Market Insights Mobility Commercial Vehicles

Buses - United Kingdom

United Kingdom

The Buses market in the United Kingdom is projected to reach a unit sales of 5.95k vehicles by 2024.
The market is expected to display a compound annual growth rate (CAGR 2024-2030) of 2.60%, resulting in a projected market volume of 6.94k vehicles by 2030.
The production of Buses market in the United Kingdom is also expected to increase to 0.44k vehicles by 2030, highlighting the potential for growth in the market.
From an international standpoint, it is evident that the in China will dominate the sales with a figure of 537.50k vehicles in 2024.
The United Kingdom is experiencing a surge in demand for electric buses, as the government aims to reduce carbon emissions in the transportation sector.

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Analyst Opinion

The Buses market in United Kingdom has been experiencing significant growth in recent years. Customer preferences in the Buses market in United Kingdom have been shifting towards more environmentally friendly and fuel-efficient vehicles.

This is driven by increasing awareness of climate change and the need to reduce carbon emissions. Customers are also looking for buses that are equipped with modern features and technologies, such as Wi-Fi connectivity and advanced safety systems. Additionally, there is a growing demand for electric buses as the government encourages the adoption of clean energy in the transportation sector.

One of the key trends in the Buses market in United Kingdom is the increasing adoption of electric buses. The government has set ambitious targets to reduce greenhouse gas emissions, and the transportation sector is a major contributor to these emissions. As a result, there has been a push to electrify public transportation, including buses.

Electric buses offer several advantages, including lower operating costs and reduced emissions. With advancements in battery technology and the availability of charging infrastructure, the adoption of electric buses is expected to continue to rise in the coming years. Another trend in the Buses market in United Kingdom is the integration of smart technologies.

Bus operators are increasingly using technologies such as GPS tracking and real-time passenger information systems to improve the efficiency and reliability of their services. These technologies allow operators to optimize routes, reduce congestion, and provide passengers with accurate and up-to-date information. Additionally, smart ticketing systems are being implemented to streamline the ticketing process and improve the overall customer experience.

Local special circumstances in the Buses market in United Kingdom include the presence of a well-developed public transportation infrastructure and a high population density in urban areas. The United Kingdom has a comprehensive network of bus routes, making buses a popular mode of transportation for both residents and tourists. The high population density in cities like London and Manchester creates a large customer base for bus services.

Additionally, the government has implemented policies to promote the use of public transportation, such as congestion charges and low emission zones, which further drive the demand for buses. Underlying macroeconomic factors that contribute to the development of the Buses market in United Kingdom include economic stability and government support. The United Kingdom has a stable economy, which provides a favorable environment for businesses in the transportation sector.

The government has also introduced initiatives and incentives to support the growth of the Buses market, such as grants for the purchase of electric buses and funding for infrastructure development. These factors create a conducive environment for bus manufacturers and operators to invest in the market and drive its development. In conclusion, the Buses market in United Kingdom is experiencing growth due to shifting customer preferences towards environmentally friendly and technologically advanced vehicles.

The adoption of electric buses and the integration of smart technologies are key trends in the market. Local special circumstances, such as a well-developed public transportation infrastructure and high population density, contribute to the market's development. Economic stability and government support are underlying macroeconomic factors that drive the growth of the Buses market in United Kingdom.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of buses.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. 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, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.