Market Research Report
Electric Bus Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||949391|
Delivery time: 2-3 business days
|Electric Bus Market 2019-2025|
|Published: May 12, 2020||Content info:||
Electric Bus Market Size, Share & Trend Analysis Report, By Bus Type (Hybrid Electric Bus, Fuel Cell Electric Bus, and Battery Electric Bus), By Battery Type (Li-ion, NiMH and Others), By End-User (Government and fleet Owner) and Forecast Period, 2019-2025
The global electric bus market is estimated to grow significantly during the forecast period. The major factor influencing market growth includes the increase in environmental concern due to increasing air pollution across the globe. Every country is facing pollution problems and deteriorated air quality issues. To deal with the pollution, governments of different countries had implemented several stringent rules and regulations to meet the emission standards. It encouraged the public as well as commercial transit to adopt electric buses in the city. The growing infrastructure for charging electric buses also encourages adopting electric buses, hence driving the growth of the market.
According to the world economic forum, Jakarta, the largest bus system across the globe, planning to adopt electric buses in their cities. Jakarta had started testing electric buses in order to replace diesel buses in the city. This shows the immense opportunity for the electric bus market to grow. Further, in July 2019, the inter-ministerial committee for an electric vehicle of the Indian government sanctioned 5,645 electric buses for intracity operation in 65 cities. It will boost the market with the intention of a clean, quiet, and green city.
Geographically, the global electric bus market is classified into North America, Europe, Asia-Pacific, and RoW. Asia-Pacific has witnessed the highest market share in 2018 owing to the major contribution of China with more than 70% of the total electric buses in China only. The stringent government regulations in Asia-Pacific countries such as India, China, and Japan regarding emissions have led to the electric bus market in this region. However, North-America is estimated to witness significant growth during the forecast period as the US is more focused on adopting electric buses in schools and introduced various schemes to encourage electric bus adoption.
The major players in the global electric bus market include BYD Co. Ltd., NFI Group, Inc., Ashok Leyland Corp, Proterra Inc; AB Volvo, Zhengzhou Yutong Group Co. Ltd; and Daimler AG. The strategies followed by the market players include mergers and acquisitions, partnerships and collaborations and geographical expansion to expand market share across the globe. For instance, in September 2019, Daimler Truck and Buses and battery manufacturer Contemporary Amperex Technology Co. Ltd. (CATL) signed agreement, according to it, CATL will supply lithium-ion battery cell for electric buses and trucks to Daimler AG.
The market study of the global electric bus market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report is intended for electric bus manufacturers, battery manufacturers, automobile part manufacturers, and government agencies for overall market analysis and competitive analysis. The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.
The Report Covers: