Luxury Coaches Market 2022 Outlook, Opportunity and Demand Analysis Report by 2026
The luxury coaches market is anticipated to witness a remunerative growth trend owing to the growing number of private travel service providers, rising demand for intercity travels, and technological advancements.
The luxury coaches market is anticipated to witness a remunerative growth trend owing to the growing number of private travel service providers, rising demand for intercity travels, and technological advancements. The coaches are also referred as large motor vehicle and is a type of bus which is used by a number of people for long trip or excursion. These coaches are designed particularly for longer journeys. Luxury coaches are further equipped with all kind of facilities that one would need while traveling, such as comfortable seats and even a toilet.
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Luxury bus rides have become immensely popular in many countries across the world due to the benefits and advantages they offer to the passengers. Citing an instance, on 1st august 2019, JCBL, a renowned luxury coach manufacturer in India, reportedly launched Destiny, the super-luxury travel coach in Mumbai. Features such as call bell with an indication, reclining birth, USB charging sockets, shoe rack for stretching legs, a luggage capacity of 9.5 m3, among others are some of the top features of new luxurious intercity coach.
The luxury coaches market is segmented in terms of deck type, fuel, and regional landscape.
With respect to deck type, the luxury coaches market is categorized into double deck and single deck. Among these, single deck segment will grow tremendously over the coming years. In 2019, the segment held a market share of nearly 85% owing to rising demand for intercity travels. These coaches can usually transport 20 to 58 people and are all well equipped with refrigerators, bar, hot drinks, Wi-Fi, air conditioning, toilet, DVDs, flat screens.
In terms of fuel, the overall luxury coaches market is classified into natural gas, electric/ hybrid electric, and diesel. Among these, the electric/hybrid electric segment is expected to witness a high growth owing to the rising demand for low vehicle emission and maintenance requirements. Citing an example, on 10th November 2019, Volvo Buses announced the launch of a novel electrically powered articulated bus having a carrying capacity of up to 150 passengers along with nearly 80% lower energy consumption in comparison to a corresponding diesel bus.
The new bus was unveiled at the Busworld show in Brussels held between 18 and 23 October. The novel Volvo 7900 Electric Articulated has a flexible construction and could also be optimized for suiting changing needs, thereby meeting the specific needs of different operators and cities.
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From a regional frame of reference, the Latin America luxury coaches market will witness substantial growth over the coming years owing to the growing number of private travel service providers across the region. In Brazil coaches or buses are generally luxurious coming with a comfortable and reclining seats, bathrooms, air conditioning, and onboard snacks