Key regions: United States, Europe, Malaysia, Germany, Thailand
The Buses market in EU-27 is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: In recent years, there has been a growing demand for buses in the EU-27 market. This can be attributed to the increasing focus on sustainable transportation solutions and the need for efficient public transportation systems. Customers are increasingly looking for buses that are environmentally friendly, fuel-efficient, and equipped with advanced features such as electric or hybrid engines. Additionally, there is a rising demand for buses with enhanced safety features and comfortable interiors, catering to the needs of both passengers and operators.
Trends in the market: One of the key trends in the Buses market in EU-27 is the shift towards electric and hybrid buses. With the increasing concern over climate change and the need to reduce carbon emissions, many countries in the EU-27 have implemented strict regulations and incentives to promote the adoption of electric and hybrid vehicles. This has led to a significant increase in the production and sales of electric and hybrid buses in the region. Additionally, there is a growing trend towards the use of digital technologies in buses, such as advanced telematics systems, onboard Wi-Fi, and real-time passenger information systems, to enhance the overall passenger experience and improve operational efficiency.
Local special circumstances: The Buses market in EU-27 is influenced by various local special circumstances. For example, in densely populated urban areas, there is a higher demand for buses to cater to the needs of the growing population and to alleviate traffic congestion. This has led to the development of innovative bus rapid transit (BRT) systems in cities across the region. Additionally, some countries in the EU-27 have implemented stricter emission standards and regulations for buses, which has encouraged the adoption of cleaner and more fuel-efficient technologies.
Underlying macroeconomic factors: The growth and development of the Buses market in EU-27 are also influenced by underlying macroeconomic factors. For instance, the overall economic growth and stability in the region play a significant role in driving the demand for buses. As the economy grows, there is an increased need for public transportation to support commuting and travel. Moreover, government initiatives and investments in infrastructure development, such as the expansion of public transportation networks and the improvement of road and highway systems, contribute to the growth of the Buses market. In conclusion, the Buses market in EU-27 is experiencing growth and development due to customer preferences for sustainable and technologically advanced buses, the trend towards electric and hybrid vehicles, local special circumstances such as urbanization and emission regulations, and underlying macroeconomic factors such as economic growth and government initiatives. This presents opportunities for bus manufacturers and suppliers to cater to the evolving needs of the market and contribute to the development of efficient and sustainable public transportation systems in the EU-27 region.
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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