Scope of the Report
This report provides an in-depth analysis of the global Luxury Shuttle Bus Market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, and the rest of the world. The report also presents a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the Global Luxury Shuttle Bus Market Trends, by Seating Capacity, Propulsion Type, Application, and region.
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Market Highlights
Global Luxury Shuttle Bus Market size is anticipated to register a significant CAGR of 8% between 2020 and 2026. A luxury shuttle bus is a form of transportation that may feature many amenities which are not provided by a standard bus or motor coach. These buses offer increased passenger comfort, such as more leg room, or if they have been equipped with facilities and technology, such as kitchens and Internet access, that are not normally present in other types of buses. Luxury shuttle buses typically cost more to charter than a regular bus or coach because the owners usually invest a greater amount of money in them.
Luxury shuttle buses may include an assortment of features to make them more appealing. One of the most common changes is the replacement of some or all of the seats with more comfortable or more stylish seating. Sometimes luxury shuttle buses have much less seating than a regular bus to give passengers more leg room or to make space for other interior amenities. Movement of luxury shuttle buses has become a distinct trend across cosmopolitan cities and towns. The recent uptick in the number of people using public transport facilities for their daily commutes has sent ripples across the global market. The use of luxury shuttles has cascaded into multiple industries including transport, tourism, and aviation. The unprecedented demand for shuttle buses can largely be attributed to the changing propensities of the masses.
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Global Luxury Shuttle Bus Market size is anticipated to register a significant CAGR of 8% between 2020 and 2026.
Based on region, the global Luxury Shuttle Bus market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia Pacific held a major share of the global luxury shuttle bus market in 2019, followed by Europe, owing to the high production of luxury buses, and increasing preference for luxury shuttle buses over conventional buses in the region. Moreover, presence of leading manufacturers in both regions has been a key factor contributing to the higher production. In Asia Pacific, availability of large production facilities and large consumer base have attracted investment by leading manufacturers in the region. Presence of major luxury shuttle bus manufacturers, such as Toyota Motor Corporation, Volvo AB, Daimler AG, and Volkswagen, in Asia Pacific and Europe led the regions to hold a prominent share of the global market.
Global Luxury Shuttle Bus Market has been segmented by Seating Capacity, Propulsion Type, Application, and region. Based on Seating Capacity, the global Luxury Shuttle Bus market can be bifurcated into Below 25 Passengers, 25 to 40 Passengers, and Above 40 Passengers. The 25 to 40 Passengers segment is anticipated to grow at a significant CAGR in the coming years. By Propulsion Type, the Luxury Shuttle Bus market has been split into Diesel/Gasoline, Alternate Fuels, Battery Electric Buses, and Hybrid Electric Buses. The Alternate Fuels segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years. By Application, the Luxury Shuttle Bus market growth rate has been split into Corporate, Government, School Coach, Airport Shuttle, Hospital & Medical Coach, Tourist Coach, and Others. The Tourist Coach segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years.
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Key Players
Key players in the global Luxury Shuttle Bus market are ARBOC Specialty Vehicles, LLC, Daimler AG, Forest River, Inc., Grech Motors, Isuzu Motors Ltd., LGE Coachworks, Proterra Inc., REV Group, Toyota Motor Corporation, and CNH Industrial N.V.
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