Electric School Bus Market Size is Projected to Get a Massive Growth: Says IMARC Group

According to the latest report by IMARC Group, "Global Electric School Bus Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027", the global electric school bus market reached a value of US$ XX Million in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027.

An electric school bus is an electric vehicle (EV) that runs on electric power as opposed to conventional school buses, which run on diesel, propane, gasoline, compressed natural gas (CNG), etc. It helps save money on operating costs, creates new jobs in green manufacturing, provides valuable storage for renewable energy through vehicle-to-grid (V2G) technologies, etc. As such, electric buses are widely used by schools to sell excess electricity to utility providers and generate additional revenue.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Electric School Bus Market Trends and Drivers:

The escalating fuel prices and traffic congestion levels across the globe are among the key factors driving the electric school bus market. In addition to this, these buses help connect socially excluded students who are living in far-flung areas with urban educational facilities. This, in turn, is further catalyzing the market growth.

Moreover, as they are operated by professional drivers, buses usually have a lower accident rate when compared to other vehicles, which is also positively influencing the global market. Besides this, the introduction of smart traffic lights (STL) management systems in order to reduce road congestion is acting as another growth-inducing factor.

In line with this, the launch of favorable policies by government bodies aimed at propelling the adoption of electric buses to reduce the emissions of greenhouse (GHGs) gases is also stimulating the market growth. Furthermore, the elevating popularity of concessionary travel bus passes and the rising usage of Big Data solutions to optimize routes, vehicle dispatch times, schedules, etc., are expected to bolster the electric school bus market in the coming years.

Global Electric School Bus Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Beiqi Foton Motor Co. Ltd. (Beijing Automotive Group Co. Ltd.), Blue Bird Corporation, BYD Company Ltd., Collins Bus Corporation (REV Group Inc.), Dominion Energy Inc., Mercedes-Benz Group AG, Navistar International Corporation (Traton Group) and The Lion Electric Company.

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The report has segmented the market on the basis of region, type, capacity design type, sales channel and application.

Breakup by Type:
• Battery Electric School Bus
• Hybrid School Bus

Breakup by Capacity Design Type:
• Type A
• Type C
• Type D

Breakup by Sales Channel:
• Direct Sales
• Distributor

Breakup by Application:
• Preschool Education
• Primary School
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.