Buses - Brunei Darussalam | Statista Market Forecast

The Buses market in Brunei Darussalam is anticipated to witness a significant increase in unit sales, with projections indicating a reach of 276.00vehicles by 2024.
This growth is expected to continue at a pace, with an estimated compound annual growth rate (CAGR) of 2.60% between 2024 and 2030.
Consequently, the market volume is forecasted to reach 322.00vehicles by 2030, showcasing the potential for expansion within the Buses market.
Furthermore, it is noteworthy to mention that the production of Buses market in Brunei Darussalam is also expected to experience growth, with estimates indicating a production level of 0.00 by 2030.
This highlights the potential for further development and expansion within the Buses market in the country.
On an international scale, the China is projected to dominate the Buses market, with sales reaching a substantial figure of 537.50k vehicles in 2024.
This signifies the significant demand for Buses market withthe China market and the opportunities it presents for industry players.
Brunei Darussalam's commercial vehicle market for buses is witnessing a surge in demand due to the government's focus on improving public transportation infrastructure.

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 Brunei Darussalam is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Brunei Darussalam are shifting towards more sustainable and environmentally-friendly modes of transportation.

As awareness about climate change and pollution increases, customers are seeking alternatives to traditional petrol and diesel vehicles. Buses, especially electric and hybrid models, are seen as a greener option for public transportation. Additionally, customers are also looking for buses with advanced safety features, comfortable seating, and modern amenities to enhance their travel experience.

One of the emerging trends in the Buses market in Brunei Darussalam is the adoption of electric buses. The government of Brunei Darussalam has been actively promoting the use of electric vehicles to reduce carbon emissions and dependency on fossil fuels. This has led to an increased demand for electric buses in the country.

Electric buses offer several advantages such as lower operating costs, reduced noise pollution, and zero tailpipe emissions. As a result, bus operators and fleet owners are gradually replacing their conventional buses with electric models. Another trend in the Buses market is the integration of smart technologies.

Brunei Darussalam is witnessing the implementation of smart transportation systems, which include features like real-time tracking, passenger information systems, and cashless payment options. These technologies improve the efficiency and convenience of bus services, making them more attractive to customers. Bus operators are also using data analytics to optimize routes, reduce congestion, and enhance overall operational efficiency.

Local special circumstances in Brunei Darussalam are also contributing to the development of the Buses market. The country has a small population and a well-connected road network, making it feasible to operate bus services efficiently. The government has been investing in the development of public transportation infrastructure, including bus terminals, dedicated bus lanes, and shelters.

These initiatives aim to improve the accessibility and reliability of bus services, encouraging more people to choose buses as their preferred mode of transportation. Underlying macroeconomic factors, such as economic growth and urbanization, are driving the demand for buses in Brunei Darussalam. As the country's economy expands, there is a need for efficient and reliable public transportation to support the growing population and urban areas.

Buses play a crucial role in providing affordable and accessible transportation options for both residents and tourists. The government's focus on sustainable development and reducing traffic congestion further strengthens the demand for buses in the market. In conclusion, the Buses market in Brunei Darussalam is witnessing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

The shift towards sustainable transportation, adoption of electric buses, integration of smart technologies, government initiatives, and economic growth are all contributing to the development of the market. As these factors continue to drive the demand for buses, the market is expected to expand further in the coming years.

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.