LONDON, March 31, 2016 /PRNewswire/ -- Rising environmental concerns and increasing government investments in fuel saving technologies and alternative fuel vehicles is driving growth in global electric & hybrid electric vehicles market. Additionally, increasing urbanization coupled with rising air and noise pollution is anticipated to emerge as other contributory factors propelling demand for electric & hybrid electric buses in the coming years. Though, global market for electric & hybrid electric buses is in its nascent phase, an increasing number of global bus manufacturers are opting to manufacture electric & hybrid electric buses as substitutes to diesel fueled buses. Advancements in the field of electric mobility and rising adoption of these buses in developed and emerging economies is expected to expand market size for global electric & hybrid electric bus market through 2021.
According to "Global Electric & Hybrid Electric Bus Market By Vehicle Type, By Technology, Competition Forecast and Opportunities, 2011-2021", global market for electric & hybrid electric bus is projected to grow at a CAGR of 17% during 2016 - 2021. Hybrid electric buses accounted for majority of the market share in 2015, however, sales of pure electric buses are expected to grow at a faster pace over the next five years. Moreover, the market is forecast to witness significantly higher sales of heavy duty electric & hybrid buses over the course of next five years compared to light duty variants. In 2015, a major share in global demand for electric & hybrid electric buses was accounted for by China, predominantly on account of majority of the major electric & hybrid electric bus manufacturers such as BYD Company, Zhengzhou Yutong Bus, Zhongtong Bus & Holding, Xiamen King Long United Automotive Industry and Shenzhen Wuzhoulong Motors being Chinese electric & hybrid bus manufacturers. "Global Electric & Hybrid Electric Bus Market By Vehicle Type, By Technology, Competition Forecast and Opportunities, 2011-2021" report elaborates following aspects of the global market for electric & hybrid electric buses:
- Global Electric & Hybrid Electric Bus Market Size, Share & Forecast
- Segmental Analysis – By Vehicle Type (Light Duty & Heavy Duty Electric & Hybrid Electric Buses), By Technology (Hybrid Electric Buses & Pure Electric Buses) & By Region (Asia-Pacific, Americas, Europe & CIS, and Rest of World)
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of the global electric & hybrid electric bus market
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, electric & hybrid bus companies and other stakeholders align their market-centric strategies
- To obtain research based business decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with electric & hybrid electric bus manufacturers, bus companies, transport associations, various international organizations and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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