Market Insights Mobility Commercial Vehicles

Buses - Southern Europe

Southern Europe

The Buses market in Southern Europe is anticipated to witness a significant increase in unit sales, with projections estimating a figure of 18.29k vehicles by the year 2024.
Moreover, this market is expected to exhibit a steady annual growth rate of 0.93% from 2024 to 2029, resulting in a projected market volume of 19.16k vehicles by 2029.
This growth in unit sales highlights the potential expansion of the Buses market in the region.
Furthermore, the production of Buses market is predicted to reach 15.67k vehicles in 2029, further emphasizing the potential for growth in this market.
From a global perspective, it is worth noting that a significant portion of these unit sales is expected to occur the in the United States, with an estimated figure of 116.30k vehicles units sold in 2024.
This highlights the dominance of the United States in the Buses market on an international scale.
The demand for electric buses is growing rapidly in Southern Europe, with countries like Spain and Italy leading the way in adopting sustainable transportation solutions.

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Analyst Opinion

The Buses market in Southern Europe is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend.

Customer preferences in Southern Europe are shifting towards more sustainable and environmentally friendly modes of transportation. As a result, there is a growing demand for buses that run on alternative fuels such as electricity or natural gas. Customers are also looking for buses that offer comfort, safety, and advanced technology features.

This includes amenities such as Wi-Fi connectivity, USB charging ports, and improved seating arrangements. Trends in the market show that there is an increasing focus on the modernization and expansion of public transportation systems in Southern European countries. Governments are investing in infrastructure projects to improve the efficiency and reliability of bus networks.

This includes the construction of new bus terminals, the implementation of smart ticketing systems, and the introduction of bus rapid transit (BRT) systems. These trends are driving the demand for new buses and creating opportunities for bus manufacturers and suppliers. Local special circumstances in Southern Europe also contribute to the development of the bus market.

The region has a dense population and urban areas with high traffic congestion. This makes buses an attractive mode of transportation for both commuters and tourists. Additionally, Southern European countries have a strong tourism industry, with millions of visitors each year.

Buses play a crucial role in providing transportation services for tourists, further boosting the demand for buses in the region. Underlying macroeconomic factors further support the growth of the bus market in Southern Europe. The region has been recovering from the economic downturn in recent years, leading to increased consumer spending and investment in infrastructure projects.

Additionally, government initiatives and incentives are encouraging the adoption of sustainable transportation solutions, including buses. These factors create a favorable business environment for bus manufacturers and suppliers in Southern Europe. In conclusion, the Buses market in Southern Europe is developing due to customer preferences for sustainable and technologically advanced buses, trends in the market towards modernization and expansion of public transportation systems, local special circumstances such as population density and tourism, and underlying macroeconomic factors including economic recovery and government initiatives.

The future of the bus market in Southern Europe looks promising, with opportunities for growth and innovation.

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.