Norway Electric Bus Market 2019-2025

Norway electric bus market is estimated to grow at a considerable CAGR during the forecast period. The rising adoption of electric vehicles owing to the growing environmental concerns along with cohesive government initiatives are some of the major aspects to propel the adoption of electric buses in the country, thereby fueling the growth of Norway electric bus market.In 2016, the government of Norway had declared a target of achieving 100% EV share of purchases of urban buses by 2025, which includes the target of 75% EV share of purchases of long-distance buses and 50% in trucks by 2030. For fulfillment of this goal, the government of the country offers several benefits to the drivers of electric buses such as no road tax,reduced road and ferry tolls, and free battery charging at publicly funded charging stations.

The market is segmented on the basis of bus type, battery type, and end-user. Based on the bus type, the market is sub-segmented into the hybrid electric bus, fuel cell electric bus, and battery-electric bus. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. The decline in cost of li-ion battery and inherent benefits offered by these batteries including smaller size, lighter weight, and higher energy density is anticipated to drive the market share of these batteries. Based on end-user, the market is sub-segmented into government and fleet owners.

Solaris Bus & Coach S.A., BYD co. Ltd., Ebusco B.V., Daimler AG, and Zhengzhou Yutong Bus Co., Ltd. among others are the key players operating in the Norway electric bus market. These key players are actively involved in adopting several growth strategies such as partnership and collaboration, geographical expansion, and new product launches to stay competitive in the market. In May 2017, Norwegian bus operator Norgesbuss had added 3 new full-electric zero-emission Ebusco buses to their fleet.

Research Methodology

The market study of the Norway Electric Bus market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors.

Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to the reports.

Secondary Sources Include:

Financial reports of companies involved in the market.

Whitepapers, research-papers, and news blogs.

Company websites and their product catalog.

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation:

1. Norway Electric Bus Market Research and Analysis by Bus type

2. Norway Electric Bus Market Research and Analysis by Battery Type

3. Norway Electric Bus Market Research and Analysis by End-User

The Report covers:

Comprehensive research methodology of the Norway Electric Bus market.

This report also includes a detailed and extensive market overview with key analyst insights.

An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.

Analysis of regional regulations and other government policies impacting the Norway Electric Bus market.

Insights about market determinants which are stimulating the Norway Electric Bus market.

Detailed and extensive market segments with regional distribution of forecasted revenues.

Extensive profiles and recent developments of market players.