Buses - Kuwait | Statista Market Forecast

The Buses market in Kuwait is projected to reach 28.00vehicles unit sales in 2024.
It is expected to experience a compound annual rate (CAGR 2024-2030) of 1.71%, resulting in a projected market volume of 31.00vehicles by 2030.
This indicates the potential for growth in the Buses market.
Looking at the international perspective, the China is expected to lead in terms of sales with 537.50k vehicles units in 2024.
Kuwait's commercial vehicle market is witnessing a growing demand for electric buses, driven by the government's push for 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 Kuwait is experiencing significant growth and development due to a number of factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory.

Customer preferences in Kuwait are driving the demand for buses. With an increasing population and urbanization, there is a growing need for efficient and reliable public transportation. Buses are seen as a cost-effective and environmentally friendly mode of transportation, making them a popular choice among commuters.

Additionally, the government has been actively promoting the use of public transportation, further fueling the demand for buses. Trends in the market also contribute to the growth of the Buses market in Kuwait. One notable trend is the shift towards electric buses.

As the country aims to reduce its carbon footprint and promote sustainable transportation, there is a growing demand for electric buses. This trend is in line with global efforts to combat climate change and reduce dependence on fossil fuels. Additionally, there is a growing interest in smart buses that are equipped with advanced technologies such as GPS tracking and real-time passenger information systems.

Local special circumstances also play a role in the development of the Buses market in Kuwait. The country's small size and well-developed road infrastructure make it conducive for the use of buses as a primary mode of transportation. Additionally, the government has implemented policies and initiatives to support the growth of the public transportation sector, including the expansion of bus networks and the introduction of dedicated bus lanes.

Underlying macroeconomic factors contribute to the overall growth of the Buses market in Kuwait. The country has a stable economy and a high per capita income, which enables individuals and businesses to invest in transportation infrastructure. Additionally, the government's commitment to diversifying the economy and reducing reliance on oil revenues has led to increased investments in sectors such as transportation.

In conclusion, the Buses market in Kuwait is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for buses is driven by customer preferences for cost-effective and environmentally friendly transportation options. Trends such as the shift towards electric buses and smart technologies are shaping the market.

Local special circumstances, including the country's small size and well-developed road infrastructure, support the growth of the Buses market. Underlying macroeconomic factors, such as a stable economy and government initiatives, contribute to the overall positive trajectory of the market.

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.