Electric Bus Market Will Grow 26.1% to a Record $ 214,567.2 Mn by 2026
The global Electric Bus Market size is anticipated to around USD 214,567.2 million by 2026, this market is anticipated to grow with 26.1% CAGR during the forecast time period. In the Electric Bus Market, The regional segmentation includes current and projected demand in North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
Electric bus can either store electricity on board or feed from the external source on a continuous basis. Electric busses are primarily electric battery buses where an electro-powerful motor generates electricity from on-board batteries, although there are examples of other types of transport, such as a gyrobus that uses flywheel control. Energy is provided by interaction with external power sources where energy is not contained aboard.
Drivers and Challenges of Market
Growing concern over depletion of fossil fuels and environmental pollution consequently drive the electric bus industry. Most governments around the world have modified public transport systems by substituting heavy-duty diesel and petrol-driven buses for zero-emission electric buses in order to address the aforesaid issues. There is a rising price of crude oil which forces governments funding for e-busses. A significant portion of developing countries expenditure is spent on crude oil purchases thus; governments encourage e-buses to reduce expenditure. E-busses can be cost-effective in the long run although not costly than regular buses because they save the heavy expenditures incurred by imports of petroleum. Therefore, the market is expected to become a bright future in near future.
Air pollution is a major cause of death according to the World Health Organization (WHO). Since vehicle emissions have adverse environmental and public health impacts, global governments have made considerable investments in the construction of facilities to reduce greenhouse gas emissions and lower levels of air pollution. This has contributed to the stringent emission regulations imposed by governments. Such regulations fuel the growth of the demand for electric buses. The electric bus is free of dirt because no dangerous substances are released. An electric bus is also successful and provides electric urban transport and provides towns with a road to clean air sustainability.
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Electric Bus Market (By Vehicle Type: Plug-in Hybrid Electric Bus, Battery Electric Bus; By Consumer: Fleet Operators, Government) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026
Moreover, the electric bus market is anticipated to grow due to emergence of battery based technologies and increased research into them. Rechargeable electric bus batteries can save power, which can be quickly depleted due to increased consumption and will therefore aid the growth of the electric bus industry. However, the growth in the electric bus may be limited by high production costs associated with hybrid or electric buses, coupled with less understanding of the benefits offered by electric buses in certain developing countries.
Regional Outlook
Asia-Pacific held significant market share in 2018. One of the main reasons for the growth and development of the electric bus market in Asia Pacific is the presence of a huge number of market players in the region, particularly in China. Besides, increased governmental initiatives to encourage the use of electric buses in order to reduce air pollution via vehicles are expected to increase the market in North America and Europe. The Middle East and Africa economies are drawing companies to increase their spending in regions and are expecting healthy growth in the forecast period.
The growing demand for electricity transit systems, the growth of renowned OEMs and government support is driving the electric bus industry in Middle East & Africa. The first smart electric bus in the world was launched in November 2019, with the assistance of the Shanghai Wanxiang Company, China. Futon Motor has planned to produce more than 2,000 electric buses in the country in the next four years with the Egypt Military Development Ministry in May 2019.
Key Players & Strategies
Players profiled in the report are VDL Groep, Yutong, BYD, Proterra, and AB Volvo, and Others. Due to the growing number of orders from the national and international markets for its electric buses, BYD continues to be the top player.
Companies such as BYD and Yutong hold a significant share of over 40% in the Chinese electric bus industry in 2018.
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Market Segmentation
Electric Bus Market By Vehicle Type
- Plug-in Hybrid Electric Bus
- Battery Electric Bus
Electric Bus Market By Consumer
- Fleet Operators
- Government
Electric Bus Market By Geography
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of MEA
Key Questions Answered in the Report
The report addresses key questions concerning the market evolution and overarching trends shaping global market growth. Some of the key questions answered in the report include-
- What is the overall structure of the market?
- What was the historical value and what is the forecasted value of the market?
- What are the key product level trends in the market?
- What are the market level trends in the market?
- Which of the market players are leading and what are their key differential strategies to retain their stronghold?
- Which are the most lucrative regions in the market space?
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TABLE OF CONTENT
CHAPTER 1. INDUSTRY OVERVIEW
1.1. Definition and Scope
1.1.1. Definition of Pure Cashmere
1.1.2. Market Segmentation
1.1.3. List of Abbreviations
1.2. Summary
1.2.1. Market Snapshot
1.2.2. Electric Bus Market By Vehicle Type
1.2.2.1. Global Electric Bus Market Revenue and Growth Rate Comparison By Vehicle Type (2015-2026)
1.2.2.2. Plug-in Hybrid Electric Bus
1.2.2.3. Battery Electric Bus
1.2.3. Electric Bus Market By Consumer
1.2.3.1. Global Electric Bus Market Revenue and Growth Rate Comparison By Consumer (2015-2026)
1.2.3.2. Global Electric Bus Market Revenue Share By Consumer in 2018
1.2.3.3. Fleet Operators
1.2.3.4. Government
1.2.4. Electric Bus Market By Geography
1.2.4.1. Global Electric Bus Market Revenue and Growth Rate Comparison by Geography (2015-2026)
1.2.4.2. North America Electric Bus Market Revenue and Growth Rate(2015-2026)
1.2.4.3. Europe Electric Bus Market Revenue and Growth Rate(2015-2026)
1.2.4.4. Asia-Pacific Electric Bus Market Revenue and Growth Rate(2015-2026)
1.2.4.5. Latin America Electric Bus Market Revenue and Growth Rate(2015-2026)
1.2.4.6. Middle East and Africa (MEA) Electric Bus Market Revenue and Growth Rate(2015-2026)
CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS
2.1. Market Drivers
2.2. Restraints and Challenges
2.3. Growth Opportunities
2.4. Porter’s Five Forces Analysis
2.4.1. Bargaining Power of Suppliers
2.4.2. Bargaining Power of Buyers
2.4.3. Threat of Substitute
2.4.4. Threat of New Entrants
2.4.5. Degree of Competition
2.5. Value Chain Analysis
2.6. Cost Structure Analysis
2.6.1. Raw Material and Suppliers
2.6.2. Manufacturing Process Analysis
2.7. Regulatory Compliance
2.8. Competitive Landscape, 2018
2.8.1. Player Positioning Analysis
2.8.2. Key Strategies Adopted By Leading Players
CHAPTER 3. MANUFACTURING PLANTS ANALYSIS
3.1. Capacity and Commercial Production Date of Global Pure Cashmere Major Manufacturers in 2018
3.2. Manufacturing Plants Distribution of Global Pure Cashmere Major Manufacturers in 2018
3.3. R&D Status and Technology Source of Global Pure Cashmere Major Manufacturers in 2018
3.4. Raw Materials Sources Analysis of Global Pure Cashmere Major Manufacturers in 2018
CHAPTER 4. ELECTRIC BUS MARKET BY VEHICLE TYPE
4.1. Global Pure Cashmere Revenue By Vehicle Type
4.2. Plug-in Hybrid Electric Bus
4.2.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
4.2.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
4.3. Battery Electric Bus
4.3.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
4.3.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
CHAPTER 5. ELECTRIC BUS MARKET BY CONSUMER
5.1. Global Pure Cashmere Revenue By Consumer
5.2. Fleet Operators
5.2.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
5.2.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
5.3. Government
5.3.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
5.3.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
CHAPTER 6. NORTH AMERICA ELECTRIC BUS MARKET BY COUNTRY
6.1. North America Electric Bus Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.2. North America Electric Bus Market Revenue Share Comparison, 2015 & 2026 (%)
6.3. U.S.
6.3.1. U.S. Electric Bus Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
6.3.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
6.4. Canada
6.4.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
6.4.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
CHAPTER 7. EUROPE ELECTRIC BUS MARKET BY COUNTRY
7.1. Europe Electric Bus Market Revenue and Growth Rate, 2015 - 2026 ($Million)
7.2. Europe Electric Bus Market Revenue Share Comparison, 2015 & 2026 (%)
7.3. UK
7.3.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
7.3.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
7.4. Germany
7.4.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
7.4.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
7.5. France
7.5.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
7.5.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
7.6. Spain
7.6.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
7.6.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
7.7. Rest of Europe
7.7.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
7.7.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
CHAPTER 8. ASIA-PACIFIC ELECTRIC BUS MARKET BY COUNTRY
8.1. Asia-Pacific Electric Bus Market Revenue and Growth Rate, 2015 - 2026 ($Million)
8.2. Asia-Pacific Electric Bus Market Revenue Share Comparison, 2015 & 2026 (%)
8.3. China
8.3.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
8.3.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
8.4. Japan
8.4.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
8.4.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
8.5. India
8.5.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
8.5.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
8.6. Australia
8.6.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
8.6.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
8.7. South Korea
8.7.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
8.7.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
8.8. Rest of Asia-Pacific
8.8.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
8.8.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
CHAPTER 9. LATIN AMERICA ELECTRIC BUS MARKET BY COUNTRY
9.1. Latin America Electric Bus Market Revenue and Growth Rate, 2015 - 2026 ($Million)
9.2. Latin America Electric Bus Market Revenue Share Comparison, 2015 & 2026 (%)
9.3. Brazil
9.3.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
9.3.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
9.4. Mexico
9.4.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
9.4.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
9.5. Rest of Latin America
9.5.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
9.5.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
CHAPTER 10. MIDDLE EAST & AFRICA ELECTRIC BUS MARKET BY COUNTRY
10.1. Middle East & Africa Electric Bus Market Revenue and Growth Rate, 2015 - 2026 ($Million)
10.2. Middle East& Africa Electric Bus Market Revenue Share Comparison, 2015 & 2026 (%)
10.3. GCC
10.3.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
10.3.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
10.4. South Africa
10.4.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
10.4.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
10.5. Rest of Middle East & Africa
10.5.1. Market Revenue and Forecast By Vehicle Type, 2015 - 2026 ($Million)
10.5.2. Market Revenue and Forecast By Consumer, 2015 - 2026 ($Million)
CHAPTER 11. COMPANY PROFILE
11.1. VDL Groep
11.1.1. Company Snapshot
11.1.2. Overview
11.1.3. Financial Overview
11.1.4. Product Portfolio
11.1.5. Key Developments
11.1.6. Strategies
11.2. Yutong
11.2.1. Company Snapshot
11.2.2. Overview
11.2.3. Financial Overview
11.2.4. Product Portfolio
11.2.5. Key Developments
11.2.6. Strategies
11.3. BYD
11.3.1. Company Snapshot
11.3.2. Overview
11.3.3. Financial Overview
11.3.4. Product Portfolio
11.3.5. Key Developments
11.3.6. Strategies
11.4. Proterra
11.4.1. Company Snapshot
11.4.2. Overview
11.4.3. Financial Overview
11.4.4. Product Portfolio
11.4.5. Key Developments
11.4.6. Strategies
11.5. AB Volvo
11.5.1. Company Snapshot
11.5.2. Overview
11.5.3. Financial Overview
11.5.4. Product Portfolio
11.5.5. Key Developments
11.5.6. Strategies
11.6. Others
11.6.1. Company Snapshot
11.6.2. Overview
11.6.3. Financial Overview
11.6.4. Product Portfolio
11.6.5. Key Developments
11.6.6. Strategies
CHAPTER 12. RESEARCH APPROACH
12.1. Research Methodology
12.1.1. Initial Data Search
12.1.2. Secondary Research
12.1.3. Primary Research
12.2. Assumptions and Scope
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