Buses - Albania | Statista Market Forecast

In Albania, the Buses market is anticipated to achieve unit sales of 17.00vehicles by 2024.
The market is projected to experience a compound annual growth rate (CAGR 2024-2030) of -4.37%, leading to a market volume of 13.00vehicles by 2030.
This growth in unit sales highlights the potential for expansion in the Buses market.
Notably, the China is expected to dominate the international sales, with a significant figure of 537.50k vehicles units in 2024.
Albania is experiencing a growing demand for electric buses in its commercial vehicles market as a result of its commitment to sustainable transportation.

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.

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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 Albania has been experiencing significant growth in recent years. Customer preferences for buses have shifted towards more eco-friendly and fuel-efficient options. Additionally, the government's push for sustainable transportation solutions has also contributed to the growth of the market.

Customer preferences: Customers in Albania have shown a growing preference for buses that are not only comfortable but also environmentally friendly. This is driven by increasing awareness about the impact of transportation on the environment. As a result, there has been a rise in the demand for buses that run on alternative fuels such as natural gas or electricity. Additionally, customers also value buses that are equipped with modern amenities such as air conditioning and Wi-Fi connectivity.

Trends in the market: One of the key trends in the Buses market in Albania is the increasing adoption of electric buses. The government has been actively promoting the use of electric vehicles, including buses, through various incentives and subsidies. This has encouraged bus operators to invest in electric buses, leading to an expansion of the electric bus fleet in the country. Furthermore, the introduction of electric buses has also attracted the attention of international bus manufacturers, who are looking to tap into the growing market. Another trend in the market is the integration of smart technologies in buses. Bus operators are increasingly equipping their vehicles with advanced systems such as GPS tracking, passenger information systems, and automated fare collection systems. These technologies not only enhance the overall passenger experience but also improve operational efficiency for bus operators.

Local special circumstances: Albania has a relatively underdeveloped public transportation system, with buses being the primary mode of transportation for many people. This has created a significant market opportunity for bus manufacturers and operators. The government has recognized the importance of improving the public transportation infrastructure and has been investing in the expansion and modernization of bus fleets across the country. This has further fueled the growth of the Buses market in Albania.

Underlying macroeconomic factors: The growth of the Buses market in Albania is also influenced by various macroeconomic factors. The country has been experiencing steady economic growth, which has resulted in an increase in disposable income levels. This has led to higher consumer spending on transportation services, including bus travel. Additionally, the government's focus on infrastructure development and urbanization has also contributed to the growth of the market, as it has created a higher demand for public transportation services. In conclusion, the Buses market in Albania is witnessing significant growth due to changing customer preferences, the adoption of eco-friendly technologies, and government initiatives to improve public transportation. The market is expected to continue growing in the coming years as the government invests in the modernization of the public transportation infrastructure and more customers prioritize sustainable and comfortable travel options.

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.