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Bus Tickets - Israel

Israel

By 2024, the projected revenue in Israel's Bus Tickets market is expected to reach US$92.00m.
It is estimated that the revenue will grow annually by -0.81%, resulting in a projected market volume of US$89.05m by 2028.
The number of users is also expected to increase to 0.78m users in the same year.
In 2024, the user penetration in this market is projected to be 8.3% and 7.9% by 2028.
The average revenue per user (ARPU) is expected to be US$118.40.
In Israel's Bus Tickets market, it is projected that 70% of the total revenue will be generated through online sales by 2028.
When compared globally, it is interesting to note that China is expected to generate the most revenue in this market, with a projected revenue of US$5,003m in 2024.
Israel's bus market is shifting towards electric and hybrid buses, with the government setting a goal of having all public transportation run on alternative fuels by 2025.

Key regions: Malaysia, Thailand, India, Saudi Arabia, Europe

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Analyst Opinion

The Buses market in Israel has been experiencing significant growth in recent years. Customer preferences have shifted towards more environmentally friendly and sustainable modes of transportation, leading to an increased demand for electric and hybrid buses. Additionally, the government has implemented policies and incentives to promote the adoption of electric buses, further driving the market growth.

Customer preferences: Customers in Israel are increasingly concerned about the environmental impact of transportation and are seeking greener alternatives. As a result, there has been a growing demand for electric and hybrid buses. These vehicles offer lower emissions and reduced fuel consumption compared to traditional diesel buses, making them more appealing to environmentally conscious customers. In addition, electric buses are quieter and provide a smoother ride, enhancing the overall passenger experience.

Trends in the market: One of the key trends in the Buses market in Israel is the shift towards electric and hybrid buses. The government has implemented various initiatives to encourage the adoption of electric buses, including financial incentives and subsidies for purchasing and operating these vehicles. This has led to an increase in the number of electric buses on the roads, with many public transportation companies and municipalities investing in this technology. Additionally, there has been a rise in the number of charging infrastructure installations to support the growing fleet of electric buses.

Local special circumstances: Israel has a strong focus on developing and promoting clean energy technologies. The country has made significant investments in renewable energy, particularly in solar power. This commitment to sustainability extends to the transportation sector, with the government actively promoting the use of electric vehicles, including buses. The country's small size and relatively short travel distances make it well-suited for electric buses, as they have sufficient range for most routes. Furthermore, Israel has a well-developed charging infrastructure network, which supports the widespread adoption of electric buses.

Underlying macroeconomic factors: The growth of the Buses market in Israel can be attributed to several underlying macroeconomic factors. The government's commitment to sustainability and reducing greenhouse gas emissions has created a favorable environment for the adoption of electric and hybrid buses. Additionally, the availability of financial incentives and subsidies has made it more affordable for public transportation companies and municipalities to invest in these vehicles. The growing awareness and concern about climate change among the general population have also contributed to the increased demand for greener transportation options. Overall, the combination of customer preferences, government support, and favorable macroeconomic factors has fueled the growth of the Buses market in Israel.

Methodology

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.