Global Electric Bus Market Recent Trends, In-depth Analysis, Market Size Research Report Forecast up to 2027
Industry Trends
Electric buses, which primarily operate through the consumption of electrical energy, were considered within the scope of the industry. Electric busses are operated in two modes, electric-only and hybrid (the primary fuel may be electrical energy, thus consuming less petroleum), which can be recharged from a standard electrical outlet.The growth of the electric bus market has been due to growing concerns about fossil fuel depletion and environmental pollution. To fix the above-mentioned concerns, many governments around the world have introduced changes in public transportation systems by substituting zero-emission electric busses for heavy-duty diesel and gasoline-run busses. Increasing government focus on promoting mass transit electrification solutions and government support are driving the growth of the electric bus market.
The adoption of electric buses for public transport has been significantly promoted by transit agencies across various countries. Owing to their ongoing purchase orders for e-buses, Asia-Pacific and North America are likely to show high adoption rates of battery electric buses during the forecast period among regions. In North America, for instance, among several U.S. states, California has been identified as the primary state for the use of electric buses, and its transportation authorities have agreed to operate 357 electric buses, including the purchased and ordered buses. In addition, in 2018, mayors from Sacramento, Los Angeles, San Francisco, San Jose and Oakland across California signed a letter to the California Air Resources Board (CARB) urging the transit agency to speed up the electric bus deployment. Meanwhile, Olectr-BYD has deployed nearly 100 electric busses in Asia-Pacific, particularly India, as of 2018, and is expected to continue to increase the number of its e-busses in the country over the forecast period.
In the Asia-Pacific region, China is the world's largest producer and consumer of e-buses. National sales goals, favorable regulations, supportive subsidies and municipal air-quality targets have helped domestic demand in the region. Sales of battery electric buses had decreased in 2017 and 2018, however, due to changes in policies and incentives between the country's national and local governments. With more than 30 Chinese cities planning to achieve 100% electrified public transit by 2020, including Guangzhou, Zhuhai, Dongguan, Foshan, and Zhongshan in the Pearl River Delta, along with Nanjing, Hangzhou, Shaanxi, and Shandong, China may continue to witness growth in the adoption of electric buses. As of December 2018, almost 16,000 electric buses were operated in one of the Chinese megacities, Shenzhen.
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Electric Bus Market Revenue & Forecast, (US$ Million), 2015 – 2027
Competitive Landscape
The report provides both, qualitative and quantitative research of electric bus market, as well as provides comprehensive insights and development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analysed in the report. For each company, the report studies their global presence, competitors, service offerings and specification amongst others.
The major market players include: King Long United Automotive Industry Co. Ltd., BYD Company Limited, Zhengzhou Yutong Group Co. Ltd., Proterra Inc., AB Volvo, Solaris Bus & Coach S.A., Daimler AG, Zhongtong Bus & Holding Co. Ltd., EBUSCO, and Ashok Leyland Ltd.
The global trend in the electric bus market is undergoing a major phase of development and is expected to see the entry of new market players over the forecast period. Governments of developed countries and numerous developing countries focus on technological advances–not only to address the green environment issue but also to provide advanced customer service.
Electric Bus Market:
By Vehicle Type: Battery Electric Bus, Plug-in Hybrid Electric Bus
By Consumer: Government, Fleet Operators
By Geography:
North America: (U.S, Canada, Mexico, Rest of North America)
Europe: (France, The UK, Spain, Germany, Italy)
Nordic Countries: (Denmark, Finland, Iceland, Sweden, Norway)
Benelux Union: (Belgium, The Netherlands, Luxembourg, Rest of Europe)
Asia Pacific:(China, Japan, India, New Zealand, Australia, South Korea)
Southeast Asia: (Indonesia, Thailand, Singapore)
Rest of Southeast Asia
Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)
Latin America: (Brazil, Argentina, Rest of Latina America)
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