Key regions: United States, Europe, Malaysia, Germany, Thailand
The Buses market in Ghana 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 Ghana have been shifting towards more fuel-efficient and environmentally friendly vehicles. This is in line with global trends where customers are increasingly conscious of the impact of their choices on the environment. As a result, there has been a growing demand for buses that run on alternative fuels such as natural gas or electricity. Customers are also looking for buses that are comfortable, safe, and equipped with modern amenities. Trends in the market indicate that the demand for buses in Ghana is expected to continue growing in the coming years. This can be attributed to the country's rapid urbanization and population growth, which has led to an increase in the need for public transportation. Additionally, the government has been investing in infrastructure development, including the construction of new roads and highways, which further drives the demand for buses. Local special circumstances in Ghana also contribute to the development of the Buses market. The country has a large informal sector, with many small businesses operating in the transportation industry. These businesses often rely on buses for their operations, creating a constant demand for new vehicles. Furthermore, Ghana has a thriving tourism industry, attracting both domestic and international tourists who require transportation services, further driving the demand for buses. Underlying macroeconomic factors play a significant role in the development of the Buses market in Ghana. The country has experienced stable economic growth in recent years, which has led to an increase in disposable income and improved living standards. This has resulted in a higher demand for transportation services, including buses. Additionally, the government has implemented policies to promote the growth of the manufacturing sector, which includes the production of buses. This has attracted investment and created employment opportunities, further stimulating the market. In conclusion, the Buses market in Ghana is developing due to customer preferences for fuel-efficient and environmentally friendly vehicles, market trends driven by urbanization and infrastructure development, local special circumstances such as the informal sector and tourism industry, and underlying macroeconomic factors such as stable economic growth and government policies.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
