Global electric bus market is projected to surpass $ 350 billion by 2024
Global Electric Bus Market, By Seating Capacity (Up to 30-Seater; 31-40 Seater; & Above 40), By Battery Type (Lead Acid & Lithium Ion), By Application (Intercity; Intracity; & Airport Bus), By Bus Length (6-8m; 9-12m; & Above 12m), By Region, Competition, Forecast & Opportunities, 2024
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NEW YORK, Dec. 2, 2019 /PRNewswire/ -- Global electric bus market is projected to surpass $ 350 billion by 2024 on account of strict emission norms and emphasis by the governments of various countries on clean energy public transportation.According to WHO, air pollution is the leading cause of death in countries with poor quality of air.
As a result, governments of various countries are offering subsidies on the purchase of electric buses. Furthermore, electric buses have lower ownership cost and longer lifespan when compared with their diesel counterparts, which is anticipated to positively influence the growth of the electric bus market during the forecast period.
Global electric bus market can be classified based on seating capacity, battery type, application, bus length and region.Based on the battery type, the market can be bifurcated into lead acid and lithium ion.
Lithium ion accounted for the largest share and the segment is poised to grow at an impressive rate during the forecast period as well, as it is cost-effective and helps to reduce the weight of the bus.
In terms of regional analysis, the market can be segmented into North America, Asia-Pacific, Middle East and Europe.Asia-Pacific is anticipated to grow at the highest rate during the forecast period due to favorable government initiatives and support.
Furthermore, increasing air pollution and reducing cost of batteries are positively influencing the growth of the market in the region. In Asia-Pacific, China dominated the market and the country's electric bus market is poised to grow at an impressive rate in the coming years as well.
Major players operating in the global electric bus market include AB Volvo, BYD Company Limited, Daimler AG, Zhengzhou Yutong Bus Co., Ltd., Anhui Ankai Automobile Co. Ltd., Iveco S.p.A., Scania AB, New Flyer Industries, Dongfeng Automobile Co., Ltd., GreenPower Motor Company Inc., among others.
Years considered for this report:
Historical Period: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
• To assess the demand-supply scenario of electric bus, which covers production, demand and supply of electric buses, globally.
• To analyze and forecast the market size of electric bus market.
• To classify and forecast global electric bus market based on seating capacity, battery type, application, bus length, and regional distribution.
• To identify drivers and challenges for global electric bus market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global electric bus.
• To conduct the pricing analysis for electric bus.
• To identify and analyze the profile of leading players involved in the manufacturing of global electric bus.
To perform the study, the analyst conducted primary as well as exhaustive secondary research.Initially, the analyst prepared an exhaustive list of electric bus players operating globally.
Subsequently, the analyst conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, the analyst could include manufacturers which could not be identified due to the limitations of secondary research. The analyst examined product offerings and regional presence of all major electric bus suppliers across the globe.
The analyst calculated the market size for global electric bus by using a bottom-up technique, wherein manufacturers' volume sales data for different applications, were recorded as well as forecast for the future years. The analyst sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturers to arrive at the overall market size.
Multiple secondary sources such as directories, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Electric bus manufacturers, suppliers, distributors and other stakeholders
• Associations, organizations, forums and alliances related to electric bus
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as electric bus manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, global electric bus market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Seating Capacity:
o Up to 30-Seater
o 31-40-Seater
o Above 40
• Market, By Battery Type:
o Lead Acid
o Lithium Ion
• Market, By Application:
o Intercity
o Intracity
o Airport Bus
• Market, By Bus Length:
o 6-8m
o 9-12m
o Above 12m
• Market, by Region:
o Asia-Pacific
China
India
Japan
Singapore
o Europe
Germany
United Kingdom
Austria
France
Spain
Poland
Turkey
o North America
United States
Canada
Mexico
o Middle East
UAE
Saudi Arabia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in electric bus.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
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