Dublin, June 17, 2021 (GLOBE NEWSWIRE) -- The "Global Electric Bus Market, By Battery Type (Lithium Ion & Lead Acid), By Application (Intracity, Intercity & Airport Bus), By Bus Length (6-8m, 9-12m, & Above 12m), By Seating Capacity, By Region, Competition Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Electric Bus Market stood at around 64.08 thousand units in 2020 and is expected to register growth with a CAGR of around 11.20% by volume in the forecast period.
Various government & semi-government run transport departments are rapidly adopting electric buses throughout the globe. Moreover, in comparison with diesel run buses, electric buses have lower running and maintenance costs, therefore, the demand for electric buses are growing rapidly especially from small and medium enterprises.
According to International Organization of Motor Vehicle Manufacturers (OICA), there were around 1.28 billion passenger and commercial vehicles on road in 2015 and 69.51 million vehicles were sold in 2020. With on road vehicle population increasing briskly, governments are concerned for both greenhouse gas emissions as well as traffic loggings.
Governments as well as private firms are investing in development of sustainable public transport systems, that too with more green vehicles utilizing alternative fuels. These factors are also aiding private fleet owners to adopt EVs at a faster rate via numerous incentive schemes, tax rebates and subsidised loan facilities.
These factors are cumulatively expected to aid the growth of the Global Electric Bus Market in the forecast period. Continuous business expansion of the worlds' leading electric bus manufacturing brands by increasing their product portfolio and customer outreach through more dealer addition as well as partnerships & tie-ups with transport & municipal corporations are anticipated to intensify the competition in the Global Electric Bus Market over the course of next five years.
On the basis of seating capacity as well as bus length, medium sized buses of seating capacity between 31 to 40 seats and length of 9 to 12 meters, have the most demand due to being suitable for both intracity and intercity routes. Based on battery type, lithium ion is more performance oriented and cost-effective battery type as compared to lead acid batteries.
Therefore, a majority of the demand is generated by lithium ion battery fitted electric buses. In terms of application, due to the shorter ranges of electric powered buses, electric buses are more commonly run on intra city routes. Although with new model launches more performance-oriented vehicles with larger range capacities, intercity travelling is also gaining popularity.
Since, Asia-Pacific is the region with developing economies, public transport facilities are still under development. In such countries it is easier to adopt EVs in the municipal & private fleets and with flooding investments in such sectors, countries like China, India & Japan are showing a rapid increase in sales of electric buses.
Zhengzhou Yutong Bus Co., Ltd., BYD Auto Co., Ltd., VDL Groep, Solaris Bus & Coach sp. z o.o., etc. are some of the leading players operating in the Global Electric Bus Market.
Apart from these flagship companies, many startup companies are also increasing their footprint in the Global Electric Bus Market by pushing their low-cost products blended with ease of availability. Major electric manufacturing and distribution companies are signing up contracts and partnerships with government and private transit or transport corporations across the globe for better market penetration.
Key Target Audience:
- Electric bus manufacturing companies
- Raw material suppliers
- Dealers/distributors of electric buses
- Governments and financial institutions
- Research organizations and consulting companies
- Research institutes
- Associations, organizations, forums and alliances related to EVs
- Industry associations
- Market research and consulting firms
Years considered for this report:
- Historical Period: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Electric Bus Market
5. Voice of Customer
5.1. Factors Influencing Purchase Decision
5.2. Influencer of Purchase
5.3. Brand Recall
5.4. Brand Satisfaction Level
6. Global Electric Bus Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Battery Type (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 Seater; 31-40 Seater; Above 40)
6.2.5. By Region (Asia-Pacific, Europe, North America, and Middle East & Africa)
6.2.6. By Company (2020)
7. Asia-Pacific Electric Bus Market Outlook
8. Europe Electric Bus Market Outlook
9. North America Electric Bus Market Outlook
10. Middle East and Africa Electric Bus Market Outlook
11. Product Benchmarking
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
14.1. Zhengzhou Yutong Bus Co., Ltd.
14.2. BYD Auto Co., Ltd.
14.3. VDL Groep
14.4. Solaris Bus & Coach sp. z o.o.
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 about this report visit https://www.researchandmarkets.com/r/pab8sk
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