Buses - Israel | Statista Market Forecast

The projected unit sales in the Buses market for the country of Israel are expected to reach 14.32k vehicles by 2024.
This projection indicates a potential growth in the market.
Furthermore, it is anticipated that the unit sales will exhibit a compound annual rate of 2.59% from 2024 to 2030, resulting in a projected market volume of 16.69k vehicles by 2030.
This increase in market volume further highlights the potential for growth in the Buses market.
Additionally, the production of Buses market in Israel is expected to reach 680.00vehicles by 2030, emphasizing the potential for further expansion in the market.
It is worth noting that, from an international perspective, the China is projected to have the highest sales volume of 537.50k vehicles in 2024.
Israel's bus market is experiencing a surge in demand for electric buses, driven by the country's commitment to sustainable transportation solutions.

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 Israel has been experiencing significant growth in recent years, driven by several key factors. Customer preferences have shifted towards more sustainable and environmentally friendly transportation options, leading to an increased demand for buses.

Additionally, the government has implemented policies and initiatives to promote the use of public transportation, further boosting the market. Customer preferences in the Buses market in Israel have been influenced by a growing concern for the environment and a desire for more sustainable transportation options. As a result, there has been a shift towards the use of buses as a means of transportation.

Buses offer a more eco-friendly alternative to private cars, as they can transport a large number of passengers at once, reducing the number of vehicles on the road and decreasing carbon emissions. This shift in customer preferences has contributed to the growth of the Buses market in Israel. In addition to environmental concerns, customer preferences in Israel have also been influenced by the convenience and affordability of bus transportation.

Buses provide a cost-effective mode of transportation, especially for long-distance travel. With the rising cost of fuel and the increasing congestion on roads, many customers are opting for buses as a more economical and efficient option. This has further fueled the growth of the Buses market in Israel.

One of the key trends in the Buses market in Israel is the adoption of electric buses. Electric buses offer several advantages over traditional diesel-powered buses, including lower operating costs and reduced carbon emissions. The Israeli government has been actively promoting the use of electric buses by providing incentives and subsidies to bus operators.

This has led to a significant increase in the number of electric buses in the country, driving the growth of the market. Another trend in the Buses market in Israel is the integration of technology and digital solutions. Bus operators are increasingly adopting advanced technologies such as GPS tracking, real-time passenger information systems, and mobile ticketing to improve the efficiency and convenience of bus services.

These technological advancements have enhanced the overall customer experience and have contributed to the growth of the market. In addition to customer preferences and market trends, there are also local special circumstances that have influenced the development of the Buses market in Israel. The country has a well-developed public transportation infrastructure, with an extensive network of bus routes and terminals.

This infrastructure has facilitated the growth of the Buses market by providing a solid foundation for the operation of bus services. Furthermore, the Israeli government has implemented policies and initiatives to promote the use of public transportation, including buses. These initiatives include the expansion of bus routes, the improvement of bus services, and the provision of subsidies to bus operators.

These measures have created a favorable environment for the growth of the Buses market in Israel. Underlying macroeconomic factors, such as population growth and urbanization, have also contributed to the development of the Buses market in Israel. As the population continues to grow and more people move to urban areas, the demand for public transportation, including buses, is expected to increase.

This presents significant opportunities for bus manufacturers and operators to expand their market presence and meet the growing demand. In conclusion, the Buses market in Israel is experiencing significant growth due to changing customer preferences, government initiatives, and underlying macroeconomic factors. The shift towards more sustainable transportation options, the adoption of electric buses, the integration of technology, and the well-developed public transportation infrastructure have all contributed to the growth of the market.

With the continued support of the government and the increasing demand for public transportation, the Buses market in Israel is expected to continue its upward trajectory 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.