Buses - Fiji | Statista Market Forecast

The projected unit sales in the Buses market for Fiji are expected to reach 281.00vehicles by 2024.
The market is anticipated to exhibit a compound annual rate (CAGR 2024-2030) of 2.56%, resulting in a projected market volume of 327.00vehicles by 2030.
This growth potential highlights the significance of the Buses market in Fiji.
Looking at the international perspective, it is evident that the majority of the sales, amounting to 537.50k vehicles, will be the China in 2024.
This indicates the strong demand for Buses market in the American market.
Fiji's commercial vehicle market is witnessing a growing demand for eco-friendly buses, driven by the government's emphasis on sustainable transportation solutions.

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 Fiji has been experiencing steady growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Fiji have played a significant role in shaping the Buses market.

With an increasing focus on environmental sustainability and fuel efficiency, customers in Fiji are increasingly opting for buses that are powered by alternative fuels or have hybrid engines. This shift in preference towards eco-friendly buses has led to an increase in the demand for electric and hybrid buses in the market. Trends in the Buses market in Fiji are also contributing to its development.

One of the key trends is the integration of advanced technology in buses. This includes features such as GPS tracking systems, onboard Wi-Fi, and electronic ticketing systems, which enhance the overall passenger experience and improve operational efficiency for bus operators. These technological advancements are attracting customers and driving the demand for buses with modern amenities.

Local special circumstances in Fiji are also influencing the development of the Buses market. The geography and infrastructure of the country, with its many islands and rugged terrain, make buses a crucial mode of transportation for both urban and rural areas. The government of Fiji has recognized the importance of a reliable and efficient bus network and has been investing in the improvement of public transportation infrastructure.

This includes the construction of new bus terminals and the expansion of existing routes, which has created opportunities for bus manufacturers and operators. Underlying macroeconomic factors are also contributing to the growth of the Buses market in Fiji. The country has experienced a stable economic growth in recent years, which has led to an increase in disposable income and improved living standards for the population.

As a result, there is a growing demand for private transportation options, including buses, for both personal and commercial use. This has created a favorable market environment for bus manufacturers and suppliers. In conclusion, the Buses market in Fiji is developing due to customer preferences for eco-friendly buses, the integration of advanced technology, local special circumstances that necessitate a reliable bus network, and the underlying macroeconomic factors of stable economic growth and increased disposable income.

These factors are driving the demand for buses in Fiji and creating opportunities for market growth and development.

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.