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With a large population base looking forward to travelling comfortably and in a luxurious manner, the introduction to luxury coaches has indeed opened up tremendous growth opportunities for the global market over the years. According to the statistics released by the World Tourism Organization, international travels globally, recorded a growth of 41 per cent in 2019, while accounting for an overwhelming share of 1.5 billion.
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Luxury Coaches Market 2020-2026; Growth Forecast & Industry Share Report
KeyInsights Luxury Coaches Market: • With a large population base looking forward to travelling comfortably and in a luxurious manner, the introduction to luxury coaches has indeed opened up tremendous growth opportunities for the global market over the years. According to the statistics released by the World Tourism Organization, international travels globally, recorded a growth of 41 per cent in 2019, while accounting for an overwhelming share of 1.5 billion. The record breaking statistics are expected to bolster the need for luxury coaches in the years to follow, thus offering a positive growth prospective to the overall market, which is likely to exceed a valuation of 43 billion by the end of 2026.
Continued… • Citing an instance for the same, Proterra, in partnership with Belgian coach maker- Van Hool, announced in 2017, that it was working towards the development of electric motor or luxury passenger coaches for facilitating long distance travel routes. These coaches, as per company officials, would boast of a relatively high floor, allowing passengers to be seated comfortably while making room for their luggage. Such initiatives in the field are expected to drive the luxury coaches es industry progression at a larger scale in the near future. .
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Major Companies Luxury Coaches Market: • Alexander Dennis Limited • Anhui Ankai Automobile Co.Ltd • BeiqiFoton Motor Co. Ltd. • BYD Co. Ltd.
Regional Luxury Coaches Market: • Speaking of its worldwide prominence, luxury coaches have been witnessing prolific demand from the Asia Pacific region, courtesy- the ease of rise, convenience, and comparatively lower cost travel options offered by luxury buses. Also, not to mention, rising investments by government authorities to offer comfortable travel facilities to the residents have also been substantially fueling the regional market growth.
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