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Morocco Bus Market
Enhancing urban mobility and public conveyance framework is a prominent factor driving the Morocco bus market.
Morocco's government has taken an enterprising perspective to enhance conveyance, particularly through the USD 1.1 billion funding at improving the public conveyance system.” - Polaris
market ResearchNEW YORK CITY, NY, UNITED STATES, October 22, 2024 /EINPresswire / -- The Morocco bus market forecast for 2032 is a specialized study of the
industry with a specific concentration on the market trend analysis.
Polaris Market Research's latest report, titled "Morocco Bus Market,” 2024-2032. The report covers key success factors, market performance, risk factors, project costs and economics, expected ROI, and profit margins. The market was valued at USD 207.42 million in 2023 and is expected to grow to USD 253.55 million by 2032 at a CAGR of 2.3% during the forecast period.
What Is Morocco Bus?
If one is travelling in Morocco without a car, there is a likelihood one will board a CTM bus at some point. The CTM framework is extensive and their buses are comfy and dependable. Parallel to Supratours, the alternate popular bus company in Morocco, CTM is a premier way to travel through Morocco utilizing public conveyance. These buses are unsullied, dependable and prominently on time. The drivers and station workers are attired professionally and do speak some English.
Albeit approved with tourists, one will detect an abundance of Moroccans on the CTM bus. The locals are friendly and inquisitive about tourists, particularly on the overnight course from Dakhla to Agadir. CTM stations are detected in every city and several bigger towns throughout Morocco and Western Sahara. They differ from extensive and contemporary establishments to compact paved rooms. Extensive projects are targeted at enhancing urban potency, simplifying traffic overcrowding and offering obtainable transportation alternatives for several homeowners and tourists, impacting the Morocco bus market growth favourably.
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Who Makes Morocco Bus?
.Xiamen King Long International Trading Co., Ltd.
.Scania AB
.AB Volvo
.Mitsubishi Fuso Truck and Bus Corporation
.Hyundai Motor Company
.Daimler Truck AG
.MAN
.Iveco Group N.V.
.Higer Bus Company Limited
.Irizar
.E&A
.Karsan
Some of the leading players in the Morocco bus market. Spearheading market contenders are funding massively in research and development to augment their product lines which will assist the market to grow.
Some of the latest developments in the market are:
.In October 2023, Hyundai Motor Co., South Korea's prominent automaker and Iveco Group N.V. have consolidated their associations by initiating the hydrogen fuel cell electric vehicle E-WAY H2.
.In June 2022, MAN Truck and Bus proposes initiating its global electric bus chassis structuring on the triumph of Lion City's E with specimen conveyance in 2023 and series-making commencing in 2024, primarily concentrating on two-axle intercity buses.
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What's Driving Market Forward?
.Contribution to Public Transport Modernization: In 2020, Daimler Buses procured a prominent order from ALSA for 500 city buses involving 420 solo and 80 segmented Mercedes-Benz Conecto buses, all conforming to Euro VI discharge standards. These buses provide for Casablanca's public transport refurbishment, agreeing with the government's strategic objectives.
.Rising Green Transportation: Government inducements in Morocco are propelling the demand for electric buses and encouraging green transportation. For instance, the present alliance with South Korea to initiate 20 electric buses and an Intelligent Transport System in Marrakech, endorsed by USD 12.6 million in funding. This, in turn, is having a favourable impact on Morocco bus market sales.
.Updating of the Transport Network: Morocco's funding in updating its transport framework involving contemporary road frameworks, highways, and urban transit systems is pushing the demand for buses. The county improves the association between urban and rural geographies, and there is an escalating requirement for a dependable bus fleet to manage growing passenger magnitudes.
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How Is Market Segmentation Done?
By Type Outlook:
.Single Deck
.Double Deck
By Application Outlook:
.Transit Bus
.Intercity/Motorcoaches
.School Bus
.Tourist Bus
.Staff Pickup/Hotel Shuttle
.Others
By Fuel Type Outlook:
.Diesel
.Electric/Hybrid
By Capacity Outlook:
.15-30 Seats
.31-50 Seats
.Over 50 Seats
Browse PMR's Morocco Bus Market Report Coverage from Different Publications:
The Morocco bus industry is expected to reach USD 253.55 million by 2032, exhibiting a CAGR of 2.3% during 2024–2032.
FAQs:
How much is the Morocco bus market?
The market size was valued at USD 207.42 million in 2023.
What is the growth rate of the Morocco bus market?
The market is projected to register a CAGR of 2.3% during the forecast period.
Which segment, based on type, led the market in 2023?
The single deck segment dominated the market in 2023.
In terms of fuel type, which segment accounted for the largest market share?
The diesel segment held the largest share of the Morocco market in 2023.
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
Likhil G
Polaris Market Research and Consulting
+ + + +1 929-297-9727
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