Market Insights Mobility Commercial Vehicles

Buses - Gambia

Gambia

Sales in the market Buses market in Gambia are projected to reach 43.00vehicles units in 2024.
The annual growth rate (CAGR 2024-2029) is expected to be 0.91%, resulting in a projected market volume of 45.00vehicles units by 2029.
This indicates the potential for growth in the Buses market.
Looking at the international perspective, it is evident that a significant portion of the sales, specifically 116.30k vehicles units, will be the in the United States in 2024.
Gambia's commercial vehicle market is witnessing a growing demand for buses, driven by the need for efficient transportation solutions in the country.

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Analyst Opinion

The Buses market in Gambia is experiencing steady growth due to customer preferences for reliable and affordable transportation options.

Customer preferences: In Gambia, customers prioritize buses as a means of transportation due to their affordability and convenience. Buses offer a cost-effective alternative to private cars and taxis, making them a popular choice for both daily commuting and long-distance travel. Additionally, the availability of bus routes and schedules allows customers to plan their journeys efficiently.

Trends in the market: One of the key trends in the Buses market in Gambia is the increasing demand for modern and comfortable buses. Customers are seeking buses that provide a comfortable and safe travel experience, with features such as air conditioning, comfortable seating, and entertainment systems. This trend is driven by the desire for a more enjoyable travel experience, particularly for longer journeys. Another trend in the market is the growing popularity of eco-friendly buses. As environmental concerns become more prevalent, customers in Gambia are showing a preference for buses that are powered by clean energy sources such as electricity or natural gas. This trend aligns with global efforts to reduce carbon emissions and promote sustainable transportation options.

Local special circumstances: Gambia's geography and infrastructure also play a role in shaping the Buses market. The country's road network is relatively well-developed, allowing for efficient bus transportation across different regions. Additionally, Gambia's tourism industry contributes to the demand for buses, as tourists often rely on buses for sightseeing and exploring the country.

Underlying macroeconomic factors: The growth of the Buses market in Gambia is also influenced by macroeconomic factors. The country's stable economic growth and rising disposable incomes have increased the affordability of bus travel for many customers. As the economy continues to develop, more individuals and families are able to afford bus tickets, leading to an expansion of the market. Furthermore, government initiatives and investments in public transportation infrastructure have also contributed to the growth of the Buses market. The government's focus on improving transportation networks and promoting sustainable modes of transport has created opportunities for bus operators and manufacturers. In conclusion, the Buses market in Gambia is experiencing growth driven by customer preferences for affordable and reliable transportation options. The demand for modern and comfortable buses, as well as eco-friendly alternatives, is shaping the market. Additionally, Gambia's geography, tourism industry, and macroeconomic factors contribute to the market's development.

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.