Market Insights Mobility Commercial Vehicles

Buses - Austria

Austria

In Austria, the Buses market is anticipated to observe a significant growth in unit sales, reaching 0.95k vehicles by the year 2024.
Furthermore, an annual growth rate of -1.74% (CAGR 2024-2029) is expected, resulting in a projected market volume of 0.87k vehicles by 2029.
This demonstrates the potential for substantial expansion in the Buses market.
In terms of production, it is estimated that the production of Buses market will reach 15.00vehicles units by 2029, further illustrating the growth potential of this market.
From an international perspective, it is projected that the in the United States will dominate the sales in 2024, with a volume of 116.30k vehicles units.
The demand for electric buses in Austria is growing rapidly, driven by the country's commitment to sustainable transportation.

Market

Region

Region comparison

Currency

Analyst Opinion

The Buses market in Austria has been experiencing steady growth over the past few years, driven by several key factors. Customer preferences in the Austrian Buses market have shifted towards more environmentally friendly and fuel-efficient vehicles.

This trend is in line with global efforts to reduce carbon emissions and combat climate change. Customers are increasingly opting for buses that run on alternative fuels such as electricity or natural gas, as well as hybrid models that combine traditional combustion engines with electric power. Additionally, there is a growing demand for buses with advanced safety features and comfortable interiors, as customers prioritize the safety and comfort of their passengers.

One of the major trends in the Austrian Buses market is the increasing adoption of electric buses. This trend is driven by both government incentives and customer demand for cleaner transportation options. The Austrian government has implemented various measures to promote the use of electric buses, including subsidies and tax incentives for bus operators.

As a result, many bus operators are transitioning their fleets to electric buses, leading to a significant increase in the sales of electric buses in the country. Another trend in the market is the growing popularity of minibuses and shuttles. These smaller buses are well-suited for urban transportation and are increasingly being used for public transportation services, airport shuttles, and corporate transport.

The compact size and maneuverability of minibuses make them ideal for navigating through crowded city streets and providing last-mile connectivity. This trend is driven by the increasing urbanization in Austria, as well as the need for efficient and flexible transportation solutions in urban areas. In addition to customer preferences, there are also local special circumstances that are shaping the Buses market in Austria.

The country has a well-developed public transportation system, with a strong emphasis on sustainability and environmental protection. This has led to a high demand for buses that meet strict emissions standards and have low operating costs. Furthermore, Austria has a strong manufacturing base for buses, with several local manufacturers producing high-quality buses for both domestic and international markets.

This has contributed to the growth of the domestic buses market and has made Austria a hub for bus manufacturing in Europe. Underlying macroeconomic factors also play a role in the development of the Buses market in Austria. The country has a stable economy and a high standard of living, which has led to increased consumer spending on transportation.

Additionally, the government has invested in infrastructure development, including the expansion and improvement of public transportation networks. This has created opportunities for bus manufacturers and operators, as well as increased access to public transportation for the general population. Overall, the Buses market in Austria is experiencing growth due to customer preferences for environmentally friendly and fuel-efficient vehicles, the increasing adoption of electric buses, the popularity of minibuses and shuttles, local special circumstances such as a strong emphasis on sustainability and a well-developed manufacturing base, and underlying macroeconomic factors such as a stable economy and government investment in infrastructure.

These factors are expected to continue driving the growth of the Buses market in Austria in the coming years.

Methodology

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.