Market Insights Mobility Commercial Vehicles

Buses - Iran

Iran

In 2024, the Buses market in Iran is projected to reach 351.00vehicles unit sales.
This indicates a positive growth trend in the market.
Furthermore, it is expected that the annual growth rate (CAGR 2024-2029) will be 3.75%, leading to a projected market volume of 422.00vehicles units by 2029.
This demonstrates the potential for further expansion in the Buses market.
Moreover, the production of Buses market is forecasted to reach 0.79k vehicles units in 2029.
This highlights the significant growth potential of the market.
From an international perspective, it is noteworthy that a substantial portion of the sales, specifically 116.30k vehicles units, is expected to be the in the United States in 2024.
This emphasizes the importance of the American market in the global Buses market industry.
Iran's bustling transportation sector has seen a surge in demand for modern buses, as the country invests in upgrading its public transportation infrastructure.

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Analyst Opinion

The Buses market in Iran has been experiencing significant growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Buses market in Iran have been shifting towards more environmentally friendly and fuel-efficient vehicles.

This trend is in line with global market preferences, as customers become more conscious about the impact of their transportation choices on the environment. As a result, there has been an increasing demand for electric and hybrid buses in Iran, as well as buses with improved fuel efficiency. In addition to customer preferences, market trends have also played a role in the development of the Buses market in Iran.

One notable trend is the growing emphasis on public transportation infrastructure and services. The government of Iran has been investing in the expansion and improvement of public transportation systems, including buses, to address the increasing urbanization and traffic congestion in major cities. This trend has created opportunities for bus manufacturers and suppliers to cater to the growing demand for buses in the country.

Local special circumstances in Iran have also influenced the development of the Buses market. Iran has a young and growing population, which has contributed to the increasing demand for public transportation, including buses. Additionally, the country has a large middle class with rising disposable incomes, which has further fueled the demand for buses for personal and commercial use.

These local circumstances have created a favorable market environment for bus manufacturers and suppliers to thrive. Furthermore, underlying macroeconomic factors have played a significant role in the growth of the Buses market in Iran. The country has experienced steady economic growth in recent years, driven by factors such as increased oil production and exports, as well as the lifting of international sanctions.

This economic growth has led to an increase in infrastructure development projects, including the expansion of public transportation systems, which has further boosted the demand for buses. In conclusion, the Buses market in Iran is developing due to customer preferences for environmentally friendly and fuel-efficient vehicles, market trends emphasizing public transportation infrastructure, local special circumstances such as a young and growing population and a rising middle class, and underlying macroeconomic factors including steady economic growth and increased infrastructure development projects. These factors have created a favorable market environment for bus manufacturers and suppliers to meet the growing demand for buses in Iran.

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.