Buses - Ghana | Statista Market Forecast

In Ghana, the unit sales in the Buses market are projected to reach 19.00vehicles by 2024.
It is expected that there will be a compound annual rate (CAGR 2024-2030) of -4.96%, resulting in a projected market volume of 14.00vehicles by 2030.
The production of Buses market in Ghana is expected to reach 0.00 by 2030, indicating the potential for growth in the Buses market.
From an international perspective, it is shown that the majority of sales, reaching 537.50k vehicles in 2024, will be the China.
The demand for modern, fuel-efficient buses in Ghana is steadily increasing, driven by the country's growing urban population and government initiatives to improve public transportation.

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 Ghana has been experiencing significant growth in recent years, driven by various factors such as customer preferences, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Buses market in Ghana have been shifting towards more modern and comfortable buses.

Customers are increasingly looking for buses that offer amenities such as air conditioning, comfortable seating, and entertainment systems. This trend is driven by the rising disposable incomes and changing lifestyles of consumers in Ghana. As people become more affluent, they are willing to pay a premium for a better travel experience.

In addition to customer preferences, there are also local special circumstances that are contributing to the growth of the Buses market in Ghana. One such circumstance is the inadequate public transportation infrastructure in the country. The existing public transportation system is often unreliable and overcrowded, leading to a growing demand for private buses.

This has created opportunities for bus operators to cater to the needs of commuters who are looking for a more convenient and comfortable mode of transportation. Furthermore, underlying macroeconomic factors are also playing a role in the development of the Buses market in Ghana. The country has been experiencing steady economic growth in recent years, which has led to an increase in urbanization and a growing middle class.

As more people move to cities and their incomes rise, the demand for transportation services, including buses, is expected to increase. Additionally, the government has been investing in infrastructure development, including road construction and improvement, which is expected to further boost the demand for buses. Overall, the Buses market in Ghana is witnessing growth due to customer preferences for modern and comfortable buses, local special circumstances such as inadequate public transportation infrastructure, and underlying macroeconomic factors such as economic growth and government investments in infrastructure.

As these factors continue to drive the market, it is expected that the Buses market in Ghana will continue to grow in the coming years.

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.