Buses - Pakistan | Statista Market Forecast

The number of unit sales in the Buses market in Pakistan is projected to reach 466.00vehicles by 2024.
It is expected that these unit sales will show a compound annual rate of -2.68% from 2024 to 2030, resulting in a projected market volume of 396.00vehicles by 2030.
This growth in unit sales indicates the potential for the Buses market to expand in Pakistan.
Furthermore, the production of Buses market in Pakistan is expected to reach 340.00vehicles units by 2030, further illustrating the growth potential of the market.
From an international perspective, it is notable that a significant portion of the sales, specifically 537.50k vehicles units, will occur the China in 2024.
Pakistan's commercial vehicle market is experiencing a surge in demand for buses, driven by the growing need for efficient and reliable public transportation solutions in the country.

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 Pakistan is experiencing significant growth and development due to several factors. Customer preferences in the Buses market in Pakistan are shifting towards more fuel-efficient and environmentally friendly vehicles.

As the country faces increasing concerns about air pollution and the impact of greenhouse gas emissions on climate change, there is a growing demand for buses that run on cleaner fuels such as compressed natural gas (CNG) or electric power. Customers are also looking for buses that offer comfortable seating, modern amenities, and advanced safety features. Trends in the Buses market in Pakistan indicate a rising demand for urban transport solutions.

With rapid urbanization and population growth in major cities, there is a need for efficient and reliable public transportation systems. Buses are seen as a cost-effective and practical solution to address the increasing demand for transportation services. Furthermore, the government of Pakistan has been investing in the development of mass transit systems, including bus rapid transit (BRT) projects, to improve urban mobility.

Another trend in the Buses market in Pakistan is the growing popularity of luxury and intercity buses. As disposable incomes rise and the middle class expands, there is a greater demand for comfortable and convenient travel options. Luxury buses equipped with amenities such as reclining seats, onboard entertainment systems, and Wi-Fi connectivity are becoming increasingly popular among travelers.

Intercity bus services are also gaining traction as an affordable and convenient mode of transportation for long-distance travel. Local special circumstances in Pakistan play a significant role in the development of the Buses market. The country's road infrastructure is continuously improving, with the construction of new highways and expressways.

This development enables better connectivity between cities and regions, driving the demand for buses as a mode of transport. Additionally, the government has implemented policies and regulations to promote the use of CNG buses and electric buses, providing incentives and subsidies to bus operators and manufacturers. Underlying macroeconomic factors also contribute to the growth of the Buses market in Pakistan.

The country's population is growing, resulting in an increased need for transportation services. Economic growth and rising urbanization are driving the demand for buses as a means of commuting and travel. Furthermore, government initiatives to modernize the transportation sector and improve public infrastructure are creating opportunities for bus manufacturers and operators.

In conclusion, the Buses market in Pakistan is experiencing growth and development driven by customer preferences for fuel-efficient and comfortable vehicles, the demand for urban transport solutions, the popularity of luxury and intercity buses, local special circumstances such as infrastructure development and government policies, and underlying macroeconomic factors such as population growth and economic expansion.

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.