Market Insights Mobility Commercial Vehicles

Buses - Sweden

Sweden

In 2024, the projected unit sales in the Buses market for Sweden are expected to reach 1.26k vehicles.
This indicates the anticipated demand for Buses market in the country.
Looking ahead, it is forecasted that the unit sales will experience an annual growth rate (CAGR 2024-2029) of 1.09%.
As a result, the market volume is projected to reach 1.33k vehicles by 2029.
This growth potential in unit sales showcases the expanding market for Buses market in Sweden.
Furthermore, the production of Buses market is expected to reach 3.82k vehicles by 2029, further highlighting the potential for growth in the Buses market.
On an international scale, it is worth noting that the in the United States is projected to have the highest sales volume in 2024, with a figure of 116.30k vehicles units sold.
Sweden is at the forefront of the electric bus revolution, with a strong focus on sustainability and reducing carbon emissions in its commercial vehicles market.

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Analyst Opinion

The Buses market in Sweden has experienced significant growth in recent years, driven by changing customer preferences and favorable market trends. Customer preferences in the Buses market in Sweden have shifted towards more sustainable and environmentally-friendly options.

With increasing concerns about climate change and air pollution, customers are increasingly opting for buses that run on alternative fuels such as electricity or biofuels. This shift in preference is also driven by government initiatives and regulations promoting the use of clean energy in the transportation sector. In addition to sustainability, customers in Sweden also prioritize safety and comfort when choosing buses.

They look for features such as advanced safety systems, comfortable seating, and modern amenities. This has led to an increase in demand for buses with advanced technology and innovative designs. Trends in the Buses market in Sweden reflect the global market trends, with a focus on electric buses.

Electric buses are gaining popularity due to their zero-emission nature and lower operating costs compared to traditional diesel buses. The Swedish government has been actively promoting the adoption of electric buses by offering subsidies and incentives to bus operators. This has resulted in a significant increase in the number of electric buses in the country.

Another trend in the Buses market in Sweden is the growing popularity of autonomous buses. Autonomous buses offer the potential for increased efficiency, reduced congestion, and improved safety. They are being tested and deployed in various cities across the country as part of pilot projects.

The Swedish government has been supportive of these initiatives and has provided funding for research and development in autonomous bus technology. Local special circumstances in Sweden also contribute to the development of the Buses market. The country has a well-developed public transportation system, with buses playing a crucial role in connecting different regions.

The government has made significant investments in improving the infrastructure and expanding the bus network, which has created opportunities for bus manufacturers and operators. Underlying macroeconomic factors such as economic growth and government policies also play a role in the development of the Buses market in Sweden. The country has a strong economy and a high standard of living, which supports consumer demand for buses.

Government policies promoting sustainable transportation and public transit further drive the growth of the market. In conclusion, the Buses market in Sweden is experiencing growth due to changing customer preferences towards sustainability and safety, as well as favorable market trends such as the adoption of electric and autonomous buses. The country's well-developed public transportation system, supportive government policies, and strong economy contribute to the development of the market.

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.