In Europe, the U.K., Germany, and France are the major markets for electric bus. The government of the U.K. launched a double decker electric bus in London earlier in 2015. Côte d'Ivoire, Uruguay, and Brazil are expected to be the early adopters of electric bus in Rest of the World. The price of electric buses is almost twice, as compared to their conventional counterparts. The demand of public transit services is highest in Brazil, Russia, India, China, and South Africa (BRICS). However, the premium pricing of electric buses is limiting their acceptance in these price sensitive countries. The low level of environment awareness, along with lack of infrastructure, such as charging station is limiting the penetration of electric buses in the public transit system.
The electric bus market is still at its nascent phase, and requires further technical development for the increased adoption of electric buses. Moreover, the premium price of electric buses is the major hindrance for their large scale adoption in public transit infrastructure, especially within the developing countries, where regional governments are focusing more on low emission natural gas powered buses.
The Chinese module suppliers, such as BYD, are expected to be the largest electric bus module suppliers, during the forecast period. So far, AB Volvo is the only major participant to have hybrid module system developed in-house. Other electric bus module suppliers, such as ZF Friedrichshafen AG offer their hybrid bus module in aftermarket for conventional transit buses. Several companies operating in the global electric bus market have been expanding their market at global level. BYD Company Limited has recently expanded its production base in California. Solaris Bus and Coach S.A. launched articulated electric bus 'Urbino 18', in September 2014. The major players operating in the electric bus market include, Zhengzhou Yutong Group Co. Ltd., AB Volvo, Shenzhen Wuzhoulong Motors Co. Ltd., FAW Group Corporation, King Long United Automotive Industry Co. Ltd., Daimler AG, Alexander Dennis Limited, EBUSCO, Ashok Leyland Ltd., Solaris Bus & Coach S.A., BYD Company Limited, and Proterra Inc.
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