Buses - Southeast Asia | Statista Market Forecast

In 2024, it is projected that unit sales in the Buses market in Southeast Asia will reach 10.15k vehicles.
The market is expected to show a compound annual rate (CAGR 2024-2030) of 2.49%, resulting in a projected market volume of 11.76k vehicles by 2030.
This indicates the potential for growth in the Buses market.
Additionally, the production of Buses market is expected to reach 13.50k vehicles in 2030, further highlighting the market's potential.
From an international perspective, it is evident that the China will account for the majority of sales, with 537.50k vehicles units sold in 2024.
In Southeast Asia, the demand for electric buses is increasing rapidly, especially in countries like Singapore and Malaysia.

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 Southeast Asia has been experiencing significant growth in recent years. Customer preferences in the region have been shifting towards more environmentally-friendly and fuel-efficient vehicles.

As awareness of climate change and environmental issues increases, customers are seeking buses that have lower emissions and are more energy efficient. This has led to a rise in the demand for electric and hybrid buses in Southeast Asia. Additionally, customers are also looking for buses that offer more comfort and convenience, with features such as air conditioning, Wi-Fi connectivity, and spacious seating arrangements.

One of the key trends in the market is the increasing adoption of electric buses. Governments in Southeast Asia are implementing policies and incentives to encourage the use of electric vehicles, including buses, in order to reduce air pollution and dependence on fossil fuels. This has resulted in a growing number of electric bus manufacturers entering the market and offering a wide range of electric bus models to cater to the increasing demand.

Another trend in the market is the rise of bus-sharing services. In urban areas with high population density, there is a growing demand for affordable and convenient transportation options. Bus-sharing services, similar to ride-sharing services, allow customers to book seats on buses through mobile applications.

This trend has been particularly popular among younger customers who are looking for more flexible and cost-effective transportation solutions. Local special circumstances in Southeast Asia also play a role in the development of the Buses market. The region has a diverse set of countries, each with its own unique transportation infrastructure and needs.

For example, in countries with large rural populations and limited public transportation options, there is a high demand for buses that can operate on rough terrains and provide reliable transportation in remote areas. On the other hand, in highly urbanized areas with congested roads, there is a need for buses that are smaller in size and more maneuverable. Underlying macroeconomic factors such as population growth and urbanization also contribute to the development of the Buses market in Southeast Asia.

As the population in the region continues to grow, there is an increasing need for public transportation options to accommodate the rising demand. Additionally, rapid urbanization in Southeast Asia has led to the expansion of cities and the need for efficient transportation systems to connect different parts of the city. Overall, the Buses market in Southeast Asia is experiencing growth due to customer preferences for more environmentally-friendly and fuel-efficient vehicles, the increasing adoption of electric buses, the rise of bus-sharing services, local special circumstances, and underlying macroeconomic factors such as population growth and urbanization.

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.