Buses - Malawi | Statista Market Forecast

The Buses market in Malawi is expected to experience an increase in unit sales, with projections indicating a figure of 17.00vehicles by 2024.
Furthermore, it is anticipated that this market will demonstrate a Compound Annual Growth Rate (CAGR) of -2.06% between 2024 and 2030, resulting in a projected market volume of 15.00vehicles by the end of the forecast period.
In terms of production, the Buses market in Malawi is predicted to reach 0.00 by 2030.
This suggests the potential for significant growth and development within the industry.
From an international perspective, the China is expected to dominate the Buses market in terms of sales, with projections indicating a figure of 537.50k vehicles units in 2024.
Malawi has seen a growing demand for electric buses in its commercial vehicle market, driven by the government's focus on sustainability and reducing carbon emissions.

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 Malawi is experiencing significant growth due to several factors. Customer preferences have shifted towards more environmentally friendly and fuel-efficient vehicles, leading to increased demand for buses.

Additionally, the government has implemented policies to improve public transportation infrastructure, further driving the market growth. Customer preferences in Malawi have shifted towards buses for several reasons. Firstly, buses are seen as a more sustainable and environmentally friendly mode of transportation compared to individual cars.

As awareness of climate change and environmental issues grows, consumers are increasingly choosing public transportation options that have a lower carbon footprint. Moreover, buses are more fuel-efficient than cars, making them a cost-effective option for commuting and travel. The market for buses in Malawi is also influenced by the government's efforts to improve public transportation infrastructure.

The government has invested in the construction and maintenance of roads, which has made bus travel more convenient and efficient. Additionally, the government has implemented policies to encourage the use of public transportation, such as providing subsidies for bus fares and implementing dedicated bus lanes in congested areas. These initiatives have not only increased the demand for buses but also improved the overall transportation system in the country.

In terms of trends, there has been a growing demand for electric buses in Malawi. Electric buses are seen as a more sustainable alternative to traditional diesel-powered buses, as they produce zero emissions and have lower operating costs in the long run. With advancements in battery technology and the availability of charging infrastructure, electric buses are becoming a viable option for public transportation in the country.

Another trend in the market is the adoption of smart technology in buses. This includes features such as GPS tracking, Wi-Fi connectivity, and mobile ticketing systems. These technologies enhance the overall passenger experience and provide operators with valuable data for route optimization and scheduling.

Local special circumstances in Malawi also contribute to the growth of the buses market. The country has a growing population, and urbanization is increasing, leading to higher demand for public transportation. Additionally, the majority of the population in Malawi relies on public transportation for their daily commute, making buses a crucial mode of transportation for many individuals.

Underlying macroeconomic factors, such as economic growth and rising disposable incomes, also play a role in the development of the buses market in Malawi. As the economy grows, more people have the means to afford bus fares, leading to increased demand for public transportation services. In conclusion, the Buses market in Malawi is experiencing growth due to shifting customer preferences towards more sustainable and fuel-efficient transportation options, government initiatives to improve public transportation infrastructure, and the adoption of smart technology in buses.

These trends, along with local special circumstances and underlying macroeconomic factors, are driving the development of the market in the country.

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.