Exclusive Market Study Estimates that Global Electric Bus Market will Grow at 25.0% CAGR During 2019 – 2023 | By Daimler AG, Anhui Ankai Automobile, BYD, Iveco, Nanjing Jiayuan EV
Overview of the Global Electric Bus Market:
The report spread across 75 pages is an overview of the Global Electric Bus Market. These report study based on the Electric Bus Market. It is a complete overview of the market, covering various aspects prevailing market landscape. It accumulates comprehensive information and research methodologies.
The Global Electric Bus Market with a growing CAGR of 25.0% during the forecast period (2018 - 2023). The growth of the global electric bus market is attributed to the rising fuel prices and increased environmental concerns. Asia-Pacific is leading the global electric bus market with increased government initiatives in countries like India, China and Japan.
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Environmental concerns have resulted in a transformation of the transportation industry from the fossil fuel powered-engines to electric drivetrains. 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. The transformation has not just happened in the smaller passenger vehicle segment but can also be seen in the large commercial vehicles especially buses. Many governments across the world have initiated changes in the public transportation system by replacing the heavy duty diesel and gasoline run buses with zero emission electric buses. This move by the governments has helped the market to grow at a CAGR of nearly 25% and the market is expected to touch a value of USD 90 billion by the end of the year 2023.
Government Plans for Electrification of Public Transportation; The overriding problem of pollution caused especially by automobiles has made governments in many countries to take drastic measures to keep them under control. One such move commonly seen across many countries is the electrification of public transportation. The smoke chugging combustion engine vehicles are being replaced in many countries and many more countries are expected to join the move. China, which has seen the adverse effects of the industrialization, is in the forefront in public transport buses electrification making other markets look minute. The country accounts for more than 90% of the global electric bus stock.
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. The electric buses are nearly 3 to 4 times more than the conventional combustion engines buses and about twice more than the hybrid counterpart. Also, the fact that the electric drivetrains 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.
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Major Key Players:
1 Daimler AG
2 Anhui Ankai Automobile
5 Nanjing Jiayuan EV
6 New Flyer Industries
7 Proterra Inc
8 Ryobi Bus
9 Scannia AB and More……………..
This comprehensive Electric Bus Market research report 2019 – 2023 includes a brief on these trends that can help the businesses operating in the industry to understand the market and strategize for their business expansion accordingly. The research report analyzes the market size, industry share, growth, key segments, CAGR and key drivers.
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Table of Contents:
2 Research Methodology
3 Executive Summary
4 Market Overview and Technology Trends
5 Market Dynamics
6 Global Electric Bus Market By Vehicle Type
7 Global Electric Bus Market -By Consumer Segment
8 Global Electric Bus Market -By Geography
9 Competitive Landscape
10 Company Profiles
11 Future Outlook
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