Asia-Pacific: Bus Market 2024

Bus Market Size in Asia-Pacific

In 2023, the Asia-Pacific bus market decreased by X% to $X, falling for the second year in a row after three years of growth. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Bus Production in Asia-Pacific

In value terms, bus production amounted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Bus Exports

Exports in Asia-Pacific

In 2023, the amount of public-transport passenger motor vehicles exported in Asia-Pacific soared to X units, jumping by X% on the year before. Overall, exports, however, recorded a slight reduction. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, bus exports skyrocketed to $X in 2023. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the key exporter of public-transport passenger motor vehicles in Asia-Pacific, with the volume of exports recording X units, which was approx. X% of total exports in 2023. It was distantly followed by Japan (X units) and South Korea (X units), together comprising a X% share of total exports. India (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the public-transport passenger motor vehicles exports, with a CAGR of X% from 2012 to 2023. India (X%), Japan (X%) and South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

China, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per unit, increasing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced mixed trends in the export price figures.

Bus Imports

Imports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in supplies from abroad of public-transport passenger motor vehicles, which increased by X% to X units in 2023. Overall, imports, however, recorded a deep setback. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, bus imports rose notably to $X in 2023. Over the period under review, imports, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of import peaked at $X in 2016; however, from 2017 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Thailand (X units), distantly followed by the Philippines (X units), Australia (X units), Hong Kong SAR (X units), South Korea (X units) and Malaysia (X units) represented the main importers of public-transport passenger motor vehicles, together making up X% of total imports. The following importers - Indonesia (X units), Democratic People's Republic of Korea (X units), Cambodia (X units), China (X units), Afghanistan (X units), New Zealand (X units) and Macao SAR (X units) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Thailand ($X) and Australia ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports. Hong Kong SAR, South Korea, Malaysia, Indonesia, New Zealand, Democratic People's Republic of Korea, Macao SAR, Cambodia, China and Afghanistan lagged somewhat behind, together comprising a further X%.

Among the main importing countries, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per unit, with an increase of X% against the previous year. Import price indicated moderate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, bus import price increased by X% against 2021 indices. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per unit), while Afghanistan ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform