Electric Bus Market Size, Share & Trend Analysis Report, By Bus Type (Hybrid Electric Bus, Fuel Cell Electric Bus, and Battery Electric Bus), By Battery Type (Li-ion, NiMH and Others), By End-User (Government and fleet Owner) and Forecast Period, 2019-2025.
The global electric bus market is estimated to grow significantly during the forecast period. The major factor influencing market growth includes the increase in environmental concern due to increasing air pollution across the globe. Every country is facing pollution problems and deteriorated air quality issues. To deal with the pollution, governments of different countries had implemented several stringent rules and regulations to meet the emission standards. It encouraged the public as well as commercial transit to adopt electric buses in the city. The growing infrastructure for charging electric buses also encourages adopting electric buses, hence driving the growth of the market.
According to the world economic forum, Jakarta, the largest bus system across the globe, planning to adopt electric buses in their cities. Jakarta had started testing electric buses in order to replace diesel buses in the city. This shows the immense opportunity for the electric bus market to grow. Further, in July 2019, the inter-ministerial committee for an electric vehicle of the Indian government sanctioned 5,645 electric buses for intracity operation in 65 cities. It will boost the market with the intention of a clean, quiet, and green city.
Geographically, the global electric bus market is classified into North America, Europe, Asia-Pacific, and RoW. Asia-Pacific has witnessed the highest market share in 2018 owing to the major contribution of China with more than 70% of the total electric buses in China only. The stringent government regulations in Asia-Pacific countries such as India, China, and Japan regarding emissions have led to the electric bus market in this region. However, North-America is estimated to witness significant growth during the forecast period as the US is more focused on adopting electric buses in schools and introduced various schemes to encourage electric bus adoption.
The major players in the global electric bus market include BYD Co. Ltd., NFI Group, Inc., Ashok Leyland Corp, Proterra Inc; AB Volvo, Zhengzhou Yutong Group Co. Ltd; and Daimler AG. The strategies followed by the market players include mergers and acquisitions, partnerships and collaborations and geographical expansion to expand market share across the globe. For instance, in September 2019, Daimler Truck and Buses and battery manufacturer Contemporary Amperex Technology Co. Ltd. (CATL) signed agreement, according to it, CATL will supply lithium-ion battery cell for electric buses and trucks to Daimler AG.
Research Methodology
The market study of the global electric bus market is incorporated by extensive primary and secondary research. 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:
The report is intended for electric bus manufacturers, battery manufacturers, automobile part manufacturers, and government agencies for overall market analysis and competitive analysis. 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:
The Report covers:
The global electric bus market is estimated to grow significantly during the forecast period. The major factor influencing market growth includes the increase in environmental concern due to increasing air pollution across the globe. Every country is facing pollution problems and deteriorated air quality issues. To deal with the pollution, governments of different countries had implemented several stringent rules and regulations to meet the emission standards. It encouraged the public as well as commercial transit to adopt electric buses in the city. The growing infrastructure for charging electric buses also encourages adopting electric buses, hence driving the growth of the market.
According to the world economic forum, Jakarta, the largest bus system across the globe, planning to adopt electric buses in their cities. Jakarta had started testing electric buses in order to replace diesel buses in the city. This shows the immense opportunity for the electric bus market to grow. Further, in July 2019, the inter-ministerial committee for an electric vehicle of the Indian government sanctioned 5,645 electric buses for intracity operation in 65 cities. It will boost the market with the intention of a clean, quiet, and green city.
Geographically, the global electric bus market is classified into North America, Europe, Asia-Pacific, and RoW. Asia-Pacific has witnessed the highest market share in 2018 owing to the major contribution of China with more than 70% of the total electric buses in China only. The stringent government regulations in Asia-Pacific countries such as India, China, and Japan regarding emissions have led to the electric bus market in this region. However, North-America is estimated to witness significant growth during the forecast period as the US is more focused on adopting electric buses in schools and introduced various schemes to encourage electric bus adoption.
The major players in the global electric bus market include BYD Co. Ltd., NFI Group, Inc., Ashok Leyland Corp, Proterra Inc; AB Volvo, Zhengzhou Yutong Group Co. Ltd; and Daimler AG. The strategies followed by the market players include mergers and acquisitions, partnerships and collaborations and geographical expansion to expand market share across the globe. For instance, in September 2019, Daimler Truck and Buses and battery manufacturer Contemporary Amperex Technology Co. Ltd. (CATL) signed agreement, according to it, CATL will supply lithium-ion battery cell for electric buses and trucks to Daimler AG.
Research Methodology
The market study of the global electric bus market is incorporated by extensive primary and secondary research. 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.
- Authentic public databases
- Whitepapers, research-papers, and news blogs.
- Company websites and their product catalog.
The report is intended for electric bus manufacturers, battery manufacturers, automobile part manufacturers, and government agencies for overall market analysis and competitive analysis. 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:
- Global Electric Bus Market Research and Analysis by Bus Type
- Global Electric Bus Market Research and Analysis by Battery Type
- Global Electric Bus Market Research and Analysis by End-User
The Report covers:
- Comprehensive research methodologies of the global electric bus market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global electric bus market.
- Insights about market determinants which are stimulating the global electric bus market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
Table of Contents
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
Companies Mentioned
A selection of companies mentioned in this report includes:
- AB Volvo
- Allison Transmission, Inc.
- Anhui Ankai Automobiles Co. Ltd
- Ashok Leyland Corp.
- Avass Group of Companies
- BlueBird Corp.
- BYD Co. Ltd.
- Daimler AG
- Ebusco B.V.
- Ekova Electric A.S.
- GILLIG LLC
- GreenPower Motor Co. Inc.
- Hunan CSR Times Electric Vehicle Co., Ltd.
- Iveco S.p.A
- King Long United Automotive Industry, Co. Ltd.
- Nanjing Ruian Electric Co., Ltd.
- NFI Group, Inc.
- Proterra, Inc.
- Scania AB
- Solaris Bus & Coach S.A.
- Tata Motors, Ltd.
- TECNOBUS S.p.A
- VDL Bus & Coaches B.V.
- Yinlong Energy Co Ltd.
- Zhongtong Yutong Group Co. Ltd.
