Electric Bus Market : Global Size, Share, Trends, Development, Growth Analysis and Demand Forecast to 2025

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Global Electric Bus Market to Witness 33.5 CAGR
during 2017 2025
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Global Electric Bus Market
According to a new market research report Global
Electric Bus Market Size, Share, Development,
Growth and Demand Forecast to 2025 - Industry
Insights by Technology (Pure Electric, Parallel
Hybrid, Series Parallel Hybrid, and Series
Hybrid), by Size (Above 10 Meters, and Below 10
Meters) published by PS Market Research, the
global electric bus market is expected to witness
double digit growth during 2017 - 2025. Access
Report Description https//www.psmarketresearch.c
om/market-analysis/electric-bus-market
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Global Electric Bus Market
Global electric bus market to witness a CAGR of
33.5 during 2017 2025
The study suggests that low existing penetration
of electric buses in the global fleet is the key
reason for high growth rate of this market. The
policy makers of various countries are focusing
on developing public transit infrastructure with
no or low pollution to tackle the air pollutant
emissions, mainly in the densely-populated cities
and mega-cities. This has been impelling the bus
owners, including transit agencies, to make their
fleet electric. This is consequently propelling
the electric bus demand globally.
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Global Electric Bus Market
Insights on market segments
Based on our analysis, the market for pure
electric bus represented highest shipments of the
global electric bus market in 2016. The growth in
market for series hybrid bus is likely to topple
down during the forecast period. Public
transports are one of the pocket friendly means
of travelling short to medium distances however,
they are one of the major reasons for increasing
pollution. The emergence of electric bus as a
solution to curb this issue is therefore being
welcomed by several transit agencies globally,
that support greener transportation. The global
sales of above 10 meter bus is expected to grow
at a higher rate as compared to those below 10
meter, during the forecast period.
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Global Electric Bus Market
Asia-Pacific to remain the largest market
throughout the forecast period
Owing to high anticipated growth in market for
electric bus in Asia-Pacific, the region is
expected to continue being the largest electric
bus market during the forecast period. China has
been playing a pivotal role in the increasing
electric bus market in Asia-Pacific. The Indian
market has also good growth prospects, owing to
several government initiatives being
undertaken. The North American and European
electric bus market are also expected to register
a growth of above 30 during the forecast period.
Rest of the World, comprising Middle-East and
Africa and Latin America, is expected to register
the fastest growth in this market during the
forecast period. The major electric bus markets
in Asia-Pacific include China and India, whereas
in North America, the U.S. has been the largest
market. The U.K., the Netherlands, France, and
Germany accounted for largest shipments in
Europe, while Brazil was the major market in Rest
of the World.
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Global Electric Bus Market
Rising concerns about GHG emission have been the
key growth driver
High emission of greenhouse gases (GHG) has been
one of the burning issues for environmentalists,
governments and the common masses, across the
world. Vehicular emission has been observed to be
among the key factors for GHG emission. Several
initiatives have been taken and a number of
related regulations have also been issued. The
gradual replacement of gasoline and petrol
powered vehicles with electric vehicles has
become a prime agenda for several governments
across the globe. The long-term cost benefits in
using electric buses over the conventional buses,
have been encouraging several transit agencies to
increase the deployment of the former, in their
fleet. Supportive government incentives are
further encouraging the replacement of the
existing buses with the greener transportation
solutions. These factors have been gaining
attention of several venture capitalists, who are
becoming more inclined towards investing in the
technology and gaining mutual benefit along with
the electric bus manufacturers.
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Global Electric Bus Market
Emerging economies to offer growth opportunity to
the electric bus market
China was among the earliest adopters of electric
vehicles (EV) in the world. The country has been
aiming to increase the number of electric
vehicles. In 2013, the Chinese government offered
80,000 as subsidy on the purchase of every
electric bus. Government of China has encouraged
the adoption of electric buses for public transit
in several other ways. Potevio New Energy Co.
Ltd., a state-owned company in China, built 57
charging stations in Shenzhen. The city owns the
world's largest urban electric vehicle power
supply network. The company is also providing
financial incentives for the purchase of electric
buses in Shenzhen. In 2016, Shenzhen city in
China had 4,887 pure electric buses. Department
of Heavy Industries (DHI) launched Faster
Adaptation and Manufacturing of Electric Vehicles
(FAME) in 2015 to encourage the manufacturing of
hybrid and electric vehicles in India. Under
FAME, the government will be investing INR 8
billion (123 million) in electric mobility based
initiatives. Under the governments National
Electric Mobility Mission Plan (NEMMP) 2020, the
government of India will be focusing on
accelerating the introduction of electric
vehicles in India. This is expected to augment
the electric bus sales in the country.
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Global Electric Bus Market
Electric bus manufacturers have been enhancing
their portfolio
Several companies operating in electric bus
market have been expanding their market at a
global level. Solaris Bus and Coach S.A. launched
articulated electric bus Urbino 18 in 2014. In
2014, Proterra launched the second generation
40-foot electric transit bus. In 2015, it
introduced a 35-foot Catalyst electric bus.
EBUSCO launched EBUSCO 2.0, a new product within
the companys electric bus portfolio, during the
same year. In 2014, Ashok Leyland launched its
Optare electric bus in India, while in 2016, the
company unveiled its Circuit series electric bus
however, it still awaits its commercialization.
In January 2017, Tata Motors launched a pure
electric and a hybrid electric bus.
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Global Electric Bus Market
Consolidated market structure
The global electric bus market has a consolidated
structure, where the top three players held a
majority share in 2016. In the recent past,
product launch, and orders and contracts has been
the major recent activities in the global
electrical bus market. BYD Company Ltd., electric
vehicle manufacturer based in China, has been the
forerunner in both product launches, and orders
and contracts. Some of the major companies
operating in the global electric bus market
include Yutong Group, AB Volvo, Shenzhen
Wuzhoulong, BYD, King Long, Proterra, Daimler,
Solaris, Zhongtong, Ebusco, Alexander Dennis, and
Ashok Leyland.
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Global Electric Bus Market
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lectric-bus-market/report-sample
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