Key regions: United States, Europe, Malaysia, Germany, Thailand
The Buses market in Southern Africa is experiencing steady growth due to various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the region have shifted towards more sustainable and environmentally friendly transportation options. As a result, there is a growing demand for buses that run on alternative fuels such as electricity or natural gas. This shift is driven by increasing awareness of the environmental impact of traditional fuel-powered vehicles and the desire to reduce carbon emissions. Additionally, customers in Southern Africa are also prioritizing safety features and comfort when choosing buses, leading to an increased demand for buses with advanced safety technologies and comfortable seating arrangements. Trends in the market indicate a growing need for public transportation infrastructure in Southern Africa. Rapid urbanization and population growth in the region have resulted in increased traffic congestion and the need for efficient public transportation systems. Governments and local authorities are investing in the expansion and improvement of public transport networks, including the procurement of new buses. This trend is further supported by the increasing focus on sustainable transportation solutions and the promotion of public transport as a means to reduce private vehicle usage. Local special circumstances in Southern Africa, such as the presence of informal settlements and rural areas with limited access to transportation, also contribute to the growth of the buses market. Buses play a crucial role in providing affordable and accessible transportation options to these underserved communities. Governments and non-profit organizations are actively working to improve public transport connectivity in these areas, leading to an increased demand for buses. Underlying macroeconomic factors, such as economic growth and infrastructure development, also play a significant role in the growth of the buses market in Southern Africa. As the region continues to experience economic development, there is an increased need for reliable and efficient transportation systems to support trade, commerce, and tourism. Governments are investing in the development of road networks and public transportation infrastructure, which drives the demand for buses. In conclusion, the Buses market in Southern Africa is growing due to customer preferences for sustainable and safe transportation options, the trend of expanding public transportation networks, local special circumstances, and underlying macroeconomic factors. The market is expected to continue to grow as governments and local authorities prioritize the improvement of public transport infrastructure and the promotion of sustainable transportation solutions.
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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