What is the current market size and future outlook for the minibus market?
The minibus market size has grown strongly in recent years. It will grow from $9.79 $ billion in 2024 to $10.29 $ billion in 2025 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to the increasing desire for travelers, increasing demand for minibuses, increasing Transport & Logisticsation infrastructure, increasing popularity of tourism, and increasing demand for flexible Transport & Logisticsation.
The minibus market size is expected to see steady growth in the next few years. It will grow to $12.44 $ billion in 2029 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to the expanding Transport & Logisticsation business, growth in tourism and recreational vehicles, urbanization in the minibus industry, government regulations and safety standards, and corporate and institutional fleet upgrades. Major trends in the forecast period include customization and versatility, electrification and sustainability, electric and hybrid powertrains, connectivity and smart features, and integration with urban mobility solutions.
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How has the minibus market evolved, and what factors have shaped its growth?
The growing demand for tourism is expected to propel the growth of the minibus market going forward. Tourism refers to the activities and services associated with traveling away from one’s usual place of residence for leisure, business, or other purposes. The rise in tourism is due to increasing disposable incomes, greater accessibility through improved Transport & Logisticsation, increased cultural curiosity, social media influence, event tourism, business and educational travel, and more leisure time. Minibuses are used in tourism to provide efficient and comfortable Transport & Logisticsation for small groups, offering flexibility and convenience for sightseeing and guided tours. For instance, in May 2024, according to the Office for National Statistics, a UK-based national statistical institute, UK tourists took 86.2 million trips abroad in 2023, a rise from 71.0 million trips in 2022. Therefore, the growing demand for tourism is driving the growth of the minibus market.
What are the major segments of the minibus market?
The minibusmarket covered in this report is segmented –
1) By Types: Basic Minibuses, Luxury Minibuses, Eco-friendly Minibuses
2) By Fuel Types: Diesel, Gasoline or Petrol, Electric, Hybrid
3) By Seating Capacity: 9 To 15, 16 To 25, 26 To 35
4) By Applications: Tourism, Event Management, Shuttle Services, Field Trips, Other Applications
5) By End Users: Business Entities, Healthcare Facilities, Non-profit Organizations, Construction Companies, Educational Institutions, Other End Users
Subsegments:
1) By Basic Minibuses: Standard Minibuses, Economy Minibuses, Compact Minibuses
2) By Luxury Minibuses: Executive Minibuses, Premium Minibuses, VIP Minibuses, Customizable Luxury Minibuses
3) By Eco-friendly Minibuses: Electric Minibuses, Hybrid Minibuses, Compressed Natural Gas (CNG) Minibuses, Solar-powered Minibuses
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Which companies dominate the minibus market?
Major companies operating in the minibus market are Volkswagen Group, TOYOTA MOTOR CORPORATION, Stellantis N.V., Ford Motor Company, General Motors Company, Hyundai Motor Company, Nissan Motor Co Ltd., BYD Motors Inc., AB Volvo, Tata Motors Limited, Dongfeng Motor Corporation, Iveco Group NV., MAN Truck & Bus SE, Ashok Leyland Limited, Marcopolo SA, Anhui Ankai Automobile Co Ltd., Force Motors Limited, Thomas Built Buses Inc, Woodall Nicholson Limited (Mellor Coachcraft), Karsan Otomotiv Sanayii ve Ticaret A.S., Rosero – P S.R.O., Kingstar Bus Co Ltd., Integralia Movilidad S.L.
How will evolving trends contribute to the growth of the minibus market?
Major companies operating in the minibus market are focusing on developing advanced solutions, such as autonomous minibuses, to enhance passenger convenience and safety. Autonomous minibuses refer to self-driving minibuses equipped with advanced technology to navigate and operate without human intervention. For instance, in May 2024, Renault Group, a France-based automobile manufacturing company, launched an autonomous minibus for public Transport & Logisticsation, featuring Level 4 autonomy and enabling self-driving capabilities within defined areas. This initiative supports the increasing demand for low-carbon mobility solutions as European cities move towards low-emission zones. Designed to operate 24/7 without onboard operators, the minibus only requires simple remote supervision, potentially reducing automation costs and offering a cost-effective, zero-emission alternative to traditional public Transport & Logistics options.
What are the key regional dynamics of the minibus market, and which region leads in market share?
North America was the largest region in the minibus market in 2024. The regions covered in the minibus market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Minibus Market Report 2025 Offer?
The minibus market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A minibus is a small passenger vehicle designed to Transport & Logistics more people than a typical car but fewer than a full-sized bus, typically accommodating between 9 and 30 passengers. Minibuses are commonly used for public Transport & Logisticsation, shuttle services, and group travel due to their compact size and flexibility.
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