Press release
Electric Bus Market Size, Share, Industry, Forecast and outlook (2023-2030)
Electric Bus Market OverviewThe global Electric Bus Market experienced substantial growth, reaching USD 53 billion in 2022 and is projected to soar to USD 920 billion by 2030, showing a remarkable CAGR of 42.8% during the forecast period from 2023-2030. The market's exponential growth is attributed to rising environmental awareness, governmental emphasis on sustainable transportation, and technological advancements in battery innovations.
Market Dynamics:
Environmental Concerns & Government Initiatives: Environmental sustainability concerns drive government initiatives worldwide. Various countries have implemented emission norms and incentives, contributing to the expansion of the electric bus market. China, notably, dominates the market with over 420,000 electric buses in operation, representing almost 99% of the global fleet.
Battery Innovations: Advancements in battery technology, especially lithium-ion batteries, have reduced costs and improved energy density, making electric buses more viable. For instance, the European Union's funding initiative aims to boost advanced lithium-ion battery production, fostering electric mobility across Europe.
Challenges:
Range Anxiety & Reliability Issues: Despite battery improvements, electric buses still have limited range capabilities, impacting operational planning, especially for long-distance routes. Reliability and maintenance issues, coupled with high battery replacement costs, remain concerns for fleet operators.
Request for Free Sample: https://www.datamintelligence.com/download-sample/electric-bus-market
Market Segment Analysis:
Battery Electric Vehicles (BEVs) Dominance: BEVs lead the electric bus market, accounting for about two-thirds of market shares globally. Countries like China and the Netherlands have predominantly adopted BEVs in their electric bus fleets due to strong government support and plans for full electrification.
Geographical Insights:
Asia-Pacific's Dominance: The Asia-Pacific region dominates the electric bus market, hosting approximately 75% of the global electric bus fleet in 2022. China's robust support for electric mobility, technological advancements in Japan, and ambitious plans in India signify the region's commitment to sustainable transportation.
Key Market Players:
Major global players in the Electric Bus Market include BYD, YUTONG, PROTERRA, and AB VOLVO, among others. These companies drive innovation and technological advancements in the electric bus segment.
COVID-19 Impact:
Initial Disruptions & Subsequent Recovery: The pandemic initially disrupted manufacturing and supply chains, causing a decline in bus production. However, governments responded with supportive policies, subsidies, and investments, stimulating economic recovery and promoting sustainable transportation.
AI Impact:
Revolutionizing Electric Bus Efficiency: Artificial Intelligence (AI) integration in electric bus systems has led to increased performance and adoption. AI-powered battery management systems, such as Proterra's Catalyst E2, optimize battery performance, resulting in enhanced efficiency and extended range.
Russia-Ukraine War Impact:
Supply Chain Disruptions: The conflict has disrupted supply chains for critical battery components sourced from Ukraine, impacting material availability and pricing. Manufacturers faced challenges due to increased costs and delays in trade routes, affecting electric bus prices and domestic deployment initiatives.
Key Developments:
Product Innovations: Leading manufacturers introduced innovative electric bus models in recent years. BYD's K12A, Proterra's ZX5, and Volvo's 7900 Electric Articulated showcase advancements in range, safety features, and drivetrain technology, strengthening their positions in the market.
The Electric Bus Market continues to expand rapidly, driven by environmental concerns, governmental support, and technological advancements. Despite challenges, such as range limitations and supply chain disruptions, the market's future growth remains promising, especially with ongoing innovation and investment in sustainable transportation solutions.
Related Reports:
https://www.datamintelligence.com/download-sample/electric-car-market
https://www.datamintelligence.com/download-sample/automotive-electric-bus-market
https://www.datamintelligence.com/download-sample/automotive-electric-bus-market
https://www.datamintelligence.com/download-sample/automotive-electric-bus-market
Media Contact
Company Name: DataM Intelligence
Email: info@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com/
About DataM Intelligence
DataM Intelligence 4Market Research is a Market Research firm that provides end-to-end business solutions to organizations from Research to Consulting. We at DataM Intelligence leverage our top trademark trends, insights, and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of Syndicate Reports & and; Customized Reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries, catering to the key business research needs that influence the growth trajectory of our vast clientele.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electric Bus Market Size, Share, Industry, Forecast and outlook (2023-2030) here
News-ID: 3299822 • Views: …
More Releases from DataM Intelligence 4market Research LLP
United States Exocrine Pancreatic Insufficiency Treatment Market 2024-2031: Comp …
The Global Exocrine Pancreatic Insufficiency Treatment Market reached US$ 3.30 billion in 2023 and is expected to reach US$ 5.37 billion by 2031, growing at a CAGR of 6.4% during the forecast period 2024-2031.
Exocrine Pancreatic Insufficiency (EPI) is a condition where the pancreas fails to produce sufficient digestive enzymes, leading to malabsorption, nutrient deficiencies, and gastrointestinal issues. Treatments primarily involve pancreatic enzyme replacement therapy (PERT), dietary modifications, and adjunctive nutritional…
Herpes Labialis Drugs Market 2024-2031: Comprehensive Analysis of Antiviral Ther …
The global herpes labialis drugs market reached US$ 1.16 billion in 2023 and is expected to reach US$ 1.7 billion by 2031 growing with a CAGR of 4.8% during the forecast period 2024-2031.
Herpes labialis, commonly known as cold sores, is caused by the Herpes Simplex Virus-1 (HSV-1). Treatment options include antiviral drugs such as acyclovir, valacyclovir, famciclovir, and topical formulations, which help reduce symptoms, accelerate healing, and prevent recurrence. The…
United States Chronic Inflammatory Demyelinating Polyneuropathy Market 2024-2031 …
Chronic Inflammatory Demyelinating Polyneuropathy Market is valued at a significant CAGR during the forecast period (2024-2031).
Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) is a rare autoimmune disorder that leads to progressive weakness, numbness, and sensory impairment in the limbs. Current treatments include corticosteroids, intravenous immunoglobulin (IVIg), plasma exchange (plasmapheresis), and emerging biologics. The market is expanding due to increasing disease awareness, advances in therapeutic options, early diagnosis, and growing adoption of patient-centric…
United States Varicella Zoster Infections Treatment Market 2024-2031: In-Depth A …
Global Varicella Zoster Infections Treatment Market reached US$ 1,799.42 million in 2023 and is expected to reach US$ 2,523.90 million by 2031, growing at a CAGR of 4.3% during the forecast period 2024-2031.
Varicella Zoster Virus (HHV-3) causes chickenpox (varicella) and shingles (herpes zoster). Treatments include antiviral drugs (acyclovir, valacyclovir, famciclovir), vaccines, and pain management therapies to prevent complications and manage symptoms. The market is growing due to increasing prevalence of…
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors…
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…
