Minibus Market Covering Trends, Market Share and Forecast to 2029

Posted on 2019-10-09 by Mark Hub in Automotive // 0 Comments

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.

Competition Dashboard

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.

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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.

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