Key regions: Malaysia, Thailand, India, Saudi Arabia, Europe
The Buses market in Thailand is experiencing steady growth due to several factors. Customer preferences for buses in Thailand are influenced by factors such as cost-effectiveness, environmental concerns, and the need for efficient transportation. Additionally, local special circumstances and underlying macroeconomic factors contribute to the development of the market. Customer preferences in the Buses market in Thailand are driven by cost-effectiveness. Buses are an affordable mode of transportation compared to private vehicles or taxis. This makes them a popular choice for both locals and tourists, especially for long-distance travel or commuting within the city. Moreover, buses offer a cost-effective solution for transportation companies and government agencies, as they can accommodate a large number of passengers at once, reducing overall transportation costs. Another factor influencing customer preferences is the growing concern for the environment. With increasing awareness about climate change and the need for sustainable transportation options, there is a shift towards greener modes of transport. Buses are considered a more environmentally friendly option compared to individual cars, as they can transport a larger number of people, reducing the overall carbon footprint. Efficiency is also a key factor in customer preferences for buses in Thailand. Buses provide a convenient and efficient mode of transportation, especially in congested urban areas. They can navigate through traffic and reach multiple destinations, offering a reliable and convenient option for commuters. Additionally, the availability of air-conditioned buses with comfortable seating further enhances the appeal of buses as a mode of transportation. In terms of trends in the market, there is a growing demand for electric buses in Thailand. The government has been promoting the adoption of electric vehicles to reduce pollution and dependence on fossil fuels. This has led to an increase in the production and usage of electric buses in the country. Electric buses offer several advantages such as lower operating costs, reduced emissions, and quieter operation. These factors make them an attractive option for both transportation companies and customers. Local special circumstances in Thailand also contribute to the development of the Buses market. The country has a well-established public transportation system, with buses playing a crucial role in connecting various cities and towns. The government has been investing in improving the infrastructure and expanding the bus network, leading to increased demand for buses. Underlying macroeconomic factors such as population growth and urbanization also impact the Buses market in Thailand. As the population continues to grow and more people move to urban areas, the demand for public transportation, including buses, increases. The government recognizes the importance of efficient public transportation in supporting economic growth and is investing in the expansion and improvement of the bus network. In conclusion, the Buses market in Thailand is developing due to customer preferences for cost-effective, environmentally friendly, and efficient transportation options. The growing demand for electric buses, along with the government's focus on improving public transportation infrastructure, further contributes to the market's growth.
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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