According to the latest report by IMARC Group, titled “Luxury Shuttle Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” the global luxury shuttle bus market is expected to exhibit a CAGR of 8.6% during 2023-2028. A luxury shuttle bus is a short-haul transport that is either one-way or has multiple stops, mainly found in airports. It plies back and forth between two points and travels a shorter route than other bus routes. It is specifically designed to move large groups of individuals traveling to and from a specific destination in an organized manner. It is also used to transport people from airports to hotels. There are various types of shuttle buses, such as airport buses, university shuttles, rail replacement buses, employee shuttles, and community transport. It offers several benefits, including improved coordination, cost efficiency and sustainability, safety, ease of transport access, and smooth transportation experience. A luxury shuttle bus can extend mileage and is a less expensive alternative. It has numerous amenities not provided by a standard bus and is equipped with facilities and technology, such as kitchens and internet access.
Global Luxury Shuttle Bus Market Trends:
The global market is majorly driven by the increasing demand for luxury shuttle buses for luxury guided tours and sightseeing. In line with this, the rising popularity of electric and hybrid luxury buses due to growing environmental concerns is significantly contributing to the market. Furthermore, the escalating demand for luxury shuttle buses across airports and amusement parks is positively influencing the market. Apart from this, continual improvements in interiors and designs of luxury buses and technological advancements are catalyzing the market. Moreover, the key players are focusing on introducing new types of luxury shuttle buses with outstanding features and amenities to gain a strong foothold in the market. Besides, the shifting preference of individuals toward luxury buses over conventional buses is favoring the market growth. Additionally, the favorable initiatives undertaken by several governments to promote public transport services are anticipated to provide a boost to market expansion. Some of the other factors driving the market include the escalating demand for shuttle buses for weddings, concerts, and corporate events, significant growth in the travel and tourism industry, and the inflating disposable income levels of the masses.
- On the basis of the propulsion type, the market has been categorized into diesel and gasoline, alternate fuels, battery electric buses, and hybrid electric buses.
- Based on the seating capacity, the market has been classified into below 25 passengers, 25 to 40 passengers, and above 40 passengers.
- Based on the application, the market has been segmented into corporate, government, school coach, airport shuttle, hospital, and medical coach, tourist coach, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Arboc Specialty Vehicles LLC, Beiqi Foton Motor Co. Ltd., Forest River Inc. (Berkshire Hathaway Inc.), Grech Motors, Isuzu Motors Ltd., Iveco, Kamaz, King Long United Automotive Industry Co. Ltd, Lge Coachworks Inc., Proterra Inc., Zhengzhou Yutong Bus Co. Ltd. and Zhongtong Bus Holding Co. Ltd.
|Base Year of the Analysis
||Propulsion Type, Seating Capacity, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Arboc Specialty Vehicles LLC, Beiqi Foton Motor Co. Ltd., Forest River Inc. (Berkshire Hathaway Inc.), Grech Motors, Isuzu Motors Ltd., Iveco, Kamaz, King Long United Automotive Industry Co. Ltd, Lge Coachworks Inc., Proterra Inc., Zhengzhou Yutong Bus Co. Ltd. and Zhongtong Bus Holding Co. Ltd.
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