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A luxury shuttle bus is a type of public transportation that consists of several features not provided by a motor coach or standard bus. These buses offer better comfort for passengers, such as increased legroom space, or also they can be equipped with numerous technology and facility, such as internet access and kitchens. These buses are more appealing in terms of design, and they have less seating than a conventional bus to give space for other interior amenities.
Consumers' increased preference towards luxury buses over conventional buses and major advancements in technology are expected to drive the growth of the market. Additionally, increased initiatives made by several governments to promote public transport services are expected to boost the growth of the market. However, the high prices of luxury shuttle buses and increased maintenance charges are expected to hamper the growth of the market.
Key Market Driver -
The increased usage of public transport, preference of luxury buses over conventional buses and major advancements in technology are expected to drive the market growth
Key Market Restraint -
the increased prices of luxury shuttle buses and increased maintenance charges are expected to hamper the growth of the market.
The global luxury shuttle bus market is segmented by seating capacity, by propulsion type, by application, and by geography. Based on seating capacity, the market is further sub-segmented into below 25 passengers, 25 to 40 passengers, and above 40 passengers. The 25 to 40 passengers segment is expected to hold the largest share of the market during the forecast period. These buses have optimal seating capacity and also offer a high number of extra amenities, which is attributed to the dominance of this segment. Based on propulsion type, the market is segmented into diesel/gasoline, alternate fuels, battery-electric buses, and hybrid electric buses. The hybrid electric buses segment held the largest share of the market in 2020. The increased carbon emission concerns and increased prices of fuels are some of the factors driving the growth of this segment. Based on application, the market is segmented into corporate, government, school coach, airport shuttle, hospitals and medical coach, tourist coach, and others. The tourist coach segment accounted for the largest market share in 2020. Factors such as increased demand for comfortable luxury buses with additional features such as free Wi-Fi and personal power outlets are expected to drive the demand for luxury shuttle buses in the tourism industry.
Major players operating in the global luxury shuttle bus market include Daimler AG, CNH Industrial N.V., Forest River, Proterra, ARBOC Buses, Federal Coach, Krystal Shuttle Buses, Kamaz, Scania AB, Volkswagen AG, Tata Motors, Toyota Motor Corporation, KSIR Buses, Isuzu Motors Ltd. and LGE Coachworks among others
Geographically, the global luxury shuttle bus market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific held the largest share of the market in 2020. Factors such as the presence of extensive facilities for production and a vast consumer base in the region are expected to boost the growth of the market. North America is expected to show steady growth in the market during the forecast period due to customers' increased preference towards luxury buses over conventional buses. Europe is expected to account for a considerable share in the market by the end of the forecast period. Factors such as the presence of major market players in the region and the higher disposable income of the consumers are expected to drive the growth of the market in this region.
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By Seating Capacity
By Propulsion Type
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