The report “Electric Bus Market” evaluates the market on the basis: seating capacity, end-user, battery capacity, bus length, propulsion, power output, and region. The report includes trend analysis and historical market data. This report outlines the competition analysis, strategic imperatives, and annual sales figures for electric buses, as well as growth avenues, production overview, and competition assessment for all the players that were included in the electric bus market study.
Market Overview & Dynamics: E-bus penetration to Multifold during The Forecast Period
The market for electric buses is forecast to grow at a rate of 32-35% over the 2022-2028 period. The global market for electric buses will continue to grow with the support of subsidies from regional governments, domestic regulations, and decarbonizing.
With government funding, increased cost economies, and batteries leading to greater efficiency, the global electric bus market will experience significant growth over the next few years. Participants in the electric bus market face many challenges, including high up-front costs, technical problems with operation, and low margins.
China is still the market leader in electric buses, accounting for 95% of global e-bus fleets by 2021. Europe follows. Major European cities such as London (UK), Copenhagen, Denmark, Paris (France), and Madrid (Spain), have made commitments to purchase zero-emission electric buses. This has fuelled the growth in electric bus sales. The demand for electric buses is increasing due to regional electrification plans. Germany, for instance, has set a goal to sell half of its urban buses powered by BEV or hybrid technology by 2030. Chile, on the other hand, has set a goal to electrify 25% by 2025 of the city’s public transport bus fleet.
Segmental Analysis
Competition Analysis: Regional Players Dominate the Domestic Markets
The global electric bus market observes intense competition as a result of a presence of a large number of manufacturers. BYD and Yutong account for more than 25% of the global electric bus market. Joint venture and Greenfield investments in new facilities are the discerned trends across the market. Recent key developments in the e-bus market, including
Some of the leading players involved in the sales and production of the electric bus include BYD Auto, Zhengzhou Yutong Bus, Solaris Bus & Coach, AB Volvo, VDL Bus & Coach (VDL Groep), Blue Bird Corporation, Iveco Bus, EvoBus GmbH, Anhui Ankai Automobile, Tata Group, Alexander Dennis Limited, Proterra, among others. Proterra dominates the US electric bus market with a significant share of more than 50% in 2021.
RationalStat has segmented the global electric bus market on the basis of seating capacity, end user, battery capacity, length of the bus, propulsion, power output, and region.
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