Increased Adoption of Electric Buses in Compared To Conventional Buses
Fuel constitutes the major part of the operating cost of any vehicle. With increasing fuel costs, using an electric bus for public transport is significantly cost-effective in the long run. Currently, approximately 2.5-3 million buses are operating globally. These are expected to be removed from the market in the next eight years, as per the government mandates in most of the countries. The removal of older and non-efficient vehicles implies that there would be a changeover market of approximately 300,000 buses every year in the global market.
Government initiatives across the global markets are playing a pivotal role in the growth of the electric bus market. For instance, in China, the Ministry of Transport (MOT) provides subsidies and tax benefits to electric automobile manufacturers for the development of low-emission bus fleet. According to the International Energy Agency (IEA), China ranks third on the list of countries using pure electric cars, with more than 100,000 units sold since 2008. In this country, the state governments collaborate with various OEMs and produce electric and other renewable energy buses.
China has been one of the few developing countries worldwide taking initiatives to curb vehicular pollution with the introduction of electric buses. By 2019, it is expected that 25% of the state government vehicle purchases of electric buses in China will feature zero-emission technology. China, being the largest market for electric buses (with a share of more than 55% of the global market), has increased its focus on low emission vehicles, and supportive initiatives from the government are anticipated to create an excellent growth opportunity for the electric bus market in the country.
Key Developments in the Market
- January 2018: China's BYD provided electric buses to Egypt's Alexandria
- January 2018: Hriman Motors launched e-cars with infinite battery in China
- October 2017: China is already the world's largest maker of electric vehicles. In 2016, it sold 507,000, including buses and commercial vehicles, according to the China Association of Automobile Manufacturers.
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1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
3. Executive Summary
3.1 Market Overview and Technology Trends
3.2 Current Market Scenario
3.3 Technology Trends
3.4 Porters Five Forces Framework
3.4.1 Bargaining Power of Buyer
3.4.2 Bargaining Power of Supplier
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products
3.4.5 Intensity of Rivalry
4. Market Dynamics
4.1.1 Increased Adoption Compared To Conventional Buses
4.1.2 Growing Government Initiatives for Controlling Environment Pollution
4.2.1 High initial investment
4.2.2 Limited Number of Charging Stations
4.3.1 Increase in Demand for Li-ion Batteries
5. China Automotive Electric Bus Market, by Vehicle Type
5.1 Battery Electric Bus
5.2 Plug-in-hybrid Electric Bus
6. China Automotive Electric Bus Market, by Technology
6.1 Non Autonomous
7. China Automotive Electric Bus Market, by Consumer Segment
7.2 Fleet Owners
8. Competitive Landscape
8.2 Market Share Analysis
9. Company Analysis
9.1 Daimler AG
9.2 Anhui Ankai Automobile
9.4 Iveco Vehicle manufacturer
9.5 Nanjing Jiayuan EV
9.6 Proterra Inc.
9.7 Ryobi Bus
9.8 Scannia AB.
9.9 Shandong Yi Xing Electric Automobile
9.10 Suzhou Eagle Electric Vehicle
9.11 Volvo Group
9.12 Zhongtong Bus Holding Co., Ltd.
9.13 Zhuhai Guangtong Automobile
10. Future Outlook of the Market
- Daimler AG
- Anhui Ankai Automobile
- Iveco Vehicle Manufacturer
- Nanjing Jiayuan EV
- Proterra Inc.
- Ryobi Bus
- Scannia AB
- Shandong Yi Xing Electric Automobile
- Suzhou Eagle Electric Vehicle
- Volvo Group
- Zhongtong Bus Holding Co. Ltd.
- Zhuhai Guangtong Automobile