Market Research Report
Published: April 1, 2021
Global Industry Analysts, Inc.
Content info: 270 Pages
Delivery time: 1-2 business days
Global Electric Buses Market to Reach 609.6 Thousand Units by 2027
Amid the COVID-19 crisis, the global market for Electric Buses estimated at 132.8 Thousand Units in the year 2020, is projected to reach a revised size of 609.6 Thousand Units by 2027, growing at a CAGR of 24.3% over the analysis period 2020-2027. BEV, one of the segments analyzed in the report, is projected to record a 26.6% CAGR and reach 329.8 Thousand Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the PHEV segment is readjusted to a revised 23.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at 39.8 Thousand Units, While China is Forecast to Grow at 23.6% CAGR
The Electric Buses market in the U.S. is estimated at 39.8 Thousand Units in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 104.7 Thousand Units by the year 2027 trailing a CAGR of 23.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.9% and 20.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 16.8% CAGR.
FCEV Segment to Record 20.2% CAGR
In the global FCEV segment, USA, Canada, Japan, China and Europe will drive the 20.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of 23.6 Thousand Units in the year 2020 will reach a projected size of 85.7 Thousand Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 71 Thousand Units by the year 2027.
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