Electric Bus Market By Propulsion Type (Battery electric vehicle, Fuel cell electric vehicle, Plug-in hybrid electric vehicle), By Length (Less than 9 meters, 9-14 meters, Above 14 meters), By Range (Less Than 150 Miles, 150 To 300 Miles, Above 300 Miles), By Battery Capacity (Less Than 50 kWh, 50-250 kWh, Above 250 kWh), By Power Output (Up to 250 kW, Above 250 kW): Global Opportunity Analysis and Industry Forecast, 2021-2031
Electric buses are driven by an electric motor powered by on-board batteries. As these buses run completely on the battery itself, they require re-charging once drained, unlike refueling in the case of ICE buses. E-buses are more efficient than ICE buses in power delivery, torque, and maintenance and are pollution free. Therefore, electric buses are considered the future of public transport systems.
The electric bus market is driven by factors such as an increase in demand for fuel-efficient, high-performance, & low-emission buses, stringent government rules and regulations toward vehicle emission, and reduction in battery prices. However, high manufacturing costs and low fuel economy & serviceability restrict the market growth. Moreover, technological advancements and proactive government initiatives create lucrative growth opportunities for the market.
In addition, electric buses are noise-free, have zero emission, and are an efficient mode of transportation with a lower maintenance cost, which in turn, makes them the preferred choice for fleet owners. In addition, factor such as increasing government initiatives for the promotion of electrification is expected to drive market growth during the forecast year. For instance, in July 2021, the National Transport Authority of Ireland signed a contract with Alexander Dennis Limited and BYD UK for 200 BYD ADL Enviro200EV zero-emission battery-electric buses.
The global e-bus market is segmented on the basis of propulsion type, length, range, battery capacity, power output, and region. By propulsion type, the market is segmented into battery electric vehicle, plug-in hybrid electric vehicle and fuel cell electric vehicle. Further, by length, the market is segmented into less than 9 meters, 9-14 meters, and above 14 meters. By range, the market is segmented into 150 miles, 150 To 300 miles and above 300 miles. Moreover, the market is segmented based on battery capacity into less than 50 kWh, 50-250 kWh and above 250 kWh. By power output, the market is split into up to 250kW and above 250 kW. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of propulsion type, the battery electric vehicle was the highest revenue contributor to the market due to gaining immense traction in the electric bus market owing to their advantages such as changing perception toward the adoption of electric buses in developing as well as developed countries propel the demand of the segment. Also, in most battery electric vehicles, the bus is also capable to recharge its batteries through a process known as regenerative braking, which uses the vehicle’s electric motor to assist in slowing the vehicle and to recover some energy that is normally converted to heat by the brakes which further provide growth opportunities for the electric bus market.
Some major companies operating in the electric bus market include AB Volvo, Ankai Bus, BYD Company Ltd., Construcciones y Auxiliar de Ferrocarriles, S.A., Daimler AG, NFI Group Inc., Proterra, VDL GROEP BV, Yutong Group, and Zhongtong Bus Holdings Co., Ltd.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric bus market analysis from 2021 to 2031 to identify the prevailing electric bus market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the electric bus market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global electric bus market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Propulsion Type
Battery electric vehicle
Fuel cell electric vehicle
Plug-in hybrid electric vehicle
By Length
Less than 9 meters
9-14 meters
Above 14 meters
By Range
Less Than 150 Miles
150 To 300 Miles
Above 300 Miles
By Battery Capacity
Less Than 50 kWh
50-250 kWh
Above 250 kWh
By Power Output
Up to 250 kW
Above 250 kW
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Netherlands
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
AB Volvo
BYD Company Ltd
VDL Groep BV
Anhui Ankai Automobile Co.,Ltd
YUTONG
Proterra
CAF, Construcciones y Auxiliar de Ferrocarriles, S.A.
Daimler AG
NFI Group Inc.
Zhongtog Bus Holding
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