Global Electric Bus Markets, Competition Forecasts and
Dublin, June 17, 2021 (GLOBE NEWSWIRE) – The “Global Electric Bus Market, By Battery Type (Lithium Ion & Lead Acid), By Application (Intra-City, Intercity & Airport Bus), By Bus Length (6-8m, 9-12m and Above) of 12 m), by seat capacity, by Region, forecasts of competition and opportunities, 2026 “ the report was added to ResearchAndMarkets.com offer.
The global electric bus market was approximately 64.08 thousand units in 2020 and is expected to register growth with a CAGR of approximately 11.20% in volume during the forecast period.
Various government and semi-government transportation services are rapidly adopting electric buses around the world. In addition, compared to buses that run on diesel, electric buses have lower running and maintenance costs. Therefore, the demand for electric buses is increasing rapidly, especially from small and medium-sized businesses.
According to the International Organization of Motor Vehicle Manufacturers (OICA), there were around 1.28 billion passenger and utility vehicles on the road in 2015 and 69.51 million vehicles were sold in 2020. With a rapid increase In the number of road vehicles, governments are concerned about greenhouse gas emissions. as well as traffic logs.
Governments as well as private companies are investing in the development of sustainable public transport systems, also with greener vehicles using alternative fuels. These factors are also helping private fleet owners to adopt electric vehicles at a faster rate through numerous incentive programs, tax breaks and subsidized loan facilities.
These factors are expected to cumulatively contribute to the growth of the global electric bus market during the forecast period. The continued commercial expansion of the world’s leading electric bus manufacturing brands by increasing their product portfolio and customer contact through more dealerships as well as partnerships and mergers with transportation and municipal companies Competition in the global electric bus market is expected to increase over the next five years.
Based on the number of seats as well as the length of the buses, medium-sized buses with a capacity of 31 to 40 seats and a length of 9 to 12 meters, are most in demand as they are suitable for both for intra and interurban journeys. Based on the type of battery, lithium ion is a more performance oriented and cost effective type of battery than lead acid batteries.
Therefore, a majority of the demand is generated by electric buses equipped with lithium-ion batteries. In terms of application, due to the shorter ranges of electric buses, electric buses are more commonly used on intra-city routes. Although with the launch of new, more performance-oriented vehicle models with greater range capacity, intercity travel is also gaining in popularity.
Since Asia-Pacific is the region of developing economies, public transport facilities are still under development. In these countries, it is easier to adopt electric vehicles in municipal and private fleets and with significant investment in these sectors, countries like China, India and Japan are showing rapid growth in electric bus sales. .
Zhengzhou Yutong Bus Co., Ltd., BYD Auto Co., Ltd., VDL Groep, Solaris Bus & Coach sp. z oo, etc. are among the major players operating in the global electric bus market.
Apart from these flagship companies, many startups are also increasing their footprint in the global electric bus market by pushing their products at low cost combined with ease of availability. Large electricity manufacturing and distribution companies sign contracts and partnerships with government and private transportation or transportation companies around the world for better market penetration.
Key target audience:
- Electric bus manufacturing companies
- Raw material suppliers
- Electric bus dealers / distributors
- Governments and financial institutions
- Research organizations and consulting firms
- Research institutes
- EV associations, organizations, forums and alliances
- Industry associations
- Market studies and consulting firms
Years considered for this report:
- Historic period: 2016-2019
- Baseline year: 2020
- Estimated year: 2021
- Forecast period: 2022-2026
Discussed subjects :
1. Product overview
2. Research methodology
3. Executive summary
4. Impact of COVID-19 on the global electric bus market
5. Voice of the customer
5.1. Factors influencing the purchase decision
5.2. Purchase influencer
5.3. Brand recall
5.4. Brand satisfaction level
6. Global Electric Bus Market Outlook
6.1. Market size and forecast
6.1.1. By value and volume
6.2. Market share and forecasts
6.2.1. By type of battery (lithium ion and lead acid)
6.2.2. By application (Intracity; Intercity; Airport Bus)
6.2.3. By bus length (6-8m; 9-12m; Above 12m)
6.2.4. By seating capacity (up to 30 seats; 31 to 40 seats; above 40)
6.2.5. By region (Asia-Pacific, Europe, North America, Middle East and Africa)
6.2.6. By company (2020)
7. Asia-Pacific Electric Bus Market Outlook
8. Outlook for the electric bus market in Europe
9. North America Electric Bus Market Outlook
10. Middle East and Africa Electric Bus Market Outlook
11. Comparative analysis of products
12. Market dynamics
13. Market trends and developments
14. Competitive landscape
14.1. Zhengzhou Yutong Bus Co., Ltd.
14.2. BYD Auto Co., Ltd.
14.3. VDL Group
14.4. Solaris Bus & Coach sp. zoo
14.5. Zhejiang CRRC Electric Vehicle Co., Ltd.
14.6. Zhongtong Bus Holding Co., Ltd.
14.7. Higer Bus Company Limited
14.8. Anhui Ankai Automobile Co., Ltd.
14.9. King Long United Automotive Industry Co., Ltd.
14.10. Beiqi Foton Motor Co., Ltd.
15. Strategic recommendations
For more information on this report, visit https://www.researchandmarkets.com/r/pab8sk