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Brazil Electric Bus Market by Technology (Pure Electric, Parallel Hybrid, Series Parallel Hybrid, and Series Hybrid), by Size (Above 10 Meters, and Below 10 Meters)

Brazil Electric Bus Market

Brazil Electric Bus Market

Electric bus market in Brazil registered a CAGR of 212.7% during 2013 – 2016, recording a shipment of over 2,000 units in 2016. The market in Brazil is currently in its nascent phase, though it is expected to grow significantly after 2017. The growth of this market in Brazil is chiefly attributed to the growing demand to reduce dependency on fossil fuels.

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The market in the country is mainly driven by factors such as rising focus on charging infrastructure. Present charging infrastructure in the country is focused only around Sao Paulo and Rio de Janeiro, though it is projected to strengthen across other key states, namely, Pernambuco, Sergipe, and Ceara. The roadblocks to the growth of the market include inadequate judicial support, strong disagreement from pro-Ethanol groups, limited charging infrastructure, and high initial procurement cost of electric bus.

Brazil has been the electric bus market in Latin America. The country produces more than 85% of its electricity from renewable sources and is dedicated to tackle environmental change by proactively reducing greenhouse gas (GHG) footprints and endorsing new sources of renewable energy. Unlike developed economies or even emerging markets, the Brazilian government offers very few incentives for electric bus adoption.

Several initiatives have been taken to negate the obstacles towards the acceptance of electric buses in the country. Though, such initiatives are offering significant push to propel the market growth, but they are not enough to overcome the hindrances completely. Scarcity of supporting infrastructure and high cost of electric bus constitute large barriers to adoption.

To support the Brazilian electric bus market, the government of the country announced to support the market development in the country by exempting import tax. It highlights that the impact of tax burdens on the Brazilian market will only be for shorter period of time.

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Players in the Brazilian electric bus market is more focused on enhancing their product and innovating new products through various strategic approaches. Various international players are also paving the way for electric vehicles in Brazil. For instance, BYD Company Limited, announced to expand its Brazilian operations with new PV solar panel and electric bus chassis production.

About P&S Market Research

P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.

As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.

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