the previous year. This surge in tourism activities has created a robust demand for transportation solutions, particularly in popular tourist destinations and cities with significant visitor influx. Additionally, government initiatives aimed at promoting tourism, such as infrastructure development projects and visa liberalization policies, are further bolstering the demand for minibusses for both tourist transportation and sightseeing tours. As the tourism industry continues to expand, the minibus market is poised for sustained growth, presenting lucrative opportunities for manufacturers and service providers alike.
Minibus Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.20% over the forecast period (2024-2032)
Based on Type segmentation, Electric Minibuses were predicted to show maximum market share in the year 2023
Based on Capacity segmentation, 10-20 Passengers was the leading type in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
Minibus Market- Segmentation Analysis:
The Global Minibus Market is segmented on the basis of Type, Capacity, End-User, and Region.
The market is divided into two categories based on Type: Conventional Minibuses and Electric Minibuses. Electric minibusses hold a higher share compared to conventional minibusses in the market. The shift towards electric vehicles driven by environmental concerns, government incentives, and advancements in battery technology has spurred the demand for electric minibusses, particularly in urban areas aiming for sustainable transportation solutions.
The market is divided into three categories based on Capacity: Below 10 Passengers, 10-20 Passengers, and Above 20 Passengers. Capacity of 10-20 passengers holds a higher share compared to below 10 passengers and above 20 passengers in the minibus market. This mid-range capacity segment caters to various transportation needs, including shuttle services, school transportation, and small group tours, driving its widespread adoption.
Minibus Market- Competitive Landscape:
Recent Developments:
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL MINIBUS MARKET, BY TYPE- MARKET ANALYSIS, 2019 - 2032
GLOBAL MINIBUS MARKET, BY CAPACITY- MARKET ANALYSIS, 2019 - 2032
GLOBAL MINIBUS MARKET, BY END-USER- MARKET ANALYSIS, 2019 - 2032
GLOBAL MINIBUS MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
Table of Contents
1. Minibus Market Overview
- 1.1. Study Scope
- 1.2. Market Estimation Years
2. Executive Summary
- 2.1. Market Snippet
- 2.1.1. Minibus Market Snippet by Type
- 2.1.2. Minibus Market Snippet by Capacity
- 2.1.3. Minibus Market Snippet by End-User
- 2.1.4. Minibus Market Snippet by Country
- 2.1.5. Minibus Market Snippet by Region
3. Minibus Key Market Trends
4. Minibus Industry Study
5. Minibus Market: COVID-19 Impact Analysis
6. Minibus Market Landscape
7. Minibus Market - By Type
8. Minibus Market - By Capacity
9. Minibus Market - By End-User
10. Minibus Market- By Geography
11. Key Vendor Analysis- Minibus Industry
12. 360 Degree Analyst View
13. Appendix
List of Tables
- TABLE List of data sources
- TABLE Market drivers; Impact Analysis
- TABLE Market restraints; Impact Analysis
- TABLE Minibus Market: Type Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Type
- TABLE Global Minibus Market, by Type 2019-2032 (USD Million)
- TABLE Minibus Market: Capacity Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Capacity
- TABLE Global Minibus Market, by Capacity 2019-2032 (USD Million)
- TABLE Minibus Market: End-User Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by End-User
- TABLE Global Minibus Market, by End-User 2019-2032 (USD Million)
