Key regions: United States, Europe, Malaysia, Germany, Thailand
The Buses market in Bhutan has been experiencing significant growth in recent years. Customer preferences for public transportation options, coupled with local special circumstances and underlying macroeconomic factors, have contributed to this trend. Customer preferences in Bhutan have shifted towards using buses as a primary mode of transportation. This can be attributed to several factors. Firstly, the increasing urbanization in Bhutan has led to a higher demand for efficient and affordable transportation options. Buses provide a convenient solution for commuters, especially in densely populated areas where traffic congestion is a common issue. Additionally, the rising awareness of environmental sustainability has prompted individuals to opt for public transportation, reducing their carbon footprint. Trends in the market indicate that there has been a growing demand for buses in Bhutan. This can be attributed to the government's efforts to improve public transportation infrastructure and services. The Bhutanese government has been investing in the expansion and modernization of the bus fleet, aiming to provide reliable and comfortable transportation options for its citizens. This has led to an increase in the number of buses being purchased and operated in the country. Additionally, the introduction of new bus routes and services has further fueled the demand for buses. Local special circumstances in Bhutan have also contributed to the development of the Buses market. The mountainous terrain and challenging road conditions in certain areas of the country make buses an ideal mode of transportation. Buses are able to navigate these difficult terrains more effectively compared to other forms of transportation. Furthermore, the cultural preference for communal travel in Bhutan has also played a role in the popularity of buses. Bhutanese people value the opportunity to interact and socialize with fellow passengers during their journeys, making buses an attractive option. Underlying macroeconomic factors have also influenced the growth of the Buses market in Bhutan. The country's strong economic growth and increasing disposable income levels have made public transportation more accessible to a larger segment of the population. As more individuals can afford to use buses, the demand for these vehicles has risen. Additionally, the government's focus on promoting tourism has led to an increase in the number of tourists visiting Bhutan. This has further boosted the demand for buses, as tourists often rely on public transportation to explore the country. Overall, the Buses market in Bhutan is developing due to customer preferences for public transportation options, the government's efforts to improve infrastructure, local special circumstances, and underlying macroeconomic factors. As these factors continue to shape the market, it is expected that the demand for buses will continue to grow in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of bus tickets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. 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, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.
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