Key regions: Malaysia, Thailand, India, Saudi Arabia, Europe
The Buses market in Central & Western Europe is experiencing significant growth and development due to various factors. Customer preferences for more sustainable and eco-friendly transportation options, coupled with increasing urbanization and government initiatives, are driving the demand for buses in the region.
Customer preferences: Customers in Central & Western Europe are increasingly favoring buses as a mode of transportation due to their cost-effectiveness, reliability, and environmental benefits. With growing concerns about air pollution and the need to reduce carbon emissions, buses are seen as a greener alternative to private cars. Additionally, buses provide a convenient and efficient way to commute in densely populated urban areas, where traffic congestion is a major issue.
Trends in the market: One of the major trends in the Buses market in Central & Western Europe is the shift towards electric buses. Governments and transportation authorities in the region are actively promoting the adoption of electric buses to reduce greenhouse gas emissions and improve air quality. This trend is driven by advancements in battery technology, which have made electric buses more viable and cost-effective. As a result, many cities in the region are investing in electric bus fleets and implementing charging infrastructure. Another trend in the market is the increasing demand for low-floor buses. These buses have a lower entry height, making them more accessible for passengers with disabilities, the elderly, and parents with strollers. The demand for low-floor buses is driven by the region's aging population and the need for inclusive and accessible public transportation.
Local special circumstances: Central & Western Europe is home to several major cities with high population densities and extensive public transportation networks. This creates a favorable environment for the growth of the Buses market. Additionally, the region has well-developed infrastructure and a strong regulatory framework, which encourages investment in public transportation.
Underlying macroeconomic factors: The growth of the Buses market in Central & Western Europe is also influenced by underlying macroeconomic factors. The region has experienced steady economic growth, leading to increased disposable income and higher consumer spending. This has a positive impact on the demand for public transportation, including buses. Furthermore, government initiatives and policies aimed at promoting sustainable transportation play a crucial role in driving the market. Governments in the region are implementing measures such as subsidies, tax incentives, and stricter emission standards to encourage the adoption of buses and other eco-friendly modes of transportation. In conclusion, the Buses market in Central & Western Europe is witnessing growth and development due to customer preferences for sustainable transportation, increasing urbanization, and government initiatives. The adoption of electric buses and the demand for low-floor buses are key trends in the market. The region's well-developed infrastructure, strong regulatory framework, and favorable macroeconomic conditions further contribute to the growth of the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of bus tickets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. 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, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
