Key regions: Malaysia, Thailand, India, Saudi Arabia, Europe
The Buses market in South America has been experiencing significant growth in recent years. Customer preferences, local special circumstances, and underlying macroeconomic factors have all contributed to this trend. Customer preferences in South America have shifted towards more sustainable and environmentally friendly modes of transportation. As a result, there has been an increased demand for buses that run on alternative fuels such as natural gas or electricity. This shift in customer preferences is driven by a growing awareness of the environmental impact of traditional fossil fuel-powered vehicles and a desire to reduce emissions. Additionally, customers are also looking for buses that offer greater comfort and safety features, as well as improved connectivity options. Trends in the market indicate that there is a growing need for public transportation infrastructure in South America. Rapid urbanization and population growth in cities across the region have led to increased congestion and traffic problems. To address these issues, governments and municipalities are investing in the expansion and improvement of public transportation systems, including buses. This has created a favorable market environment for bus manufacturers and suppliers. Local special circumstances further contribute to the development of the Buses market in South America. The region has a vast territory with diverse geographical features, including mountains, jungles, and deserts. This presents unique challenges for transportation infrastructure, as different terrains require different types of buses. For example, buses that can navigate mountainous regions with steep slopes and narrow roads are in high demand. Similarly, buses that can withstand the hot and humid climate of the Amazon rainforest are also sought after. Underlying macroeconomic factors have also played a role in the growth of the Buses market in South America. Economic stability and government policies that promote investment in infrastructure have created a conducive business environment for bus manufacturers and suppliers. Additionally, favorable financing options and subsidies provided by governments have made buses more affordable for both public and private transportation operators. This has further stimulated demand for buses in the region. In conclusion, the Buses market in South America is developing due to customer preferences for sustainable and comfortable transportation options, the need for improved public transportation infrastructure, local special circumstances, and favorable macroeconomic factors. As the region continues to grow and urbanize, the demand for buses is expected to increase, presenting opportunities for bus manufacturers and suppliers to expand their presence in the South American 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.
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