The global minibus market is anticipated to grow at a CAGR of around 4.5% during the forecast period 2020 to 2027 and to reach around US$ 12.1 Bn by 2027.

Market Dynamics

Rising tourism across the globe, demand for vehicles with minimum seating capacity and enhanced features, and approach towards shared transportation among consumers are major factors expected to drive the growth of global market. In addition, surging demand for electronic vehicles in developed counties and rapid technological advancements by major players in commercial electric vehicles with improved capacity this is another factor expected to support the growth of target market.

Major players are focused on business expansion activities through strategic acquisition and product launches this is expected to further augment the growth of target market.

In 2020, Hyundai Motor Company a multinational automotive manufacturer launched an electric minibus called Country Electric this bus is equipped with a high-power 128-kWh lithium-ion-polymer battery. The company launched it as an economical and eco-friendly alternative to diesel-powered buses. This is expected to help the company to enhance the customer base and increase the revenue share of the company.

In 2019, BYD Auto Co., Ltd. a Chinese automaker launched two electric vehicles (EVs) also support standard AC chargers named BYD T3 MPV and BYD T3 minivan. This product launch is expected to help the company to enhance the product portfolio and increase the customer base in India Market.

In 2018, Mercedes-Benz a German automotive launched its new minibus generation Sprinter a 8.5 metres long regular-service bus that has seats for up to 38 passengers. This is expected to help the company to enhance the business presence.

In 2018, Force Motors and automotive manufacturer launched new 33 and 41 seater Traveller Monobus. The monobus is loaded with several path breaking and novel features offered for the first time in the midi-bus segment. This supported the company to strengthen its position in the Indian market.

In 2017, Mahindra & Mahindra Limited is an Indian multinational vehicle manufacturing corporation launched 4 new variants of its stylish and spacious Passenger carrier, namely Supro Minivan, Supro Minivan VX, Supro Minivan CNG and Supro School Van. This product launch is expected to help the company to enhance the business presence.

Rising demand for minibuses from school and collages for pick-up and drop of students this is expected to support the growth of target market.

However, factors such as high cost of vehicles and developing automotive regulatory standards related to fuel this are expected to hamper the growth of global minibus market. In addition, highly competitive landscape is resulting in operation on low profit ration this is expected to challenge the growth of target market.

Advancements in motor power and approach towards introduction of innovative products are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, rising partnership between region and international players is expected to support the revenue transaction of target market.

Segment Analysis by Region

The market in Asia Pacific is expected to account for significant revenue share due to high commercial vehicle sale. In addition, increasing government spending on development of rural road infrastructure is resulting in demand for minibus this is expected to support the growth of target market.

Moreover, players focus on acquiring the regional players in order to strengthen the distribution channel this is expected to augment the growth of target market.

Competitive Landscape                                                                                 

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Market	Global Minibus Market
Analysis Period	2016 – 2027
Base Year	2019
Forecast Data	2020 – 2027
Market Stratification	Body Type, Seat Type, End Use and Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Minibus Market Segment Analysis, 2019

The global market is segmented into body type, seat type, and end use. The body type segment is bifurcated into body build and purpose build and the body build segment is expected to account for major revenue share in the target market. The seat type segment is further bifurcated into 9 – 15, 16 – 25, and 6 – 35.

The end use is segment into school bus, recreational purpose, and others and the school bus segment is expected to account for major revenue share in the global market.

The players profiled in the report are Unidad de Vehículos Industriales, SA, Integralia Movilidad S.L., Car-bus.net, CaetanoBus, Mussa & Graziano srl, Al Fahim Group, Komvek Karoser Limited Sirketi, Woodall Nicholson Limited, Carrocerias Ferqui Sl, and Brian Noone Limited.

Market Segmentation

Market By Body Type

Body Build

Purpose Build

Market By Seat Type

9 – 15

16 – 25

26 – 35

Market By End Use

School Bus

Recreational Purpose

Others

Market By Region

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa

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