Buses - Madagascar | Statista Market Forecast

In 2024, the Buses market in Madagascar is projected to reach 12.00vehicles unit sales.
It is expected that the market will experience a compound annual rate (CAGR 2024-2030) of -2.99%, resulting in a projected market volume of 10.00vehicles units by 2030.
The production of Buses market in Madagascar is expected to reach 0.00 units by 2030, indicating the potential for significant growth in the market.
From an international perspective, it is shown that the China will have the highest sales volume in 2024, with 537.50k vehicles units.
The demand for eco-friendly electric buses is on the rise in Madagascar, as the country strives to reduce its carbon footprint in the commercial vehicles market.

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 Madagascar has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and comfortable buses, leading to an increase in demand for these vehicles.

Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market. Customer preferences in the Buses market in Madagascar have evolved over time. Customers are now looking for buses that offer greater comfort, safety, and reliability.

They prefer buses with air conditioning, comfortable seating, and modern amenities. This shift in preferences has led to an increase in demand for buses that meet these criteria. Additionally, customers are increasingly concerned about the environmental impact of their transportation choices, leading to a growing demand for electric or hybrid buses.

Trends in the market show that there is a growing demand for buses in Madagascar. This can be attributed to several factors. Firstly, the country's population has been increasing steadily, leading to a greater need for public transportation.

As more people move to urban areas, the demand for buses to commute to work or school has increased. Additionally, the government has been investing in infrastructure development, including the construction of new roads and highways. This has created a need for more buses to transport people to these newly developed areas.

Local special circumstances in Madagascar have also played a role in the development of the Buses market. The country is known for its diverse geography, with a mix of urban and rural areas. This presents unique challenges for transportation.

In urban areas, there is a need for buses that can navigate through congested streets and provide efficient transportation. In rural areas, buses are often used to transport goods and people over long distances. This has led to a demand for buses that are durable and can withstand rough terrain.

Underlying macroeconomic factors have also contributed to the growth of the Buses market in Madagascar. The country has experienced steady economic growth in recent years, leading to an increase in disposable income. This has allowed more people to afford private transportation, including buses.

Additionally, the government has implemented policies to promote the use of public transportation, such as subsidies for bus operators and the expansion of bus routes. These factors have created a favorable environment for the growth of the Buses market. In conclusion, the Buses market in Madagascar has been developing due to changing customer preferences, local special circumstances, and underlying macroeconomic factors.

The demand for more modern and comfortable buses, along with the need for efficient transportation in urban and rural areas, has contributed to the growth of the market. Additionally, the country's steady economic growth and government support for public transportation have created a favorable environment for the development of the Buses 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.