Key regions: United States, Europe, Malaysia, Germany, Thailand
The Buses market in BRICS is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences play a crucial role in the development of the Buses market in BRICS. Customers are increasingly looking for buses that are not only reliable and efficient but also environmentally friendly. As awareness about environmental issues grows, there is a growing demand for buses that run on alternative fuels such as electricity or natural gas. Additionally, customers are also seeking buses that offer modern amenities and comfort, such as air conditioning, Wi-Fi, and comfortable seating. Trends in the market are also driving the development of the Buses market in BRICS. One major trend is the increasing urbanization in the BRICS countries. As more people move to cities, the demand for public transportation, including buses, is on the rise. Governments are investing in the expansion and improvement of public transportation systems, leading to an increased demand for buses. Another trend is the rise of e-commerce and the subsequent growth of the logistics industry. This has resulted in a higher demand for buses for the transportation of goods and packages. Local special circumstances also play a role in the development of the Buses market in BRICS. Each country in the BRICS group has its own unique circumstances that influence the market. For example, in China, the government has implemented strict regulations to combat air pollution, leading to a greater demand for electric buses. In India, the government has launched initiatives to promote the use of public transportation, including buses, to reduce traffic congestion and air pollution. These local circumstances create specific opportunities and challenges for the Buses market in each country. Underlying macroeconomic factors are also contributing to the growth of the Buses market in BRICS. Economic growth in the BRICS countries has resulted in an increase in disposable income, allowing more people to afford private vehicles. However, the high cost of owning and maintaining a private vehicle, as well as the increasing traffic congestion in cities, has also led to a greater reliance on public transportation, including buses. Additionally, government investments in infrastructure development, such as roads and highways, have improved connectivity and accessibility, further driving the demand for buses. In conclusion, the Buses market in BRICS is developing at a rapid pace due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for environmentally friendly buses, urbanization, e-commerce growth, government initiatives, and economic development are all contributing to the positive trajectory of the market.
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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