Electric Bus Market Trends, Regional Outlook, Growth and Business Opportunities

Electric bus market

The demand for electric buses is increasing all over the world, due to government incentives to promote them and achieve zero emissions targets.

NEW YORK, UNITED STATES, June 21, 2022 /EINPresswire.com/ — Growing concerns about environmental issues, such as rising greenhouse gas emissions, global warming and the depletion of the ozone, is expected to propel the electric bus market at a CAGR of 14.9% through 2026. Electric buses offer improved operational efficiency with reduced costs, including long-term benefits. The electric bus runs on electricity rather than diesel or gasoline. It is a popular alternative to traditional buses and widely adopted by private transport companies. Schools have also started using electric vehicle technology to help transport students.

Battery electric buses (BEBs) are likely to dominate the electric bus market, due to government initiatives to financially support and promote the adoption of BEBs. For example, the Delhi government introduced 150 buses for public transport in 2022. By 2025, around 50% of the bus fleet would consist of electric buses globally. Electric bus manufacturing companies are focusing more on adding the BEB category to improve their product portfolio.

Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/electric-bus-market/report-sample

APAC is expected to capture a significant share of the electric bus market, attributed to government policies promoting electric vehicles due to environmental concerns. Several APAC countries are focusing on replacing a substantial portion of traditional fuel-powered buses in the public fleet with e-buses by 2030, leading to a boom in the market. China is expected to dominate the APAC market, due to financial incentives provided by the government to promote the adoption of alternative fuel variants replacing conventional fuel buses.

North America is expected to experience the fastest growing electric bus market. The United States offers a larger market for BEBs, hybrid electric buses (HEBs) and plug-in hybrid electric buses (PHEBs), driving the adoption of electric vehicles for on-road traction. In addition, favorable state and federal government policies such as exemption from emissions testing and toll fees have increased the sales of electric buses in recent years in the region.

The rising trend of autonomous and semi-autonomous buses equipped with advanced instrumentation, actuation, and sensing technologies is driving the growth of the electric bus market. Advanced features such as GPS, light sensing, computer vision, LiDAR and odometer equipped in self-driving buses are leading to increased adoption, replacing traditional buses in the public fleet. Self-driving vehicles have gained popularity in electric vehicles due to their increased efficiency and cost-effectiveness. Autonomous driving is adopted by OEMs on the market, such as AB Volvo, SB Drive and Navya SAS.

The major players in the electric bus market are focusing on launching new products to stay ahead of the competition. For example, Proterra Inc launched the 40-foot ZX5 electric bus that can be equipped with 660 kWh of energy storage capacity to provide a range of 529 km. Likewise, the ZX5 with measurements of 35 feet is equipped with an energy storage capacity of 440 kWh, while the ZX5 model measuring 40 feet is equipped with an energy storage capacity of 220 kWh.

Pre-purchase Inquiry at: https://www.psmarketresearch.com/send-enquiry?enquiry-url=electric-bus-market

Increased operational efficiency of batteries and lower costs are driving the market. The battery captures 40% of the manufacturing cost of the electric bus. Lower battery prices allow OEMs to lower the selling price of the vehicle, leading to increased sales. In addition to this, advancements in technology are likely to improve battery capacity. Manufacturers are focusing on gaining higher energy density, which results in improved operational efficiency and lower manufacturing costs, resulting in a market boom with increased sales.

Thus, growing environmental concerns and the need to preserve natural resources for future generations are attributed to the sustainable development goals driving the market.

Electric Bus Market Size Breakdown by Segments

Vehicle Based
• Battery electric bus
• Plug-in hybrid electric bus
• Hybrid electric bus
Based on length
• More than 10m
• Less than 10m
Battery based
• Lithium–Iron–Phosphate
• Lithium-nickel-manganese-cobalt oxide
Based on end user
• Audience
• Private
Geographical analysis
• Asia Pacific
o China
o India
• Europe
o United Kingdom
o Germany
o Netherlands
o Lithuania
o Austria
o Poland
o Sweden
o Spain
o France
• North America
o United States
o Canada
• Rest of the world
o Brazil

Browse other related reports

Europe Electric Bus Market Report – https://www.psmarketresearch.com/market-analysis/europe-electric-bus-market

China Electric Bus Market Report – https://www.psmarketresearch.com/market-analysis/china-electric-bus-market

US Electric Bus Market Report – https://www.psmarketresearch.com/market-analysis/us-electric-bus-market

Brazil Electric Bus Market Report – https://www.psmarketresearch.com/market-analysis/brazil-electric-bus-market

Global Electric Bus Charging Station Market Report – https://www.psmarketresearch.com/market-analysis/electric-bus-Charging-station-market

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a wide range of industries around the world. As an enterprising research and advisory firm, P&S believes in providing in-depth insights into the ever-changing market scenario, to enable businesses to make informed decisions and ground their business strategies wisely. . P&S has the interests of its customers at heart, which is why the information we provide is both honest and accurate. Our long list of satisfied customers includes entry-level businesses as well as multi-million dollar companies and government agencies.

Prajneesh Kumar
P&S intelligence
+1 347-960-6455
write to us here
Visit us on social media:

#Electric #Bus #Market #Trends #Regional #Outlook #Growth #Business #Opportunities

Add Comment