Market Insights Mobility Commercial Vehicles

Buses - South Africa

South Africa

The Buses market in South Africa is estimated to witness a significant growth in the coming years.
By 2024, unit sales are projected to reach 0.55k vehicles, indicating a strong demand for Buses market in the country.
This growth is expected to continue with a compound annual rate of 3.85%, resulting in a projected market volume of 0.69k vehicles by 2030.
Furthermore, the production of Buses market in South Africa is forecasted to reach 0.96k vehicles by 2030, highlighting the potential for further expansion in the Buses market.
In terms of international sales, the in China is anticipated to be the largest market, with unit sales of 537.50k vehicles in 2024.
This demonstrates the global appeal and demand for South African Buses market.
South Africa is experiencing a growing demand for electric buses, driven by government initiatives and a focus on sustainable transportation solutions.

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Analyst Opinion

The Buses market in South Africa is experiencing significant growth and development in recent years. Customer preferences in the South African Buses market have been shifting towards more environmentally friendly and fuel-efficient vehicles.

Customers are increasingly concerned about reducing their carbon footprint and are demanding buses that are equipped with advanced technologies to minimize emissions. Additionally, there is a growing demand for buses with enhanced safety features to ensure the well-being of passengers. Trends in the South African Buses market indicate a rise in the adoption of electric and hybrid buses.

The government's focus on reducing greenhouse gas emissions and promoting sustainable transportation has led to an increase in the production and sales of electric and hybrid buses. These buses not only offer lower emissions but also provide cost savings in terms of fuel consumption. Furthermore, the South African government has implemented favorable policies and incentives to encourage the adoption of electric and hybrid buses, further driving their demand in the market.

Another trend in the South African Buses market is the integration of smart technologies. Bus manufacturers are incorporating advanced features such as GPS tracking systems, real-time passenger information systems, and automated fare collection systems to enhance the overall passenger experience. These technologies not only improve operational efficiency but also provide convenience and safety to passengers.

Local special circumstances in South Africa have also contributed to the development of the Buses market. The country's growing population and urbanization have resulted in increased demand for public transportation. Buses play a crucial role in providing affordable and accessible transportation options to the masses.

Additionally, South Africa's extensive road network and long-distance travel requirements have created a demand for intercity and coach buses. Underlying macroeconomic factors, such as economic growth and government investments in infrastructure development, have also played a significant role in the growth of the Buses market in South Africa. The country's improving economy has led to increased disposable income and a rise in consumer spending.

This, in turn, has boosted the demand for public transportation, including buses. Furthermore, the South African government's focus on improving public transportation infrastructure, including the expansion and modernization of bus fleets, has created opportunities for bus manufacturers and suppliers. In conclusion, the Buses market in South Africa is witnessing growth and development driven by customer preferences for environmentally friendly and technologically advanced vehicles.

The adoption of electric and hybrid buses, integration of smart technologies, and government initiatives to improve public transportation infrastructure are key trends in the market. The country's growing population, urbanization, and economic factors also contribute to the development of the Buses market.

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.