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Luxury Buses Market Trends

  • Report ID: GMI9320
  • Published Date: May 2024
  • Report Format: PDF

Luxury Buses Market Trends

The luxury bus industry is witnessing significant technological advancements. New technology, such as active suspension systems and ergonomic chair design, can considerably increase passenger comfort on lengthy travels. Automatic temperature control and individual lighting settings enable passengers to customize their surroundings for optimal comfort. The integration of high-speed Wi-Fi, personal entertainment systems with touchscreens, a diverse choice of content possibilities, and Virtual Reality (VR) experiences are considerably improving passenger satisfaction during the journey. This makes long travels seem shorter and more enjoyable.
 

Along with this, the employment of electric and hybrid technologies in luxury buses can minimize operating expenses by reducing fuel consumption and pollutants. This addresses the surging demand for sustainable transportation solutions while assisting luxury bus operators in lowering their environmental impacts.
 

In July 2023, Bharat Benz collaborated with Reliance Industries, to unveil India's first intercity luxury concept coach powered by hydrogen fuel cell technology. The fuel cell system is designed and developed by Reliance Industries, using state-of-the-art components from international partners with significant localization. The coach has a gross system power of 127 kW and a net power of 105 kW, equivalent to 300 HP, aligning it with the performance of current diesel buses used for intercity applications. The intercity bus can travel approximately 400 km on a single hydrogen fill, enabling long-distance travel between cities using clean hydrogen fuel.
 

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of luxury buses reached USD 58.6 billion in 2023 and will grow at an 8% CAGR between 2024 and 2032, led by increasing disposable incomes and changing consumer preferences towards premium travel experiences.

The tour and travel segment recorded 46% share in 2023, due to the increasing demand for elite travel experiences among tourists seeking comfort, convenience, and luxury during their journeys.

Asia Pacific recorded 46% revenue share of the market in 2023, owing to the robust economic growth, burgeoning middle-class population, and rising demand for high-end travel experiences.

Some of the leading luxury buses market players include Alexander Dennis Limited, Daimler AG, Irizar Group, MAN Truck & Bus, Marcopolo S.A., Scania AB, Temsa Global, Van Hool NV, Volvo Group, and Yutong Group among others.

Luxury Buses Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 350
  • Countries covered: 25
  • Pages: 300
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