The production of buses and coaches in Turkey has experienced significant variation over the past decade. After peaking in 2015, the production levels faced a downward trend, particularly in 2020 and 2021, which saw some of the steepest drops. In 2022, there was a notable recovery with a 50.08% year-on-year growth, reaching 11.68 thousand units. In 2023, the production stood at 12.0 thousand units, marking a 2.69% increase from the previous year. The compounded annual growth rate (CAGR) from 2019 to 2023 illustrated a modest growth of 0.23%.
Looking ahead to the forecast period from 2024 to 2028, a steady upward trend is expected, with projected production reaching 14.38 thousand units in 2028. The 5-year forecast CAGR stands at 2.87%, indicating a positive growth trajectory.
Future trends to watch for include the increasing adoption of electric and hybrid buses, government incentives for sustainable transportation, and potential market disruptions due to economic or political changes. Market players should also monitor technological advancements in autonomous driving and connectivity, which could further influence production dynamics.
