The global midibus market is forecast to grow at a CAGR of 5.0% between 2020 and 2025. The growth of this market is attributed towards increasing population, rapid urbanization along with increasing expenditure attributed towards upgradation of public transport vehicles. With increasing trend of sharing economy people have started using more public transport that provides that significant cost efficiencies and convenience of travelling. Moreover, the 10 meter size of buses are gaining significant popularity as not been huge or too small and this effectively serves needs of an individual to travel conveniently whether intercity or intracity.
A midibus is a category of single-decker minibus that are generally larger than a traditional minibus on the other hand smaller than a full-size single decker that could be around 8 metres to 11 metres long. The midibuses are most commonly being utilized in the U.K. where people find it cost effective method and have significant number of seats in comparison to that of full size single-decker buses. Midibuses are designed in manner so that they are light weight and helps in saving diesel fuels thereby making them not as resilient in comparison to that of full size buses.
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Increasing emphasis by government authorities towards upgradation of transport infrastructure, along with extensive need for conserving environment and reducing pollution are the key factors driving the growth of global midibus market. The developed nations are emphasizing upon using low carbon economy that will not hurt the environment significantly. Moreover, the enhancement of the transportation systems in the EU emphasize upon making transports in the region cleaner, sustainable and energy-efficient. Additionally midibuses comprises of long first gear that eliminates the need for using second and also provides a comfortable ride to the passengers. These buses comprises of a topology dependent gear that helps the driver in matching the transmission power in various driving conditions.
Geographically, Europe was the largest midibus market in 2019. The initiative undertaken in Europe related to clean bus deployment initiative was launched in 2017 by bus manufacturers, consigners, stakeholders and public transport organizations from various cities across Europe that has massively accentuated the growth of midibus market in this region.
Moreover, Asia-Pacific is anticipated to witness highest CAGR during the forecast period owing to increasing demand for midibuses observed from public and private schools in this region. The increasing population in the region is leading to increasing demand for schools in emerging economies such as Thailand, China, Indonesia and India that is is increasing demand for midibus in the region. Furthermore, it has been observed that few routes in Hong Kong are served exclusively by midibus due to twisting roads and are thereby ensuring increased flexible and running of traffic.
Key players operating in the global midibus market are emphasizing their efforts upon strategic acquisitions in order to strengthen capabilities of research & development that support them in providing innovative solutions to the users and thus gain competitive advantage.
Some of the major players operating in the global midibus market are Yangzhou Yaxing Motor Coach Co., Toyota Motor Corporation, Daimler AG, China South Industries Group Corporation, Ashok Leyland Ltd., Isuzu Motors Ltd., BYD Auto Co. Ltd., Hino Motors Ltd., Groupe Renault, and AB Volvo.
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