The electric bus market is expected to reach an estimated $71.9 billion by 2024 with a CAGR of 19.6% from 2019 to 2024
NEW YORK, Sept. 4, 2019 /PRNewswire/ -- Trends, opportunities and forecast in electric bus market to 2024 by vehicle type (Plug-in hybrid electric bus, Hybrid electric bus, Battery electric bus), by battery type (Lithium Iron Phosphate, Nickel Manganese Cobalt Oxide (NMC), Others), by charging type (inductive, conductive, and plugin) by length type {small bus (>10 Meter), and large bus (<10 Meter)}, by end-use type (public and private), and by region (North America, Europe, Asia Pacific, and the Rest of the World)>
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The future of the electric bus market looks promising with opportunities in the public and private transportation. The electric bus market is expected to reach an estimated $71.9 billion by 2024 with a CAGR of 19.6% from 2019 to 2024. The major drivers for this market are increasing gasoline prices, government subsidies as tax benefits to promote electric buses, and stringent environmental regulations to reduce air pollution.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of low cost lithium ion batteries and integrated software solutions for better optimization of bus performance.
Electric Bus
Electric Bus
Electric Bus
The study includes the electric bus market size and forecast for the electric bus market through 2024, segmented by vehicle type, battery type, charging type, length type, end use type, and the region as follows:
Electric Bus Market by Vehicle Type [$M shipment analysis from 2013 to 2024]:
Battery Electric Bus Plug-In Hybrid Electric Bus Hybrid Electric Bus
Electric Bus Market by End Use Industry [$M shipment analysis from 2013 to 2024]:
Lithium Iron phosphate (LFP) Nickel Manganese Cobalt Oxide (NMC) Others
Electric Bus Market by Technology [$M shipment analysis from 2013 to 2024]:
Plug-in Conductive Others
Electric Bus Market by LengthType [$M shipment analysis from 2013 to 2024]:
Small Bus (<10 Meter) Large Bus ( >10 Meter)
Electric Bus Market by End Use Type [$M shipment analysis from 2013 to 2024]:
Public Private
Electric Bus Market by Region [$M shipment analysis for 2013 to 2024]:
North America United States Canada Mexico Europe United Kingdom Germany Asia Pacific Japan China The Rest of the World
Some of the electric bus companies profiled in this report include BYD, CRRC, Alexander Dennis Limited, Solaris Bus & Coach, Zhengzhou Yutong, New Flyer, Volvo, Proterra, and others..
The analyst forecasts that battery electric bus will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to declining battery prices and government initiatives, such as tax benefits and subsidies to promote electric transportation.
Within this market lithium iron phosphate, nickel manganese cobalt oxide (NMC), lithium metal polymer, nickel-metal hydride, and lithium titanate oxide rechargeable batteries are used in electric bus. On the basis of its comprehensive research, The analyst forecasts that lithium iron phosphate (LFP) will remain the largest segment due to its economical cost and long cycle life. Nickel manganese cobalt oxide (NMC) battery is expected to witness highest growth over the forecast period due to its faster charging rate and higher energy density properties.
APAC will remain the largest region due to growing concerns on environmental pollution, government subsidies and tax rebates, and heavy investment from automaker in electric bus development. Europe is expected to witness highest growth over the forecast period due to stringent European government regulations which ensures to reduce CO2 emissions by adding more electric buses to its existing fleet.
Some of the features of "Electric Bus Report: Trends, Forecast and Competitive Analysis" include:
Market size estimates: Electric bus market size estimation in terms of value ($M) shipment.
Trend and forecast analysis: Market trend (2013-2018) and forecast (2019-2024) by end use industry.
Segmentation analysis: Electric bus market size by vehicle type, battery type, charging type, length type, and end use in terms of value shipment.
Regional analysis: electric bus market breakdown by key regions such as North America, Europe, and Asia & Rest of World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of electric bus in the electric bus market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of polyolefin electric bus analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the electric bus market by vehicle type (Plug-in hybrid electric bus, Hybrid electric bus, Battery electric bus), by battery type (Lithium Iron Phosphate, Nickel Manganese Cobalt Oxide (NMC), Others), by charging type (inductive, conductive, and plugin) by length type {small bus(<10 Meter) and large bus(>10Meter)}, by end-use type (public and private), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this electric bus market?
Q.5. What are the business risks and competitive threats in this electric bus market?
Q.6. What are the emerging trends in this electric bus market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the electric bus market?
Q.8. What are the new developments in the electric bus market? Which companies are leading these developments?
Q.9. Who are the major players in this electric bus market? What strategic initiatives are key players pursuing for business growth?
Q.10.
What are some of the competing products in this electric bus market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11.
What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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