Market Insights Mobility Commercial Vehicles

Buses - New Zealand

New Zealand

In the country of New Zealand, the Buses market is projected to reach a total of 12.84k vehicles units in sales by the year 2024.
Looking ahead, the market is expected to experience an annual growth rate of 0.45%, resulting in a projected market volume of 12.84k vehicles units by 2029.
This indicates the potential for growth within the Buses market.
Furthermore, it is worth noting that the production of Buses market is also expected to increase, reaching 1.85k vehicles units by 2029.
Taking an international perspective, it is interesting to observe that a significant portion of the sales, specifically 116.30k vehicles units, is anticipated to occur the in the United States in 2024.
New Zealand's bus market is witnessing a shift towards electric buses, driven by the country's commitment to sustainability and reducing carbon emissions.

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Analyst Opinion

The Buses market in New Zealand has been witnessing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences in the Buses market in New Zealand have shifted towards more sustainable and environmentally friendly modes of transportation. With growing concerns about climate change and pollution, there is a growing demand for buses that run on alternative fuels or are electric-powered. Customers are also looking for buses that are more fuel-efficient and have lower emissions.

Additionally, there is an increasing preference for buses that offer comfort, safety, and modern amenities such as Wi-Fi and USB charging ports. In terms of trends in the market, the Buses market in New Zealand has seen a rise in the adoption of electric buses. The government has been actively promoting the use of electric vehicles, including buses, through various incentives and subsidies.

This has encouraged bus operators to invest in electric buses, leading to an increase in their availability and usage. Another trend in the market is the integration of smart technologies in buses, such as GPS tracking systems and real-time passenger information systems. These technologies improve the efficiency and convenience of bus services, making them more attractive to customers.

Local special circumstances in New Zealand have also contributed to the growth of the Buses market. The country has a relatively small population spread across a large geographical area, which makes public transportation, including buses, an important mode of travel. The government has been investing in improving the public transportation infrastructure, including the expansion and modernization of bus networks.

This has created opportunities for bus manufacturers and operators to cater to the growing demand for buses. Underlying macroeconomic factors have also played a role in the development of the Buses market in New Zealand. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending.

This has resulted in a higher demand for transportation services, including buses. Additionally, the government's focus on sustainable development and reducing carbon emissions has created a favorable environment for the growth of the electric bus market. In conclusion, the Buses market in New Zealand has been growing due to customer preferences for sustainable and comfortable transportation, trends such as the adoption of electric buses and smart technologies, local special circumstances such as the need for an efficient public transportation system, and underlying macroeconomic factors including economic growth and government initiatives.

This market is expected to continue to expand in the coming years as the demand for environmentally friendly and efficient transportation options continues to rise.

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.