Market Insights Mobility Commercial Vehicles

Buses - Australia

Australia

The Buses market in Australia is projected to reach a unit sales of 99.86k vehicles by 2024.
This market is expected to exhibit a compound annual rate of 0.55% (CAGR 2024-2030), resulting in a projected market volume of 103.20k vehicles by 2030.
The production of Buses market in Australia is forecasted to reach 1.90k vehicles units by 2030, which highlights the potential for growth in this market.
From an international perspective, it is evident that the majority of sales, specifically 537.50k vehicles units, will be the in China in 2024.
The demand for electric buses in Australia is on the rise due to the country's commitment to reducing carbon emissions.

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Analyst Opinion

The Buses market in Australia has been experiencing significant growth in recent years. Customer preferences in the Australian Buses market have been shifting towards more environmentally friendly options.

With increasing concerns about climate change and air pollution, customers are showing a strong preference for buses that run on alternative fuels such as electricity or natural gas. This trend is driven by a desire to reduce carbon emissions and promote sustainable transportation solutions. Additionally, customers are also looking for buses that offer improved fuel efficiency and lower operating costs.

Another customer preference in the Australian Buses market is for buses that provide a comfortable and enjoyable travel experience. This includes features such as spacious seating, air conditioning, and entertainment systems. Customers are increasingly looking for buses that offer a high level of comfort and convenience, particularly for long-distance journeys.

Trends in the Australian Buses market include the adoption of advanced technologies and the integration of smart features. Bus manufacturers are incorporating technologies such as GPS tracking, onboard Wi-Fi, and real-time passenger information systems to enhance the overall travel experience. These technologies not only improve the efficiency of bus operations but also provide customers with real-time updates and a more convenient travel experience.

Another trend in the Australian Buses market is the growing demand for electric buses. With the government's focus on reducing carbon emissions and promoting sustainable transportation, there has been a significant increase in the adoption of electric buses. Electric buses offer several advantages, including lower operating costs, reduced noise pollution, and zero tailpipe emissions.

As a result, many bus operators in Australia are transitioning to electric buses to meet the growing demand for sustainable transportation options. Local special circumstances in the Australian Buses market include the vast geography of the country and the high demand for public transportation in urban areas. Australia is a large country with vast distances between cities and towns.

This creates a need for buses that are capable of long-distance travel and can withstand varying road conditions. Additionally, in urban areas, there is a high demand for public transportation due to population density and congestion. This has led to an increased focus on improving the efficiency and reliability of bus services in these areas.

Underlying macroeconomic factors driving the growth of the Australian Buses market include population growth, urbanization, and government initiatives. Australia's population is growing steadily, particularly in urban areas, which increases the demand for public transportation. Urbanization also leads to increased congestion and the need for efficient and reliable bus services.

Additionally, the Australian government has implemented various initiatives to promote sustainable transportation, including subsidies and incentives for the adoption of electric buses. These factors contribute to the overall growth and development of the Buses market in Australia.

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.