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Market Research Report

India Electric Bus Market by Type (BEB, HEB), by Length (10m), by Battery (LFP, NMC), by Region (South, East, West, North) - Market Size, Share, Development, Growth, and Demand Forecast, 2017-2025

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India Electric Bus Market by Type (BEB, HEB), by Length (10m), by Battery (LFP, NMC), by Region (South, East, West, North) - Market Size, Share, Development, Growth, and Demand Forecast, 2017-2025
Published: June 1, 2018 Content info: 79 Pages
Description

The Indian electric bus market is projected to reach 4,056 units by 2025, the growth of the market is majorly driven by the increasing government support for electric vehicles and falling battery prices, according to P&S Market Research.

Insights into market segments

On the basis of vehicle type, the Indian electric bus market is segmented into battery electric bus (BEB) and hybrid electric bus (HEB). Among these, in terms of volume, the HEB category accounted for more than 85% share in the electric bus industry in 2017. However, the fastest growth during the forecast period is expected from the BEB category, owing to higher government support for BEBs as they are eco-friendlier than HEBs.

Based on battery, the Indian electric bus market is segmented into lithium-iron-phosphate (LFP), Lithium Nickel Manganese Cobalt Oxide (NMC) batteries, and others. Among these, the LFP category recorded the highest volume sales, crossing 80% in 2017. However, the fastest growth during the forecast period is expected from the NMC category, owing to its declining price in addition to the higher energy density and safety levels that it offers.

Declining battery prices and rising operational efficiencies poised to benefit the market

The mark-up price of electric bus is primarily decided by the battery the manufacturers use in it. In recent years, battery prices have been falling due to advancements in the technology adopted, thus, allowing the bus manufacturers to keep the price under check. With the passage of time, the Indian electric bus market is expected to grow in terms of operational efficiencies and development of infrastructure, thereby driving the adoption of these during the forecast period.

Government initiatives driving the market

The Indian electric bus market is primarily driven by the strict government emission norms and regulations and support in the form of subsidies and grants. Also, to deal with the growing concerns related to environmental degradation, the government has planned to roll out fleets of electric and hybrid buses and has taken initiatives to encourage electric bus manufacturing within the country. The Ministry of Urban Development of the country recently launched THE Green Urban Transport Scheme (GUTS) with the aim to reduce carbon emissions from the public transport vehicles in the country. The ministry proposed an INR 250 billion grant for developing electric vehicles for public transport.

Competitive Landscape

The key players in the Indian electric bus market are Ashok Leyland Limited, Goldstone Infratech Limited, Tata Motors Limited, JBM Auto Limited, Solaris Bus & Coach SA, BYD Auto Co. Ltd., Zhongtong Auto Co., Optare PLC, Deccan Auto Limited, and Volvo Eicher Commercial Vehicles Limited.

Table of Contents

Table of Content

Chapter 1. Research Background

  • 1.1 Research Objectives
  • 1.2 Market Definition
  • 1.3 Research Scope
    • 1.3.1 Market Segmentation by Type
    • 1.3.2 Market Segmentation by Length
    • 1.3.3 Market Segmentation by Battery
    • 1.3.4 Market Segmentation by Region
    • 1.3.5 Analysis Period
    • 1.3.6 Market Data Reporting Unit
      • 1.3.6.1 Value
      • 1.3.6.2 Volume
  • 1.4 Key Stakeholders

Chapter 2. Research Methodology

  • 2.1 Secondary Research
  • 2.2 Primary Research
    • 2.2.1 Breakdown of Primary Research Respondents
      • 2.2.1.1 By industry participant
      • 2.2.1.2 By region
      • 2.2.1.3 By company type
  • 2.3 Market Size Estimation
  • 2.4 Data Triangulation
  • 2.5 Assumptions for the Study

Chapter 3. India Electric Bus Market Summary

Chapter 4. Introduction

  • 4.1 Definition of Market Segments
    • 4.1.1 By Type
      • 4.1.1.1 BEB
      • 4.1.1.2 HEB
    • 4.1.2 By Length
      • 4.1.2.1 Less than 10 meter
      • 4.1.2.2 More than 10 meter
    • 4.1.3 By Battery
      • 4.1.3.1 LFP
      • 4.1.3.2 NMC
      • 4.1.3.3 Others
  • 4.2 Market Dynamics
    • 4.2.1 Trends
      • 4.2.1.1 Growing collaborations with foreign manufacturers
    • 4.2.2 Drivers
      • 4.2.2.1 Government schemes and regulations
      • 4.2.2.2 Rise in domestic manufacturing of electric buses
      • 4.2.2.3 Rapid urbanization and growing environmental awareness
      • 4.2.2.4 Impact analysis of drivers on market forecast
    • 4.2.3 Restraints
      • 4.2.3.1 Lack of adequate charging infrastructure and related ecosystem
      • 4.2.3.2 High upfront cost of electric buses
      • 4.2.3.3 Impact analysis of restraints on market forecast
    • 4.2.4 Opportunities
      • 4.2.4.1 High growth potential of the market

Chapter 5. Government Policies and Regulations

  • 5.1 NEMMP 2020
    • 5.1.1 FAME Scheme
      • 5.1.1.1 FAME incentives for electric buses
  • 5.2 Urban Green Mobility Scheme 2017

Chapter 6. India Market Size and Forecast

  • 6.1 By Type
  • 6.2 By Length
  • 6.3 By Battery
  • 6.4 By Region

Chapter 7. Competitive Landscape

  • 7.1 Market Share Analysis of Key Players
  • 7.2 Tenders for Procurement of Electric Buses
  • 7.3 Competitive Benchmarking of Key Players
  • 7.4 Strategic Developments of Key Players
    • 7.4.1 Partnerships
    • 7.4.2 Product Launches
    • 7.4.3 Other Developments

Chapter 8. Company Profiles

  • 8.1 Ashok Leyland Limited
    • 8.1.1 Business Overview
    • 8.1.2 Product and Service Offerings
    • 8.1.3 Key Financial Summary
  • 8.2 JBM Auto Limited
    • 8.2.1 Business Overview
    • 8.2.2 Product and Service Offerings
    • 8.2.3 Key Financial Summary
  • 8.3 Solaris Bus & Coach S.A.
    • 8.3.1 Business Overview
    • 8.3.2 Product and Service Offerings
  • 8.4 Deccan Auto Limited
    • 8.4.1 Business Overview
    • 8.4.2 Product and Service Offerings
  • 8.5 Goldstone Infratech Limited
    • 8.5.1 Business Overview
    • 8.5.2 Product and Service Offerings
    • 8.5.3 Key Financial Summary
  • 8.6 Tata Motors Limited
    • 8.6.1 Business Overview
    • 8.6.2 Product and Service Offerings
    • 8.6.3 Key Financial Summary
  • 8.7 Zhongtong Bus & Holding Company Limited
    • 8.7.1 Business Overview
    • 8.7.2 Product and Service Offerings
  • 8.8 BYD Company Limited
    • 8.8.1 Business Overview
    • 8.8.2 Product and Service Offerings
    • 8.8.3 Key Financial Summary
  • 8.9 VE Commercial Vehicles Limited
    • 8.9.1 Business Overview
    • 8.9.2 Product and Service Offerings

Chapter 9. Appendix

  • 9.1 Abbreviations
  • 9.2 Sources and References
  • 9.3 Related Reports

LIST OF TABLES

  • TABLE 1 ANALYSIS PERIOD OF THE STUDY
  • TABLE 2 TIE-UPS BETWEEN DOMESTIC AND FOREIGN PLAYERS IN THE INDIAN ELECTRIC BUS MARKET
  • TABLE 3 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
  • TABLE 4 PRICE COMPARISON OF BEB AND HEB WITH DIESEL AND CNG BUSES IN INDIA
  • TABLE 5 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS
  • TABLE 6 FUND ALLOCATION IN FAME PHASE I
  • TABLE 7 INCENTIVES FOR DIFFERENT TYPES OF ELECTRIC VEHICLES
  • TABLE 8 FAME INCENTIVE CRITERION FOR BUSES, BASED ON FUEL CONSUMPTION
  • TABLE 9 FAME INCENTIVE CRITERION FOR BUSES, BASED ON ELECTRIC RANGE
  • TABLE 10 FAME INCENTIVE CRITERION FOR BUSES, BASED ON ELECTRIC ENERGY CONSUMPTION
  • TABLE 11 NEW FAME INCENTIVE CRITERION FOR BUSES, BASED ON ELECTRIC ENERGY ONSUMPTION
  • TABLE 12 FAME INCENTIVE CRITERION FOR BEB, BASED ON ELECTRIC ENERGY CONSUMPTION
  • TABLE 13 INDIA ELECTRIC BUS MARKET, BY TYPE, UNITS (2017-2025)
  • TABLE 14 INDIA ELECTRIC BUS MARKET, BY TYPE, $M (2017-2025)
  • TABLE 15 INDIA ELECTRIC BUS MARKET, BY LENGTH, UNITS (2017-2025)
  • TABLE 16 INDIA ELECTRIC BUS MARKET, BY LENGTH, $M (2017-2025)
  • TABLE 17 INDIA ELECTRIC BUS MARKET, BY BATTERY, UNITS (2017-2025)
  • TABLE 18 INDIA ELECTRIC BUS MARKET, BY BATTERY, $M (2017-2025)
  • TABLE 19 INDIA ELECTRIC BUS MARKET, BY REGION, UNITS (2017-2025)
  • TABLE 20 INDIA ELECTRIC BUS MARKET, BY REGION, $M (2017-2025)
  • TABLE 21 TENDERS FOR ELECTRIC BUS PROCUREMENT IN INDIA (2018)
  • TABLE 22 COMPETITIVE BENCHMARKING OF KEY PLAYERS
  • TABLE 23 ASHOK LEYLAND LIMITED - AT A GLANCE
  • TABLE 24 ASHOK LEYLAND LIMITED - KEY FINANCIAL SUMMARY
  • TABLE 25 JBM AUTO LIMITED - AT A GLANCE
  • TABLE 26 JBM AUTO LIMITED - KEY FINANCIAL SUMMARY
  • TABLE 27 SOLARIS BUS & COACH S.A. - AT A GLANCE
  • TABLE 28 DECCAN AUTO LIMITED - AT A GLANCE
  • TABLE 29 GOLDSTONE INFRATECH LIMITED - AT A GLANCE
  • TABLE 30 GOLDSTONE INFRATECH LIMITED - KEY FINANCIAL SUMMARY
  • TABLE 31 TATA MOTORS LIMITED - AT A GLANCE
  • TABLE 32 TATA MOTORS LIMITED - KEY FINANCIAL SUMMARY
  • TABLE 33 ZHONGTONG BUS & HOLDING COMPANY LIMITED - AT A GLANCE
  • TABLE 34 BYD COMPANY LIMITED - AT A GLANCE
  • TABLE 35 VE COMMERCIAL VEHICLES LIMITED - AT A GLANCE

LIST OF FIGURES

  • FIG 1 RESEARCH SCOPE
  • FIG 2 RESEARCH METHODOLOGY
  • FIG 3 REGIONAL SPLIT OF PRIMARY AND SECONDARY RESEARCH
  • FIG 4 BREAKDOWN OF PRIMARY RESEARCH BY INDUSTRY PARTICIPANT
  • FIG 5 BREAKDOWN OF PRIMARY RESEARCH BY REGION
  • FIG 6 BREAKDOWN OF PRIMARY RESEARCH BY COMPANY TYPE
  • FIG 7 DATA TRIANGULATION APPROACH
  • FIG 8 INDIA ELECTRIC BUS MARKET SUMMARY
  • FIG 9 PROPOSED URBAN GREEN MOBILITY SCHEME STRUCTURE
  • FIG 10 INDIA ELECTRIC BUS MARKET, BY TYPE, UNITS (2017-2025)
  • FIG 11 INDIA ELECTRIC BUS MARKET, BY LENGTH, UNITS (2017-2025)
  • FIG 12 INDIA ELECTRIC BUS MARKET, BY BATTERY, UNITS (2017-2025)
  • FIG 13 PERCENTAGE SHARE OF MAJOR PLAYERS IN ELECTRIC BUS, BASED ON TENDER PROCUREMENT (2018)
  • FIG 14 ASHOK LEYLAND LIMITED - REVENUE SPLIT BY SEGMENT (2017)
  • FIG 15 JBM AUTO LIMITED - REVENUE SPLIT BY SEGMENT (2017)
  • FIG 16 BYD COMPANY LIMITED - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2017)
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