Luxury coaches are chartered buses that possess features or amenities not provided in ordinary or conventional buses. Furthermore, these buses are used for intercity and interstate travel. The market for luxury coaches is well-developed, and demand for luxury coaches is consistently increasing as road infrastructure growth and the road transport industry across the globe.
MARKET SCOPE
The "Global Luxury Coaches Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the luxury coaches with detailed market segmentation by deck type, propulsion, seating capacity, and geography. The report provides key statistics on the market status of the leading luxury coach players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on deck type, the global luxury coaches is segmented into single deck, and double deck.
- On the basis of propulsion, the market is segmented into diesel, natural gas, electric, and hybrid.
- Based on seating capacity, the market is bifurcated into below 40 seats, 40-55 seats, and above 55 seats.
MARKET DYNAMICS
Drivers
- Growing demand for technologically advanced luxury coaches across the globe
- Implementation of stringent emission regulations in North America
- Positive outlook of tourism industry in Europe
- Increasing demand for comfortable domestic travel in APAC
- Rising number of tour operators in Latin America and MEA
Restraints
- High initial cost of luxury coaches
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The luxury coaches by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the luxury coaches in these regions.
IMPACT OF COVID-19 ON LUXURY COACHES
The rapid spread of the COVID-19 pandemic has adversely impacted the market size of luxury coaches in 2020. The slow growth rate can be attributed to the increasing financial insecurities among large government and industrial buyers. The sharp decline of the travel and tourism industry due to government-imposed movement restrictions and lockdowns has impacted the revenues of private transportation companies. Bus operators are postponing the purchase decisions of new vehicles. The market forecast shows a gradual growth in demand with the revival of tourism.
MARKET PLAYERS
The report covers key developments in the luxury coaches as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from luxury coaches are anticipated to lucrative growth opportunities in the future with the rising demand for luxury coaches in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the luxury coaches. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AB Volvo
- Alexander Dennis Limited.
- BYD Motors Inc.
- CNH Industrial N.V.
- Daimler AG
- Dongfeng Motor Corporation
- Irizar Group
- King Long United Automotive Industry Co., Ltd
- Marcopolo S.A.
- Volkswagen Group
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.