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We expect the global luxury shuttle bus market to exhibit a CAGR of 8.94% during 2022-2027.
The expanding travel and tourism industry, along with the rising demand for luxury shuttle bus for weddings, corporate events, personal celebrations, etc., is primarily driving the global luxury shuttle bus market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for luxury shuttle bus.
Based on the propulsion type, the global luxury shuttle bus market can be segmented into diesel and gasoline, alternate fuels, battery electric buses, and hybrid electric buses. Currently, alternate fuels hold the majority of the total market share.
Based on the seating capacity, the global luxury shuttle bus market has been divided into below 25 passengers, 25 to 40 passengers, and above 40 passengers. Among these, 25 to 40 passengers exhibit a clear dominance in the market.
Based on the application, the global luxury shuttle bus market can be categorized into corporate, government, school coach, airport shuttle, hospital and medical coach, tourist coach, and others. Currently, tourist coach accounts for the majority of the global market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global luxury shuttle bus market 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.
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