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Electric Bus Market Are Launching New and Advanced E-Buses to Improve Their Position in the Global Market
Explore The Report Description At: https://www.psmarketresearch.com/market-analysis/electric-bus-market
In terms of technology, the electric bus industry has been categorized into parallel hybrid bus, pure electric bus, series parallel hybrid bus and series hybrid bus. The hybrid buses segment accounts for the majority of share in the electric bus market; however, the demand of pure electric buses is increasing rapidly, especially in the western countries owing to growing government concerns for emission-free transportation. The growth in market for series hybrid bus is likely to topple down during the forecast period.
The European electric bus market production is expected to cross 1.1 million units by 2025, growing at a CAGR of 33.1% between 2017-2025. European Union’s regulation towards the environment and sustainability is among the most stringent ones in the world and is the primary reason for the growth of the e-bus market in the region. The European Union (EU) has set a plan to minimize the greenhouse gas emissions in the region by around 80% till the end of 2050. To meet the target, emissions from transport need to be reduced by 95%, by 2050. Among the European countries, the U.K. is the largest bus market, owing to its oldest and largest public transit system.
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Some of the major companies operating in the worldwide electric bus market include Yutong Group, AB Volvo, Shenzhen Wuzhoulong, BYD, King Long, Proterra, Daimler, Solaris, Zhongtong, Ebusco, Alexander Dennis, and Ashok Leyland.
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With the help of our professional corporate relations with various companies, our market research offers the most accurate market forecasting. Our analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in our publication. Our research assists our client in identifying new and different windows of opportunity and frame informed and customized strategies for expansion in different regions.
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