Electric Bus Market to be the Most Ultimate Segment Through 2020, Solaris Bus & Coach S.A., Zhongtong Bus & Holding Co., Ltd., Ashok Leyland, Ltd., Shenzhen Wuzhoulong Motors Co., Ltd.
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Governments of various countries are focusing on no or low-pollution transportation systems to tackle rising pollution. This, in turn, is driving the electric bus market. Based on drive system, electric buses are categorized as pure electric, hybrid electric, and plug-in hybrid. Most of the electric buses running worldwide are hybrid electric due to their low cost as compared to its other electric counterparts. However, developed countries are focusing on increasing the number of pure electric buses in their fleets.
The global electric bus market is thriving mainly due to growing environmental concerns of the public and various governments. However, among developing countries, China is the only country taking concrete steps to curb vehicular pollution with the introduction of large number of electric buses. A high cost of electric buses is a key barrier for this industry. However, unstable crude oil prices and increasing focus of the transit agencies on minimizing operational costs are expected to lower the impact of the cost factor in the long term. In recent times, certain product launches by companies indicate the increasing level of competition in the industry. The investments of companies and transit agencies are being backed by funding from venture capitalists and governments. This is favoring the growth of electric bus market.
Unstable fuel prices and depleting crude oil reserves are influencing transport departments and transit agencies globally to increase the number of alternate and new energy vehicles. Some of the transit agencies in developed countries are considering long-term benefits as opposed to short-term costs while purchasing buses. Electric buses require high initial investment. However, their operational cost is significantly low as compared to that of conventional buses, as electricity is cheaper than diesel.
Air pollution caused by vehicles has been emerging as a serious concern for governments across the globe. This, in turn, is driving demand for public transport facilities with lower emissions. According to the World Health Organization (WHO), air pollution causes about 100,000 deaths every year in Europe, reducing life expectancy by an average of one year. Considering the negative impact of pollution on people, governments around the world are working to find solutions to reduce pollution levels. European countries such as France, the U.K., and Germany are emerging as key markets for electric and hybrid electric vehicles.
The key companies operating in the global electric bus market include BYD Company Limited, Proterra, AB Volvo, Daimler AG, Solaris Bus & Coach S.A., Zhongtong Bus & Holding Co., Ltd, Ashok Leyland, EBUSCO, Alexander Dennis Limited (ADL), and Shenzhen Wuzhoulong Motors Co., Ltd.
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Table Of Content
Chapter 1 Preface
1.1 Research Methodology
1.1.1 Regions covered in the report
Chapter 2 Markt Synopsis
Chapter 3 Porter’s Five Forces Analysis
3.1 Bargaining Power of Buyers
3.2 Bargaining Power of Suppliers
3.3 Threat of New Entrants
3.4 Threat of Substitutes
3.5 Rivalry Within the Industry
Chapter 4 Industry Overview
4.1 Market Drivers
4.1.1 Growing environmental concerns
4.1.2 Transit agencies’ inclination towards sustainable public fleet systems
4.1.3 Rise in external Investments, funding, and public-private partnerships
4.2 Impact Analysis for Drivers
4.3 Market Restraints
4.3.1 High purchasing costs of electric buses
4.3.2 Popularity of natural gas-fuelled buses
4.4 Impact Analysis for Restraints
4.5 Opportunities and Trends
4.5.1 China is presenting significant growth opportunities for the electric bus market
4.5.2 Launch of several new products in the market
Chapter 5 Market Size and Forecast, by Region
5.1 North America
5.1.1 The U.S.
5.2 Europe 19
5.2.1 The U.K.
5.2.2 Germany and Spain
5.3 Asia Pacific
5.3.3 South Korea
5.4 Rest of the World
5.4.3 The Middle East
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