Buses - Iraq | Statista Market Forecast

The Buses market in Iraq is expected to witness a significant growth in unit sales, reaching 298.00vehicles in 2024.
Furthermore, it is projected that the market will continue to expand at a compound annual rate of 2.62% (CAGR 2024-2030), resulting in a market volume of 348.00vehicles by 2030.
This demonstrates the potential for substantial growth in the Buses market within the country.
Moreover, the production of Buses market is anticipated to reach 0.00 by 2030, indicating the extent to which the market can further develop and expand.
This presents an opportunity for Iraq to establish itself as a key player in the production and sales of Buses market.
Looking at the international landscape, it is evident that the China will dominate the sales of Buses market in 2024, with a projected figure of 537.50k vehicles.
This signifies the importance of the American market and the potential for Iraq to tap into this lucrative market.
Overall, the Buses market in Iraq holds promising prospects for growth and development, both domestically and internationally.
The demand for buses in Iraq has been steadily increasing due to the country's growing infrastructure and transportation needs.

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.

For further information on the displayed data, refer to the info button on the right-hand side of each box.

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 Iraq has been experiencing significant growth in recent years. Customer preferences for buses have shifted towards more fuel-efficient and environmentally friendly options. Additionally, there has been an increased demand for buses with advanced safety features and comfortable interiors.

Customer preferences: Customers in Iraq are increasingly looking for buses that are fuel-efficient and environmentally friendly. This shift in preference can be attributed to growing concerns about air pollution and the need for sustainable transportation solutions. As a result, there has been a rise in the demand for buses that run on alternative fuels such as natural gas or electricity. Furthermore, customers are also placing a greater emphasis on safety features in buses. They are looking for buses that are equipped with advanced safety technologies such as anti-lock braking systems, stability control, and collision warning systems. Comfort is another important factor for customers, with a preference for buses that offer spacious and comfortable interiors.

Trends in the market: One of the key trends in the Buses market in Iraq is the increasing adoption of electric buses. Electric buses offer several advantages over traditional diesel buses, including lower operating costs, reduced emissions, and quieter operation. The government of Iraq has also been promoting the use of electric buses as part of its efforts to reduce air pollution and dependence on fossil fuels. Another trend in the market is the growing popularity of mini-buses. Mini-buses are smaller in size compared to traditional buses and are often used for transportation within cities or for short-distance travel. They offer greater flexibility and maneuverability, making them ideal for navigating through congested urban areas.

Local special circumstances: Iraq has a large population and a growing urbanization rate, which has contributed to the increasing demand for buses. The country's transportation infrastructure is still developing, and buses play a crucial role in providing affordable and accessible transportation options for the population. However, the Buses market in Iraq also faces some challenges. The country has been facing political instability and security concerns, which can impact the overall business environment. Additionally, the lack of proper maintenance and repair facilities for buses can affect the longevity and performance of the vehicles.

Underlying macroeconomic factors: The Buses market in Iraq is influenced by various macroeconomic factors. The country's economic growth and stability play a significant role in driving the demand for buses. As the economy continues to grow, there is an increased need for transportation services, including buses. Government policies and regulations also have a significant impact on the Buses market. The government of Iraq has been implementing initiatives to promote the use of public transportation and improve the overall transportation infrastructure. These policies encourage the adoption of buses as a sustainable and efficient mode of transportation. In conclusion, the Buses market in Iraq is experiencing growth due to customer preferences for fuel-efficient and environmentally friendly buses, as well as increased demand for buses with advanced safety features and comfortable interiors. The market is also influenced by trends such as the adoption of electric buses and the popularity of mini-buses. However, the market faces challenges such as political instability and a lack of proper maintenance facilities. The overall growth of the market is driven by Iraq's economic growth, government policies, and the need for affordable and accessible transportation options.

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.