Market Insights Mobility Commercial Vehicles

Buses - MENA

MENA

In the MENA region, the Buses market is expected to see a rise in unit sales, reaching 7.50k vehicles by 2024.
This projected growth indicates a positive trend in the market.
Furthermore, it is anticipated that the Buses market will continue to expand at an annual growth rate of 1.83%, as per the CAGR between 2024 and 2029.
This growth trajectory is expected to result in a market volume of 8.21k vehicles by 2029.
The production of Buses market in the MENA region is also expected to increase significantly, reaching a total of 18.78k vehicles units by 2029.
This production capacity showcases the potential for further growth and development in the Buses market.
Taking an international perspective, it is noteworthy that a significant portion of Buses market sales, amounting to 116.30k vehicles units, is projected to occur the in the United States by 2024.
This indicates the prominence of the United States as a key market for Buses market.
The demand for electric buses in the MENA region is steadily increasing, with countries like the UAE leading the way in adopting sustainable transportation solutions.

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Analyst Opinion

The Buses market in the Middle East and North Africa (MENA) region has been experiencing significant growth in recent years. Customer preferences in the MENA region have been shifting towards more sustainable and environmentally friendly transportation options.

This has led to an increased demand for buses, especially those that run on clean energy sources such as natural gas or electricity. Customers are also looking for buses that offer modern amenities and comfortable seating arrangements. One of the trends in the market is the increasing adoption of electric buses.

Governments in the MENA region are implementing policies and incentives to promote the use of electric vehicles, including buses. This has led to a rise in the number of electric bus manufacturers and suppliers in the region. Additionally, the growing concern over air pollution and the need to reduce greenhouse gas emissions has further fueled the demand for electric buses.

Another trend in the market is the integration of smart technologies in buses. Customers in the MENA region are increasingly looking for buses that offer advanced features such as Wi-Fi connectivity, GPS navigation systems, and real-time passenger information. These features not only enhance the overall passenger experience but also improve the efficiency and safety of bus operations.

Local special circumstances in the MENA region also contribute to the development of the bus market. The region has a growing population, rapid urbanization, and increasing traffic congestion. As a result, there is a need for efficient and reliable public transportation systems, including buses, to meet the growing demand for mobility.

Governments in the region are investing in the expansion and modernization of their public transportation infrastructure, which includes the procurement of new buses. Underlying macroeconomic factors, such as economic growth and government spending, also play a role in the development of the bus market in the MENA region. The region has been experiencing economic growth, which has led to an increase in disposable income and urbanization.

This, in turn, has driven the demand for public transportation, including buses. Additionally, governments in the MENA region are allocating significant budgets for infrastructure development, which includes investments in public transportation. In conclusion, the Buses market in the MENA region is developing due to customer preferences for sustainable and technologically advanced transportation options, the integration of smart technologies in buses, local special circumstances such as population growth and traffic congestion, and underlying macroeconomic factors such as economic growth and government spending.

Methodology

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.