Electric bus Outlook:

MRFR, from its study, estimates that the global Electric bus market  can reach its target to get at least 13.4% CAGR during the forecast period 2023-2030, and will be valued USD 34.7 Billion.With things going haywire, Market Research Future (MRFR) conducts critical analyses to ensure that organisations operating in the global automotive electric bus industry 2020 are fully prepared to handle any potential ramifications brought on by the COVID-19 pandemic. Concerns about the depletion of fossil fuels and environmental pollution, which have been on the rise for years, have been linked to the market growth for electric buses. To address the aforementioned problems, numerous governments all over the world have started making improvements to the public transportation networks, mostly by switching out heavy-duty diesel and gasoline-powered buses for zero-emission vehicle electric buses.


Automotive electric buses, which run primarily on electricity, have been viewed as a big business opportunity. Both of the operating modes for electric buses—electric and hybrid—consume less fuel and can be recharged using a regular electrical socket. These verifiable elements assert that the market may have an upward trend in growth, particularly following the global long-term effects of COVID 19. According to MRFR, the only source of 29% of greenhouse gases that contribute to air pollution and global warming is automobile emissions. Vehicles that are less harmful to the environment and use alternative fuels are becoming more popular, thanks to the decline in crude oil prices and increase in gasoline expenses.

Furthermore, looking at benefits such as thermal comfort and noise reduction offered by these will further augment the automotive electric bus Industry. Electric & hybrid electric buses assist in reducing the effects of solar heat build-up inside the bus and then turns into a filter for disruptive noises such as car horns and construction work.

On the contrary, the factor of high cost allied with manufacturers, lack of awareness on usability and benefits impedes the expansion of the market, significantly during the forecast period.

KEY COMPANIES PROFILED

  1. Daimler AG (Germany)
  2. Anhui Ankai Automobile Co., Ltd.( China)
  3. Volvo Group (Sweden)
  4. Wright Enrichment Inc(U.S.)
  5. Shandong Yi Xing Electric Auto Co.,Ltd (China)
  6. Zhongtong Bus Holding Co., Ltd.( China)
  7. BYD Auto Co., Ltd ( China)
  8. Iveco (Italy)
  9. Ebus (Singapore)


Segmentation of Market

By Charging technology

  1. Autonomous
  2.  Non-autonomous

By Vehicle Type

  1. Light Duty Electric
  2. Heavy Duty Electric 
  3. Hybrid Electric Bus

By Region 

  1. North America
  2. Europe
  3. Asia-Pacific
  4. Rest of the World

Regional Front

Asia-Pacific is leading the automotive electric bus Industry with augmented government initiatives in countries such as China, India, and Japan. China is the leading market for automotive electric buses, and the government is vigorously promoting the replacement of conventional buses with electric ones. China is also budding the required infrastructure to support the use of electric buses. However, in 2017 and 2018, sales of automotive electric buses declined, owing to the changes in policies and subsidies among the national and local governments in the country. Yet in the forecast period, China may continue to observe growth in the adoption of automotive electric buses, as more than thirty cities in the Chinese have planned to accomplish 100% electrified public transit by 2020. The regions are Zhuhai, Guangzhou, Foshan, Dongguan, and Zhongshan in the Pearl River Delta, along with Hangzhou, Nanjing, Shaanxi, and Shandong. 

Europe region is known as one of the leading regions for the expansion of the bus sector. Governments of various countries in Europe are taking initiatives and steps to curb pollution, which in turn is boosting demand for automotive electric buses and other vehicles.

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