Buses - Taiwan | Statista Market Forecast

The Buses market in Taiwan is projected to reach a unit sales of 102.00vehicles in 2024.
It is expected to show a compound annual rate of 0.48% from 2024 to 2030, resulting in a projected market volume of 105.00vehicles by 2030.
This indicates the potential growth of the Buses market.
Furthermore, the production of Buses market is expected to reach 1.73k vehicles in 2030, further highlighting the market's potential.
From an international perspective, it is noteworthy that the China is projected to have the highest sales in 2024, with a figure of 537.50k vehicles.
Taiwan's bus market is experiencing a surge in demand for electric buses, driven by the government's push for sustainable transportation solutions.

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 Taiwan has been experiencing steady growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Buses market in Taiwan have been shifting towards more environmentally friendly and fuel-efficient options.

With growing concerns about air pollution and climate change, customers are increasingly opting for electric or hybrid buses that have lower emissions and reduce dependency on fossil fuels. Additionally, customers are also looking for buses that offer enhanced safety features, comfortable seating, and advanced technology systems to improve the overall passenger experience. In terms of market trends, the Buses market in Taiwan is witnessing an increasing demand for electric buses.

The government has been actively promoting the adoption of electric vehicles, including buses, through various incentives and subsidies. This has led to a surge in the production and sales of electric buses in the country. Furthermore, the trend towards smart cities and sustainable transportation systems has also contributed to the growing demand for electric buses in Taiwan.

Local special circumstances in Taiwan have also played a role in the development of the Buses market. The country has a well-developed public transportation system, with buses being a popular mode of transport for both urban and rural areas. The government has been investing in the improvement and expansion of the bus network, which has created opportunities for bus manufacturers and suppliers.

Additionally, Taiwan is known for its strong manufacturing capabilities, which has attracted both domestic and international players to invest in the production of buses in the country. Underlying macroeconomic factors have also influenced the growth of the Buses market in Taiwan. The country has a stable economy and a high level of urbanization, which has increased the demand for public transportation services.

As the population continues to grow and urban areas become more congested, there is a greater need for efficient and reliable bus systems. Furthermore, the government's focus on sustainable development and reducing carbon emissions has also contributed to the growth of the Buses market. In conclusion, the Buses market in Taiwan is experiencing steady growth due to customer preferences for environmentally friendly and fuel-efficient options, market trends towards electric buses, local special circumstances such as a well-developed public transportation system and strong manufacturing capabilities, and underlying macroeconomic factors such as a stable economy and a high level of urbanization.

These factors are driving the development and expansion of the Buses market in Taiwan.

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.