Global Electric Bus Market Trends, Size, Forecast - 2019-2025

The global electric bus market is estimated to grow at a CAGR of around 17% during the forecast period. The major factors contributing to the growth of the market include the government of the major countries is highly investing to reduce the emission of toxic gases in the environment. Therefore, the governments of different countries have implemented strict emission rules and regulations. These regulations are influencing the growth of the electric bus market. Even the governments of major countries are adopting electric buses in their cities as a step toward making a green environment. Electric buses are efficient and do not emit harmful substances.

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As per the International Energy Agency (IEA), the total electric bus sold in 2018 was 92,000 units with the total electric bus stock reached to 460000. China covers 99% of the electric bus market whereas India, Europe, and Latin America had shown growth in the procurement of the electric buses. The reduction in the prices of lithium batteries in 2018 by 18% from 2017 is another driving factor for the market to grow as batteries are the major cost components in the electric buses.

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Global Electric Bus Market Segmentation

By Bus Type
• Hybrid Electric Bus
• Fuel Cell Electric Bus
• Battery Electric Bus

By Battery Type
• Lithium-ion batteries
• NiMH Batteries
• Others

By End-User
• Government
• Fleet Owner

Regional Analysis

• North America
o United States
o Canada

• Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe

• Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific

• Rest of the World

Company Profiles
• AB Volvo
• Allison Transmission, Inc.
• Anhui Ankai Automobiles Co. Ltd
• Ashok Leyland Corp.
• Avass Group of Companies
• BlueBird Corp.
• BYD Co. Ltd.
• Daimler AG
• Ebusco B.V.
• Ekova Electric A.S.

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This release was published on openPR.