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Global Electric Bus Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Custom Market Insights
Electric Bus Market
The report examines the Electric Bus market's drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Electric Bus market.
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The Electric Bus Market: Overview
Electric buses, often known as e-buses, are vehicles that run on electricity rather than a conventional internal combustion engine (ICE). The E-bus is propelled instead by an internal electric motor that is powered by one or more internal batteries. Being pollution-free, electric buses are better for the environment. They are also less expensive than standard gasoline/diesel buses.
The Electric Bus Market: Growth Drivers
• Rising demand for zero-emission vehicles
The primary industry responsible for greenhouse gas (GHG) emissions into the atmosphere is transportation. According to the United Nations Environment Program, the transportation sector, which significantly contributes to local and urban air pollution, is responsible for around one-fourth of all energy-related greenhouse gas (GHG) emissions (UNEP).
According to the US Environmental Protection Agency, buses created 1.1% of total GHG emissions from the transportation sector in 2019. (EPA). Moreover, automobile emissions are alone to blame for 29% of the ozone-depleting chemicals that harm the ecosystem and cause air pollution. As a result, many governments throughout the world have begun putting electric buses into service to increase the sustainability and fuel efficiency of urban public transit.
• Government support for converting public transit to electricity
To further the goal of reducing greenhouse gas (GHG) emissions and improving the quality of the air in cities, governments all over the world have provided sizeable financial incentives to encourage shared mobility and environmentally friendly transportation. Governments all over the world have created enticing schemes and programs to encourage the usage of electric buses.
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The usage of electric buses in cities has been promoted by governments in industrialized countries through the opening of a bidding process. For instance, as of March 2021, 3,884 hybrid buses, 485 electric buses, and two hydrogen buses were operating out of a total bus fleet of 9,068 in London. There are plans to raise this number to 9,200 electric buses by 2037.
The Electric Bus Market: Key Insights
• Our research analyst's analysis indicates that the market for electric buses would expand annually at a CAGR of about 22% over the forecast period (2022-2030).
• The market for electric buses was estimated to be worth roughly USD 29 billion in 2021, and it is anticipated that it will be worth USD 107 billion by 2030. The market is expected to grow significantly over the coming years as a result of a number of driving factors.
• The Electric Bus market research provides a thorough analysis of the current market along with estimates for the years 2020-2030 to help identify opportunities to capitalize on the current industry.
• The analysis provides information on the key market drivers, obstacles, opportunities, and results.
• The SWOT analysis and Porter's Five Forces model are discussed in further detail in the paper.
Press Release For Electric Bus Market: https://www.custommarketinsights.com/press-releases/electric-bus-market-share/
The Electric Bus Market: Regional Landscape
The Asia-Pacific region is predicted to have a sizable market share throughout the projected period due to increasing domestic demand supported by national sales targets, favorable laws, helpful subsidies, and local air quality targets. China, one of the market's leading players, produces 98% of the electric buses used worldwide. Over the predicted period, it is expected that China will continue to hold the top spot.
The Electric Bus Market: Prominent Players
AB Volvo
Shenzhen Wuzhoulong Motors Co. Ltd
Ebusco
King Long United Automotive Industry Co. Ltd
BYD Company Ltd
Daimler AG
Proterra Inc
CAF Group (Solaris Bus & Coach)
NFI Group
Van Hool NV
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The Electric Bus Market: Segments
By Battery
Lithium Nickel Manganese Cobalt Oxide
Lithium Iron Phosphate
By Vehicle Type
Battery Electric Vehicle
Fuel Cell Electric Vehicle
Plug-in Hybrid Electric Vehicle
By End-use
Private
Public
By Application
Intercity
Intracity
The Electric Bus Market: Regions
North America
The U.S.
Canada
Mexico
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Check Out Some of Our Other Reports:
Global Automotive HVAC Market: https://www.custommarketinsights.com/report/automotive-hvac-market/
Global Electric Vehicle Actuator Market: https://www.custommarketinsights.com/report/electric-vehicle-actuator-market/
Global Electric Vehicle Supply Equipment Market: https://www.custommarketinsights.com/report/electric-vehicle-supply-equipment-market/
Global Hybrid Vehicle Market: https://www.custommarketinsights.com/report/hybrid-vehicle-market/
Global Smart Electric Drive Market: https://www.custommarketinsights.com/report/smart-electric-drive-market/
CMI Consulting LLC
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Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
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