Buses - Cambodia | Statista Market Forecast

In Cambodia, the Buses market is anticipated to witness a significant growth in unit sales, with projections indicating a reach of 302.00vehicles by 2024.
Furthermore, a compound annual rate of 2.63% (CAGR 2024-2030) is expected, leading to a projected market volume of 353.00vehicles by 2030.
These figures illustrate the potential for expansion within the Buses market.
Interestingly, the China is expected to dominate the international sales with a staggering 537.50k vehicles units sold in 2024.
Cambodia's role in this market is poised for substantial development.
Cambodia's bus market is experiencing a surge in demand driven by the country's growing tourism industry.

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 Cambodia is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Buses market in Cambodia are shifting towards more comfortable and technologically advanced vehicles.

Customers are increasingly seeking buses that offer spacious seating, air conditioning, and entertainment systems, as well as safety features such as seat belts and advanced braking systems. This is in line with global trends in the bus industry, where comfort and convenience are key factors driving customer demand. In terms of market trends, there is a growing demand for electric buses in Cambodia.

As the government and consumers become more environmentally conscious, there is a push for cleaner and greener transportation options. Electric buses offer a sustainable solution, as they produce zero emissions and have lower operating costs compared to traditional diesel buses. This trend is in line with the global shift towards electric vehicles, as countries worldwide are striving to reduce their carbon footprint and combat climate change.

Local special circumstances also play a role in the development of the Buses market in Cambodia. The country's infrastructure is improving, with the government investing in road and transportation networks. This has led to increased accessibility and connectivity, making buses a popular mode of transportation for both urban and rural areas.

Additionally, Cambodia's tourism industry is booming, attracting a large number of international visitors who rely on buses for transportation within the country. This has created a growing demand for buses to cater to the needs of tourists. Underlying macroeconomic factors also contribute to the growth of the Buses market in Cambodia.

The country's economy has been steadily growing, leading to an increase in disposable income and purchasing power. This enables more individuals and businesses to afford buses for personal or commercial use. Furthermore, the government's efforts to promote and support the manufacturing and assembly of buses within the country have also contributed to the market's development.

In conclusion, the Buses market in Cambodia is experiencing growth and development driven by customer preferences for comfort and advanced features, the trend towards electric buses, local special circumstances such as infrastructure improvements and a booming tourism industry, and underlying macroeconomic factors such as economic growth and government support. These factors are shaping the market and driving demand for buses in Cambodia.

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.