Global Electric Bus Market Recent Trends, In-depth Analysis, Market Size Research Report Forecast up to 2027
Industry Trends
Electric buses, which primarily
operate through the consumption of electrical energy, were considered within
the scope of the industry. Electric busses are operated in two modes,
electric-only and hybrid (the primary fuel may be electrical energy, thus consuming
less petroleum), which can be recharged from a standard electrical outlet.The
growth of the electric bus market has been due to growing concerns about fossil
fuel depletion and environmental pollution. To fix the above-mentioned
concerns, many governments around the world have introduced changes in public
transportation systems by substituting zero-emission electric busses for
heavy-duty diesel and gasoline-run busses. Increasing government focus on
promoting mass transit electrification solutions and government support are
driving the growth of the electric bus market.
The adoption of electric buses
for public transport has been significantly promoted by transit agencies across
various countries. Owing to their ongoing purchase orders for e-buses, Asia-Pacific
and North America are likely to show high adoption rates of battery electric
buses during the forecast period among regions. In North America, for instance,
among several U.S. states, California has been identified as the primary state
for the use of electric buses, and its transportation authorities have agreed
to operate 357 electric buses, including the purchased and ordered buses. In
addition, in 2018, mayors from Sacramento, Los Angeles, San Francisco, San Jose
and Oakland across California signed a letter to the California Air Resources
Board (CARB) urging the transit agency to speed up the electric bus deployment.
Meanwhile, Olectr-BYD has deployed nearly 100 electric busses in Asia-Pacific,
particularly India, as of 2018, and is expected to continue to increase the
number of its e-busses in the country over the forecast period.
In the Asia-Pacific region, China
is the world's largest producer and consumer of e-buses. National sales goals,
favorable regulations, supportive subsidies and municipal air-quality targets
have helped domestic demand in the region. Sales of battery electric buses had
decreased in 2017 and 2018, however, due to changes in policies and incentives
between the country's national and local governments. With more than 30 Chinese
cities planning to achieve 100% electrified public transit by 2020, including
Guangzhou, Zhuhai, Dongguan, Foshan, and Zhongshan in the Pearl River Delta,
along with Nanjing, Hangzhou, Shaanxi, and Shandong, China may continue to
witness growth in the adoption of electric buses. As of December 2018, almost
16,000 electric buses were operated in one of the Chinese megacities, Shenzhen.
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Electric Bus Market Revenue & Forecast, (US$ Million), 2015 – 2027
Competitive Landscape
The
report provides both, qualitative and quantitative research of electric bus
market, as well as provides comprehensive insights and development methods
adopted by the key contenders. The report also offers extensive research on the
key players in this market and details on the competitiveness of these players.
Key business strategies such as mergers and acquisitions (M&A),
affiliations, collaborations, and contracts adopted by these major market
participants are also recognized and analysed in the report. For each company,
the report studies their global presence, competitors, service offerings and
specification amongst others.
The
major market players include: King Long United Automotive Industry Co. Ltd.,
BYD Company Limited, Zhengzhou Yutong Group Co. Ltd., Proterra Inc., AB Volvo,
Solaris Bus & Coach S.A., Daimler AG, Zhongtong Bus & Holding Co. Ltd.,
EBUSCO, and Ashok Leyland Ltd.
The
global trend in the electric bus market is undergoing a major phase of
development and is expected to see the entry of new market players over the
forecast period. Governments of developed countries and numerous developing
countries focus on technological advances–not only to address the green environment
issue but also to provide advanced customer service.
Electric
Bus Market:
By
Vehicle Type: Battery Electric Bus, Plug-in Hybrid Electric Bus
By
Consumer: Government, Fleet Operators
By
Geography:
North America: (U.S, Canada, Mexico, Rest of North
America)
Europe:
(France, The UK, Spain, Germany, Italy)
Nordic
Countries: (Denmark, Finland, Iceland, Sweden, Norway)
Benelux
Union: (Belgium, The Netherlands, Luxembourg, Rest of Europe)
Asia
Pacific:(China, Japan, India, New Zealand, Australia, South Korea)
Southeast
Asia: (Indonesia, Thailand, Singapore)
Rest of
Southeast Asia
Middle
East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East
and Africa)
Latin
America: (Brazil, Argentina, Rest of Latina America)
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