Luxury Shuttle Bus Market

Market Overview:

The global luxury shuttle bus market size reached US$ 3.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.6% during 2023-2028.

A luxury shuttle bus is a premium mode of transportation offering numerous amenities, which are not provided by a standard shuttle bus. These include leather seats, Wi-Fi, television (TVs), complimentary beverages and snacks, extra legroom, reclining seats, footrests, personal attendants, fleece blankets and pillows, power outlets, high-capacity cargo bays, overhead luggage area, and on-board restrooms. A luxury shuttle bus may also have kitchenettes equipped with a microwave, fridge and sink, and a bar wherein alcoholic beverages are restocked and included in the rental price. 

Luxury Shuttle Bus Market Trends:

At present, there is a considerable rise in the use of luxury shuttle buses for airport transfers, weddings, concerts, corporate events, birthdays and anniversaries, graduations, sightseeing tours, and bachelor and bachelorette parties around the world. This, in confluence with the thriving travel and tourism industry, represents one of the key factors bolstering the growth of the market. Besides this, luxury transport has gained immense traction in recent years on account of improving social status of individuals, especially in developing countries. In addition, tourists are regularly sharing uncommon, luxurious, highly exclusive, and expensive travel experiences on social media platforms. This, coupled with the increasing utilization of luxury transport by celebrities, executives, and people with discerning tastes and needs, is impelling the growth of the market. Apart from this, luxury transport services hire licensed and highly experienced drivers by screening them before employment. Furthermore, luxury buses offer custom paint jobs to match their luxurious interior. This, along with the rising number of high-net-worth individuals (HNWIs) across the globe, is anticipated to create a positive outlook for the market and industry investors in the upcoming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global luxury shuttle bus market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on propulsion type, seating capacity and application.

Breakup by Propulsion Type:

• Diesel and Gasoline
• Alternate Fuels
• Battery Electric Buses
• Hybrid Electric Buses
   

Breakup by Seating Capacity:

• Below 25 Passengers
• 25 to 40 Passengers
• Above 40 Passengers
   

Breakup by Application:

• Corporate
• Government
• School Coach
• Airport Shuttle
• Hospital and Medical Coach
• Tourist Coach
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage: