iBet uBet web content aggregator. Adding the entire web to your favor.

In 2024, the Buses market is projected to reach 1.06m vehicles units worldwide.
This forecast indicates the expected level of unit sales within this market.
Looking ahead, the market is anticipated to experience a compound annual growth rate (CAGR 2024-2030) of 2.56%.
This growth rate suggests a increase in sales, resulting in a projected market volume of 1.06m vehicles units by 2030.
Furthermore, the production of Buses market is expected to reach 1.12m vehicles units by 2030, providing insight into the potential growth of the market.
When examining the international perspective, it becomes evident that the China will dominate the market in 2024, with sales reaching 537.50k vehicles units.
This highlights the significance of the United States as a major player in the Buses market.
The demand for electric buses is rapidly increasing in countries like China and Norway, as they strive for cleaner and more sustainable transportation solutions.

Definition

Buses & Coaches is a specialized market within the broader Commercial Vehicles market, focusing exclusively on vehicles used for the transportation of passengers both in urban and intercity settings. This market includes a wide range of vehicles, each tailored to specific passenger transportation needs, including public transit, school transportation, tourism, and long-distance travel. The gross vehicle weight rating (GVWR) of MHBCs typically exceeds 3.5 tons.

Buses and coaches are specifically engineered for transporting large groups of people, typically along established routes or for long-distance travel. These vehicles come in various sizes and configurations, including city buses, intercity coaches, minibuses, and luxury touring coaches. This market considers both the production and sales of buses used for public transportation, operated by government bodies or private enterprises, as well as private coaches employed for purposes like tourism, corporate transportation, and other specialized services.

Additional Information

Key players in the commercial Buses & Coaches market include established manufacturers such as Volvo Buses, Daimler Buses, and Scania, along with regional and specialized companies that cater to specific markets. These manufacturers play a crucial role in shaping the future of public transportation by introducing innovative technologies and eco-friendly solutions in their commercial vehicles.

For further information on the displayed data, refer to the info button on the right-hand side of each box.

Tourist coaches
School buses
Public transit buses
Intercity or long-distance coaches

Watercraft, aircraft, and railway vehicles
Passenger cars
Off-road and specialized vehicles
Motorcycles and scooters
Light commercial vehicles (LCVs)
Commercial trucks
Consumer and recreational vehicles
Agricultural and construction equipment

The Buses market in Worldwide is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences play a crucial role in shaping the Buses market in Worldwide.

As urbanization continues to accelerate, there is a growing demand for efficient and sustainable transportation solutions. Customers are increasingly looking for buses that are fuel-efficient, environmentally friendly, and equipped with advanced technologies such as electric or hybrid powertrains. Additionally, comfort, safety features, and connectivity options are also important considerations for customers when choosing buses.

Trends in the market further contribute to the development of the Buses industry in Worldwide. One notable trend is the increasing adoption of electric buses. Governments and transportation authorities are implementing strict emission regulations and promoting sustainable transportation solutions, leading to a rise in the demand for electric buses.

This trend is further supported by advancements in battery technology, making electric buses more viable and cost-effective. Another trend is the integration of smart technologies in buses, such as GPS tracking, real-time passenger information systems, and automated fare collection systems, enhancing the overall efficiency and passenger experience. Local special circumstances also play a role in shaping the Buses market in Worldwide.

Different regions and countries have unique transportation challenges and requirements. For example, in densely populated cities, there is a need for buses with high capacity and efficient route planning to cater to the large number of commuters. In rural areas, on the other hand, there may be a demand for smaller buses or minibusses to serve remote communities with limited infrastructure.

Furthermore, government policies and incentives, such as subsidies for public transportation or infrastructure development, can also influence the demand for buses in specific regions. Underlying macroeconomic factors also contribute to the growth and development of the Buses market in Worldwide. Economic growth, rising disposable incomes, and increasing urbanization are key factors driving the demand for public transportation.

As more people move to cities and rely on public transportation, the demand for buses is expected to continue growing. Additionally, government investments in infrastructure development, such as the construction of new roads or the expansion of public transportation networks, also create opportunities for the Buses market. In conclusion, the Buses market in Worldwide is experiencing growth and development due to customer preferences for efficient and sustainable transportation solutions, market trends such as the adoption of electric buses and smart technologies, local special circumstances that influence demand in different regions, and underlying macroeconomic factors such as economic growth and government investments in infrastructure.

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of buses.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

The public transportation network in the United Kingdom comprises a series of heavy rail, light rail, and bus services that connects millions every day. For instance, National Rail reported more than 1.3 billion passenger journeys per year in the fiscal year 2022/23. On the financial side, public sector spending on transport amounted to roughly 26 billion British pounds in 2022/23 for railways, around 60 percent of total public expenditure on transport. By comparison, the overall share of transport public expenditure on local public transit was 10 percent that same year, at around 4.3 billion pounds. In 2022, the average weekly household spent on transport services was 12.8 British pounds, with people aged 30 to 49 year-old spending the most.