Press release
Chinese Electric Bus Market to Witness an 8.6% CAGR during 2018-2025
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According to a report by P&S Intelligence, in 2017, the electric bus sales in China were 104.3 thousand units, which is expected to reach 176.4 thousand units by 2025, growing at an 8.6% CAGR during the forecast period (2018-2025). The three type of electric buses are hybrid electric bus, battery electric bus, and plug-in electric bus. Out of these, the largest demand was created for battery electric buses during 2015-2017 and the situation is projected to remain the same in the coming years as well, which is attributed to the increased government support for these buses. The fastest growth in demand is expected to be witnessed by the plug-in electric buses during the forecast period.
The Chinese government is introducing different subsidy schemes for improving the quality of electric buses. The subsidy scheme that was introduced in 2017 focused extensively on the upgradation of battery technology and performance. Different performance parameters of battery include electric range, energy density, energy efficiency, and fast charging capacity. This increased emphasis of the scheme on battery technology is predicted to encourage manufacturers and original equipment manufacturers to improve the different battery parameters in their products, which will further drive the Chinese electric bus market.
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Competitive Landscape of China Electric Bus Market
The Chinese electric bus market has been shifting toward consolidation due to the revision in the subsidy schemes by the government. In 2017, majority of the market share was held by Zhengzhou Yutong Group Co. Ltd., BYD Co. Ltd., and Zhongtong Bus & Holding Co. Ltd.
In August 2017, Ankai Bus secured an order to supply 400 city buses, worth $104.3 million, to Hefei Public Transport Group. In the same month, the company also delivered 400 city buses worth $81.3 million, including 160 clean-energy powered buses and 240 electric buses.
Some of the other players operating in the Chinese electric bus market are Dongfeng Motor Corp., Liaoning Huanghai Automobile Import & Export Co. Ltd., King Long United Automotive Industry Co. Ltd., and Anhui Ankai Automobile Co. Ltd.
CHINA ELECTRIC BUS MARKET SEGMENTATION
By Type
Battery Electric Bus (BEV)
Plug-in Hybrid Electric Bus (PHEV)
Hybrid Electric Bus (HEV)
By Hybrid Powertrain
Parallel Hybrid
Series Parallel Hybrid
Series Hybrid
By Length
>10m
8m-10m
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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