Electric Bus Market with a growing CAGR of 25% during the forecast period| Key Players- DAIMLER, NANJING JIAYUAN EV, IVECO, ANHUI ANKAI AUTOMOBILE, RYOBI BUS, VOLVO, amongst others

Market Analysis:

Asia-Pacific is leading the market
With increased government initiatives in countries like India, China and Japan, Asia-Pacific is leading the global electric bus market. The growth of the global electric bus market is attributed to the rising fuel prices and increased environmental concerns.

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Though the electrification of public transport buses is a viable way of controlling vehicle emissions, the high cost of the electric buses is hindering the market from growing at a further faster rate. Also, the fact that the electric drive trains and the battery power sources are in the nascent stages of development is slowing the market which has potential the potential to grow at an explosive rate. The time taking charging process of the vehicles along with the small range makes the operators reluctant to change the existing combustion buses to electric buses. Environmental concerns have resulted in a transformation of the transportation industry from the fossil fuel powered-engines to electric drive trains. Though the electric vehicles were thought as an impractical replacement for the combustion engines, the rate at which the electric vehicle market is growing shows that the transformation is happening at a rate far faster than expected.

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Market Segments:
Electric Bus Market is segmented by:
1. Vehicle Type: Battery Electric Bus, Plug-in-hybrid Electric Bus
2. Consumer Segment: Government, Fleet Owners
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• March 2018: FlixBus, plans to expand its low-cost service and test all-electric bus routes, aiming to become a pioneer in a more sustainable form of intercity transit.
• March 2018: GIL becomes the first company to have achieved this milestone u2014 of crossing 1,00,000 km run for electric buses in India.

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