Asia Pacific Electric Bus Market To Witness Accelerated Growth by 2027

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Asia Pacific Electric Bus Market To Witness
Accelerated Growth by 2027
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• Asia Pacific Electric Bus Market To Hit USD 49 Bn
  By 2027. Asia Pacific electric bus market share
  is expected to grow at a significant rate as the
  pollution levels in different countries are
  rising at an alarming rate. The number of people
  owning cars and two-wheelers in the region is
  seeing significant growth, thereby increasing the
  need to have cleaner mobility solutions and
  alternative sources of transportation.
• The governments across the region are introducing
  favorable plans to encourage automotive
  manufacturers to produce electric buses. In
  January 2019, the Guangzhou government made
  investments worth over 1.2 billion to install
  around 4,000 charging stations. Moreover,
  electric buses have several advanced features,
  making them a preferred means of transport for
  customers in Asia Pacific.
• The regional authorities have announced tax
  subsidies and other reliefs to encourage the
  production and sale of electric buses. In April
  2020, the Chinese government announced subsidies
  for all new energy automobiles purchased between
  2020-2022. All electric, hydrogen and hybrid
  electric vehicles could get discounts on road and
  registration taxes.
• The COVID-19 pandemic has gravely affected the
  functioning of the Micro, Small, and Medium-sized
  Enterprises (MSMEs) in APAC region. The MSME
  sector is responsible for most of the economic
  activities in the region. Factors, such as the
  severe shortage of raw materials and other
  electric components disrupted the production of
  electric buses in the region.

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• However, as the COVID-19 positive cases are
  reducing, APAC electric bus industry is
  anticipated to pick up pace in the forthcoming
  years. Several travel and cargo restrictions have
  been lifted by the regional governments, thereby
  making it possible to transport the desired
  components for the production of electric buses.
• Based on type, Asia Pacific electric bus market
  forecast will be driven by the sale of FCEV
  buses. These vehicles incur lower operating costs
  as compared to other types of electric buses and
  are easier to maintain. Hydrogen cells for FCEV
  buses are being produced on a large scale as they
  have a higher fuel cell capacity and improve
  battery performance.
• The automakers in APAC region are continuously
  carrying out several research and development
  activities to find out more beneficial properties
  of hydrogen fuel and discover different ways of
  producing it. Hydrogen fuel cells have almost
  zero carbon emissions, greater renewability, and
  efficiency, making them an ideal product to be
  installed in FCEV buses.
• Asia Pacific electric bus industry size from
  100-300 kWh battery capacity is projected to grow
  at a notable rate from 2021-2027. These batteries
  will find high usage in electric buses used for
  intercity travel as they are capable of covering
  distances of nearly 60 to 80 miles.

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Segments of Asia Pacific Electric Bus Market

• Asia Pacific Market, By Battery Capacity
• Below 100 kWh
• 100-300 kWh
• Above 300 kWh
• Asia Pacific Market, By Seating Capacity
• Below 40 seats
• 40-70 seats
• Above 70 seats

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