Global Midibus Market Size, Share, Growth, Demand, Analysis and Forecast Report 2019–2025
The global midibus market is forecast to grow at a CAGR of 5.0% between 2020 and 2025. Increasing use of electronic components and rapid demand of hybrid vehicles are the key trends observed towards the growth of global midibus market. Hybrid and electric vehicles are deemed as future of mobility across the globe. Moreover, with the innovation of electric vehicles it aims at permitting green driving in cities and could be used for longer distances as and when required. The objective of adopting electric vehicle is to fully utilize the remaining scope of reducing CO2 emissions and thereby conserving environment.
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On the basis of end user, the global midibus market is categorized into intracity, intercity and others. During the forecast period, the intercity classification is projected to witness the fastest midibus market growth, on the basis of end user. The growing use of midibus excessively being used for shorter distances specifically in the Asia-Pacific in countries such as China and India.
Around the globe, 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.
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Asia-Pacific is expected to witness highest CAGR during the forecast period. China produces the highest number of masks. This is due to the growing demand for midibuses from public and private schools in the region.
Competitive Insight
Some of the key 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.
Source: VynZ Research
