Buses - Lithuania | Statista Market Forecast

In 2024, the Buses market in Lithuania is projected to reach 273.00vehicles unit sales.
This indicates the expected level of demand for Buses market in the country.
Looking ahead, the market is expected to grow at a compound annual rate of 0.30% from 2024 to 2030.
This growth rate suggests that the market volume will reach 278.00vehicles units by 2030.
Furthermore, the production of Buses market is anticipated to reach 4.00vehicles units in 2030.
This demonstrates the potential for further growth in the Buses market in Lithuania.
From an international perspective, it is worth noting that the China is expected to have the highest sales volume of 537.50k vehicles units in 2024.
This highlights the significance of the American market in the global bus industry.
Lithuania is experiencing a surge in demand for electric buses, as the country aims to reduce its carbon footprint and promote 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 Lithuania has been experiencing significant growth in recent years. Customer preferences have shifted towards more environmentally-friendly and fuel-efficient buses, leading to an increase in demand for electric and hybrid buses.

Additionally, there has been a growing trend towards the use of buses for public transportation, as well as for tourism and leisure purposes. Customer preferences in the Buses market in Lithuania have been influenced by global trends towards sustainability and environmental consciousness. As a result, there is a growing demand for electric and hybrid buses, which offer lower emissions and reduced fuel consumption compared to traditional diesel buses.

Customers are also looking for buses with advanced features and technologies, such as improved safety systems and connectivity options. In addition to environmental considerations, there has been a shift in customer preferences towards the use of buses for public transportation. This is driven by the need for efficient and affordable transportation options, as well as the desire to reduce traffic congestion and promote sustainable mobility.

Buses are seen as a cost-effective and convenient mode of transportation, particularly in urban areas where parking is limited and traffic is congested. Furthermore, the Buses market in Lithuania has seen an increase in demand for buses used in tourism and leisure activities. This is driven by the growth of the tourism industry in the country, as well as the popularity of group travel and organized tours.

Buses are often preferred for these purposes due to their capacity to accommodate large groups of people and their ability to provide a comfortable and convenient travel experience. In terms of local special circumstances, Lithuania has implemented various initiatives to promote the use of electric and hybrid buses. The government has introduced incentives and subsidies to encourage the adoption of these vehicles, including tax breaks and grants for bus operators.

This has created a favorable environment for the growth of the electric and hybrid bus market in the country. Additionally, Lithuania has a well-developed public transportation system, with a network of bus routes connecting various cities and towns. This infrastructure supports the demand for buses used in public transportation, as well as for intercity and regional travel.

The underlying macroeconomic factors driving the growth of the Buses market in Lithuania include a stable economy and increasing disposable income levels. As the economy continues to grow, more people have the means to afford private vehicles, including buses for personal use or for their businesses. This has contributed to the overall growth in the demand for buses in the country.

In conclusion, the Buses market in Lithuania is experiencing growth due to customer preferences for environmentally-friendly and fuel-efficient buses, as well as the increasing use of buses for public transportation and tourism purposes. Local special circumstances, such as government incentives and a well-developed transportation infrastructure, have further supported this growth. The underlying macroeconomic factors, including a stable economy and rising disposable income levels, have also contributed to the expansion 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.