Minibus Market Insights Based on Industry Size, Shares and Upcoming Trends by 2029

ROCKVILLE, Md. - Oct. 14, 2019 - PRLog -- Global value for the minibus market reached ~ US$ 8.3 Bn in 2018, as disclosed by the new research study by Fact.MR. According to the report, the minibus market is predicted to grow by CAGR of ~3.7% in the forecast period, primarily influenced by prominent players investing in manufacturing operations in the global minibus market landscape.

According to the research, an increasing center of attention on new developments and the demand for various types of commuter vehicles such as shared taxis are likely to fuel the growth of the minibus market by the end of 2029.The global automotive industry is witnessing rapid growth and consumer's demand for vehicle electrification is an emerging trend gaining widespread momentum in urban, traffic planning, and power system studies. Government authorities, particularly in developed countries, are mandating the shift from internal combustion to fully electric vehicles. Diffusion of electric vehicles significantly affects the power system's operations, however it paves the way for a wide range of opportunities for future system developments, such as curtailing the fossil fuel dependency and emissions of environment pollutants.

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According to the Fact.MR, 26-35 passenger capacity minibuses are expected to account for the largest revenue share in the global minibus market, with the global value poised to reach ~ US $ 3.6 Bn by the end of 2019. Among various applications, minibuses for recreational purposes is projected to remain the most sought-after among passengers.
Fact. MR's business perception is also focusing on innovative insights into the competitive landscape of the minibus market along with highlights of manufacturers' differential blueprint. Key players in the minibus market will continue to draw upon R&D for offering new products in their existing portfolio. For instance, in the year 2019, Toyota Motor Corporation, a Japanese multinational automotive manufacturer, launched a new minibus Toyota Coaster 2019 with the advanced design as well as having a 2.7 L petrol engine and 4.2 L diesel engine.  Both are mated to a five-speed manual transmission and power steering, offering agility and excellent fuel economy with highest safety standards having front driver & passenger airbag and ABS.

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