Minibus Market to Witness Increase in Revenues through 2019-2029
This study underlines the key future prospects in the minibus market and finds that the market would exhibit growth at a value CAGR of ~4% in the forecast period. In a bid to recognize the growth prospects in the minibus market, the global minibus market study has been geographically fragmented into important regions that are progressing faster than the overall market. Each segment of the minibus market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the following regions:
- North America (Canada, US)
- Latin America (Argentina, Mexico)
- Europe (NORDIC, UK)
- APEJ (China, India)
The key players in the global minibus market report consist of
- MAN Truck & Bus
- Marcopolo S.A
- Toyota Motor Corporation
- Renault SA
Each market player encompassed in the minibus market study is assessed according to its market share, production footprint, current launches, agreements, ongoing R&D projects, and business tactics. In addition, the minibus market study scrutinizes the strengths, weaknesses, opportunities and threats (SWOT) analysis.
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According to the research, an increasing center of attention on new developments and the demand for various types of commuter vehicles such as shared taxis are likely to fuel the growth of the minibus market by the end of 2029. Rise in vehicle sales and increasing level of consumer’s demand for hybrid and electric vehicles will continue to prove profitable for the global market for minibus in the coming future.
South Asia Foreseen to Witness More Demand for Minibuses and is Growing with ~4.8% Value CAGR over the Forecast Period.
Increasing traffic densities across the globe have resulted in an acceleration in demand for passenger vehicles. The continuous rise in the economic strength of Asia Pacific countries has made consumers in the region capable of spending more on various automotive products. North America minibus market incorporates the analysis for US and Canada, owing to the requirement for higher public transportation thus holding a significant share in the minibus market. School minibus holds almost 20% value share due to better suitability for school purposes.
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Fact. MR’s business perception is also focusing on innovative insights into the competitive landscape of the minibus market along with highlights of manufacturers’ differential blueprint. Key players in the minibus market will continue to draw upon R&D for offering new products in their existing portfolio. For instance, in the year 2019, Toyota Motor Corporation, a Japanese multinational automotive manufacturer, launched a new minibus Toyota Coaster 2019 with the advanced design as well as having a 2.7 L petrol engine and 4.2 L diesel engine.