Buses And Coaches Market Research Report 2023-2032 | Size, Growth, Demand, Trends

As per The Business Research Company's Buses And Coaches Opportunities And Strategies Market Report 2023, The global buses and coaches market reached a value of nearly $42,658.9 million in 2022, having increased at a compound annual growth rate (CAGR) of 3.4% since 2017. The market is expected to grow from $42,658.9 million in 2022 to $57,023.1 million in 2027 at a rate of 6.0%. The market is then expected to grow at a CAGR of 6.1% from 2027 and reach $76,629.6 million in 2032.

The rising demand for mini-buses and coaches is expected to be a major driver of the buses and coaches market going forward. A mini-bus is a type of bus that helps passengers to commute from one place to another. It is designed to carry more people compared with a multi-purpose vehicle and at the same time a lesser number of people than a full-sized bus. As the auto manufacturers are ensuring that all buses and coaches are equipped with all safety and security features, the sales of light commercial vehicles, such as vans, mini-buses, and coaches, are expected to increase due to travel demand. For instance, according to the American Bus Association Foundation (ABAF), a US-based nonprofit organization with an emphasis on scholarships, research, and continuing education, in the USA and Canada, the sales of new motor coaches increased by 11% in the first quarter of 2022 compared to 2021. Therefore, the demand for mini-buses and coaches will help the market grow during the forecast period.

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Product innovations are a key trend in the buses and coaches market. Companies operating in the buses and coaches market are focusing on developing new, innovative buses and coaches to grow in the market. For instance, in August 2022, Volvo Buses India, VE Commercial Vehicles Limited (an India-based commercial vehicles firm) division, launched the next-gen Volvo 9600 platform. The initial products on this platform are sleeper and seater coaches with dimensions of 15 meters (6x2) and 13.5 meters (4x2). These buses, according to Volvo, are the longest in India. The sleeping coach has 40 berths, but the 15-meter seater coach can accommodate 55 passengers. There is 15.1 cu.m. (cubic meter) of luggage capacity in the seater application and 9.2 cu.m. in the sleeper application, respectively. Up to 47 people can sit in the 13.5-meter coach, while 36 can sleep in the sleeper version. The corresponding luggage space for the seater and sleeper versions is 13.6 cu.m. and 8.1 cu.m., respectively.

Opportunities -The top opportunities in the buses and coaches market by fuel type will arise in the diesel market, which will gain $8,751.7 million of global annual sales by 2027. The top opportunities in the buses and coaches market by application will arise in the general transit market, which will gain $6,767.9 million of global annual sales by 2027. The top opportunities in the buses and coaches market by body built will arise in the fully built market, which will gain $8,489.8 million of global annual sales by 2027. The buses and coaches market size will gain the most in China at $3,257.7 million.

Buses And Coaches Market Segmentation:
The Buses And Coaches market is segmented

By Fuel Type -
The buses and coaches market is segmented by fuel type into:
a) Diesel
b) Electric And Hybrid
c) Other Fuel Types

By Application -
The buses and coaches market is segmented by application into:
a) General Transit
b) Personal And Recreational
c) Tourist
d) Other Applications.

By Body Built -
The buses and coaches market is segmented by body built into:
a) Fully Built
b) Customizable

Major players in the Buses And Coaches market include Daimler Truck Group, Volkswagen AG, Iveco Group, Zhengzhou Yutong Bus Co., Ltd., Volvo Group.

The regions covered in the global Buses And Coaches market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Buses And Coaches Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Buses And Coaches Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
……………………………………………………………..
18. Competitive Landscape And Company Profiles
19. Key Mergers And Acquisitions
20. Opportunities And Strategies
21. Buses And Coaches Market, Conclusions And Recommendations
22. Appendix

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