Buses - Finland | Statista Market Forecast

In 2024, the projected unit sales in the Buses market in Finland are expected to reach 229.00vehicles.
Furthermore, it is anticipated that there will be a compound annual rate (CAGR 2024-2030) of -2.64%, resulting in a projected market volume of 195.00vehicles by 2030.
This indicates the potential for growth in the Buses market.
Looking at the production side, it is estimated that the production of Buses market in Finland will reach 2.69k vehicles in 2030.
From an international perspective, it is noteworthy that the China is expected to have the highest sales volume in the Buses market in 2024, with a figure of 537.50k vehicles.
In Finland, the trend in the commercial vehicle market for buses is a shift towards electric and hybrid models.

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 Finland has been experiencing steady growth in recent years, driven by customer preferences for environmentally friendly and energy-efficient vehicles. Customer preferences in the Buses market in Finland have shifted towards more sustainable options, with a growing demand for electric and hybrid buses.

This can be attributed to increased awareness of climate change and the need to reduce carbon emissions. Customers are also looking for buses that offer greater fuel efficiency and lower operating costs. One of the key trends in the Buses market in Finland is the adoption of electric buses.

The government has implemented policies and incentives to promote the use of electric vehicles, including buses, which has led to an increase in the number of electric buses on the roads. The availability of charging infrastructure and advancements in battery technology have also contributed to the growing popularity of electric buses. Another trend in the market is the integration of smart features in buses.

Customers are increasingly looking for buses that offer advanced technology and connectivity options. This includes features such as Wi-Fi, USB charging ports, and real-time tracking systems. These smart features not only enhance the passenger experience but also improve operational efficiency for bus operators.

Local special circumstances in Finland have also influenced the development of the Buses market. The country has a well-developed public transportation system, with buses playing a crucial role in connecting different regions. The government has been investing in the modernization of the bus fleet to ensure a reliable and efficient transportation network.

Furthermore, Finland has a strong focus on sustainability and environmental protection. The government has set ambitious targets to reduce carbon emissions and promote the use of renewable energy sources. This has created a favorable environment for the adoption of electric and hybrid buses, as well as other clean technologies.

Underlying macroeconomic factors have also contributed to the growth of the Buses market in Finland. The country has a stable economy with a high standard of living, which has increased the demand for public transportation. Additionally, the government has implemented favorable policies and incentives to support the growth of the Buses market, including subsidies for the purchase of electric buses and tax benefits for bus operators.

In conclusion, the Buses market in Finland is developing in response to customer preferences for sustainable and technologically advanced vehicles. The adoption of electric buses and the integration of smart features are key trends in the market. Local special circumstances, such as a well-developed public transportation system and a focus on sustainability, have also contributed to the growth of the market.

Underlying macroeconomic factors, including a stable economy and supportive government policies, have further fueled the development of the Buses market in Finland.

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.