Buses - Uruguay | Statista Market Forecast

The Buses market in Uruguay is projected to reach 87.00vehicles unit sales by 2024.
It is expected to show a compound annual rate (CAGR 2024-2030) of 2.69%, resulting in a projected market volume of 102.00vehicles units by 2030.
This demonstrates the potential for growth in the Buses market in Uruguay.
In 2030, the production of Buses market is expected to reach 696.00vehicles units, further highlighting the potential of the market.
From an international perspective, it is shown that most of the sales, amounting to 537.50k vehicles units, will be the China in 2024.
Uruguay's commercial vehicle market is witnessing a surge in demand for electric buses, driven by the country's commitment to sustainability and reducing carbon emissions.

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 Uruguay has been experiencing significant growth in recent years. Customer preferences have shifted towards more sustainable and eco-friendly modes of transportation, leading to an increased demand for buses.

Additionally, the government has implemented policies and initiatives to promote public transportation, further boosting the market. Customer preferences in Uruguay have been changing, with a growing emphasis on sustainability and environmental consciousness. As a result, there has been a shift towards using public transportation, including buses, as a more eco-friendly alternative to private vehicles.

This change in customer preferences has led to an increased demand for buses in the country. Furthermore, the government of Uruguay has implemented policies and initiatives to promote the use of public transportation. This includes investing in the expansion and improvement of bus networks, as well as providing incentives for individuals and businesses to choose buses over private vehicles.

These government efforts have further fueled the growth of the buses market in Uruguay. In addition to customer preferences and government initiatives, there are also local special circumstances that have contributed to the development of the buses market in Uruguay. The country has a relatively small population and a high urbanization rate, with a significant portion of the population living in urban areas.

This concentration of population in cities creates a higher demand for public transportation, including buses, to meet the transportation needs of the urban population. Underlying macroeconomic factors have also played a role in the growth of the buses market in Uruguay. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and a higher standard of living for many individuals.

As a result, more people are able to afford private vehicles, but choose to use public transportation, including buses, due to the aforementioned customer preferences and government initiatives. Overall, the Buses market in Uruguay has been developing due to changing customer preferences, government initiatives, local special circumstances, and underlying macroeconomic factors. The shift towards sustainability and the promotion of public transportation have driven the increased demand for buses, while the concentration of population in urban areas and the country's economic growth have provided a favorable environment for the market to thrive.

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.