Market Insights Mobility Commercial Vehicles

Buses - Croatia

Croatia

In Croatia, the Buses market is anticipated to witness a significant increase in unit sales, projected to reach 215.00vehicles by the year 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 1.27%, leading to a projected market volume of 229.00vehicles by 2029.
Furthermore, the production of Buses market in Croatia is also estimated to experience substantial growth, reaching 0.46k vehicles by 2029, which highlights the potential for further expansion in the Buses market.
When considering the international market, it is noteworthy that the majority of sales, amounting to 116.30k vehicles, are expected to occur the in the United States in 2024.
Croatia is experiencing a growing demand for electric buses in the commercial vehicle market.

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Analyst Opinion

The Buses market in Croatia has been experiencing significant growth in recent years. Customer preferences have shifted towards more environmentally friendly and fuel-efficient buses, leading to an increase in the demand for electric and hybrid buses.

Additionally, there has been a growing trend of customization, with customers seeking buses that cater to their specific needs and requirements. Customer preferences in the Buses market in Croatia have been influenced by global trends towards sustainability and eco-friendliness. As awareness about the environmental impact of traditional fuel-powered vehicles grows, customers are increasingly opting for electric and hybrid buses.

These buses offer lower emissions and reduced fuel consumption, making them a more sustainable option. Furthermore, the government has been promoting the use of electric and hybrid vehicles through various incentives and subsidies, further driving the demand for these buses. Another trend in the Buses market in Croatia is the growing demand for customized buses.

Customers are looking for buses that are tailored to their specific needs and requirements. This includes features such as comfortable seating, advanced safety systems, and entertainment options. Bus manufacturers are responding to this demand by offering a wide range of customization options, allowing customers to design buses that meet their exact specifications.

This trend is driven by the desire for a unique and personalized experience, as well as the need for buses that can cater to specific industries such as tourism or transportation for people with disabilities. In addition to customer preferences, there are also local special circumstances that are driving the development of the Buses market in Croatia. The country has a well-developed tourism industry, with millions of tourists visiting each year.

This has created a demand for buses that can accommodate large groups of people and provide comfortable and efficient transportation. As a result, bus manufacturers are focusing on producing buses that are specifically designed for the tourism sector, with features such as spacious seating, air conditioning, and multimedia systems. Underlying macroeconomic factors are also contributing to the growth of the Buses market in Croatia.

The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has resulted in higher demand for transportation services, including buses. Additionally, the government has been investing in infrastructure development, including the improvement of roads and public transportation systems.

These investments have created opportunities for bus manufacturers to expand their operations and meet the growing demand. In conclusion, the Buses market in Croatia is experiencing growth due to customer preferences for environmentally friendly and customized buses, as well as local special circumstances such as the tourism industry. The underlying macroeconomic factors, including economic growth and infrastructure development, are also contributing to the expansion of the market.

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.