Selbyville, Delaware, Sept. 08, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on luxury coaches market which estimates the global market valuation for luxury coaches will cross US$ 43 billion by 2026. The increasing adoption of autonomous and electric luxury coaches is expected to boost the industry growth. Moreover, stringent regulations related to vehicular emissions established by authorities, such as U.S. EPA and EU, are driving electric coaches demand.
The high and rising impacts of the COVID-19 health crisis have led to stagnation in demand for luxury coaches in the market. The flat demand curve can be attributed to the severe impact of the pandemic on the tourism industry. Government-imposed restrictions on movement coupled with health concerns are encouraging people to stay at home, adversely impacting the revenues of bus operators.
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Single deck luxury coaches are experiencing a high growth rate in the market due to low cost of purchase compared to double deck coaches. These buses are characterized by comparatively high fuel efficiency due to their low body weight and passenger carrying capacity. The growing adoption of single deck luxury coaches with seating capacity of below 40 seats for domestic travel is contributing to their demand in the market.
The luxury coaches market in Asia Pacific is witnessing a high growth owing to the convenience, comfortable ride, and comparatively low cost travel options provided by luxury buses. Increasing investments by government authorities to provide comfortable travel facilities to residents are also augmenting the regional market share. For instance, in December 2018, the government of India announced plans to add 200 new luxury buses to the transportation fleets of five states.
Leading market players are introducing innovative models of luxury coaches operating on alternative fuels such as natural gas. For instance, in September 2018, Scania AB launched its new natural gas operated luxury coach for the European market. Companies are also establishing collaborative partnerships with other OEMs to leverage mutual expertise and gain a competitive edge in the market.
Browse key industry insights spread across 220 pages with 387 market data tables & 23 figures & charts from the report, “Luxury Coaches Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/luxury-coaches-market
Some major findings in the luxury coaches market report include:
- Growing consumer disposable income and increasing discretionary spending capabilities are encouraging consumers to shift toward luxury coaches for comfortable long-distance travels. Features, such as private screens, extra leg room, and on-board toilets, are increasing the demand for these coaches.
- Technological advancements in the field of driver assistance and vehicle automation systems have led to the introduction of fully automated models of luxury coaches. Market players are investing heavily in R&D to make these models available for sale in the commercial markets.
- The luxury coaches market in the MEA is anticipated to witness a gradual growth due to the positive outlook of the tourism industry in the region. Companies operating in these markets offer high levels of customization in their models to cater to the specific requirements of high-income groups.
- Market players are focusing on expansion of their business operations in unserved markets to increase their market shares. Manufacturers of luxury coaches are also collaborating with other industry players to introduce innovative models in the market.
Key players operating in the luxury coaches market share include Daimler AG, BYD Group, Scania AB, JCBL Ltd., Volvo Group, DFAC, Golden Dragon, Marcopolo SA, and Yutong.
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/luxury-coaches-market
Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Luxury coaches industry 360° synopsis, 2016 – 2026
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Deck trends
2.1.4. Fuel trends
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Impact of COVID-19 on luxury coaches industry landscape
3.2.1. Global outlook
3.2.2. Regional impact
3.2.2.1. North America
3.2.2.2. Europe
3.2.2.3. Asia Pacific
3.2.2.4. Latin America
3.2.2.5. MEA
3.2.3. Industry value chain
3.2.3.1. Research & development
3.2.3.2. Manufacturing
3.2.3.3. Marketing
3.2.3.4. Supply
3.2.4. Competitive landscape
3.2.4.1. Strategy
3.2.4.2. Distribution network
3.2.4.3. Business growth
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Technology providers
3.3.3. Manufacturers
3.3.4. End use landscape
3.3.5. Distribution channel analysis
3.3.6. Vendor matrix
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.5.1. North America
3.5.2. Europe
3.5.3. Asia Pacific
3.5.4. Latin America
3.5.5. MEA
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Growing demand for technologically advanced luxury coaches across the globe
3.6.1.2. Implementation of stringent emission regulations in North America
3.6.1.3. Positive outlook of tourism industry in Europe
3.6.1.4. Increasing demand for comfortable domestic travel in APAC
3.6.1.5. Rising number of tour operators in Latin America and MEA
3.6.2. Industry pitfalls & challenges
3.6.2.1. High initial cost of luxury coaches
3.6.2.2. High operation & maintenance costs
3.7. Growth potential analysis
3.8. Porter's analysis
3.8.1. Supplier power
3.8.2. Buyer power
3.8.3. Threat of new entrants
3.8.4. Threat of substitutes
3.8.5. Internal rivalry
3.9. PESTEL analysis
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.