Press release
Electric School Bus Market Growth, Industry Trends, Size And Demand 2022-2027
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Electric school buses are a type of electric vehicle (EV) that operate quietly, providing drivers with an increased focus on the road. They have significantly lower maintenance costs than conventional school buses that run on diesel, propane, gasoline, or compressed natural gas (CNG). They also help save money on operating costs, create new jobs in green manufacturing and provide valuable storage for renewable energy through vehicle-to-grid (V2G) technologies. Schools widely use these electric buses to sell excess electricity to utility providers, generating additional revenue. As a result, electric school buses find extensive applications in schools across the globe, seeking cost-effective and sustainable transportation options.
What are the growth prospects and trends in the electric school bus industry?
The global electric school bus market is primarily driven by rising demand for school buses that are fuel-efficient and high-performance. Moreover, the surging adoption of electric buses, as it offers numerous benefits, including high voltage and functional safety, cold-weather performance, reliability, and durability, is positively influencing the market growth. Additionally, the escalating demand for electric school buses due to the easy availability of charging infrastructure and electronic components has catalyzed market growth.
Furthermore, several favorable initiatives by governments of numerous countries to promote the use of electric school buses owing to rising air pollution levels are contributing to the market growth. Other factors, including ongoing research and development (R&D) activities, declining costs of lithium-ion (Li-ion) batteries, and rapid urbanization, are also anticipated to create a positive market outlook.
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Electric School Bus Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global electric school bus market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Blue Bird Corporation, BYD Company Ltd., Collins Bus Corporation (REV Group Inc.), Dominion Energy Inc., Mercedes-Benz Group AG, Beiqi Foton Motor Co. Ltd. (Beijing Automotive Group Co. Ltd.), Navistar International Corporation (Traton Group) and The Lion Electric Company.
Key Market Segmentation:
The report has segmented the global electric school bus market based on type, capacity design type, sales channel, application and region.
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
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa
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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 require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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