According to Nova One Advisor , the global Electric Bus market value was estimated at US$ 80 thousand units in 2020 and is projected to reach US$ 701 thousand units by 2027, registering a CAGR of 42.1% from 2020 to 2027. The report contains 150+ pages with detailed analysis.
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the competition in the global electric bus market will only grow in the coming few years as new companies enter the market space. With the imminent threat from the emerging players, the leading companies in the global market are expected to focus on developing high-end and technically advanced buses in order to stay ahead. Moreover, they are also expected to adopt aggressive marketing strategies such as mergers, joint venture, strategic partnerships, and acquisitions in order to stay relevant in the global market. Some of the key companies operating in the global electric bus market include names such as EBUSCO BV, BYD Company Ltd., Nova Bus, Proterra Inc., FAW Group, and Shenzhen Wuzholong Motors Co. Ltd. among others.
Asia Pacific is expected to be the largest market during the forecast period
The Asia Pacific region is the largest electric bus market in the world. It comprises some of the fastest developing and developed economies in the world. The growth in the region can be attributed to the dominance of the Chinese market and presence of leading OEMs such as BYD, Yutong, Zhongtong, and Ankai in the country as well, resulting in exponential growth of the Asia Pacific electric bus market. Also, Shenzhen was the first city in the world to have a fully electrified public transport fleet. The favorable regulations for electric buses, availability of electric and electronic components at cheaper rates, and rapidly growing charging infrastructure are projected to boost the electric bus market in the region.
Demand for Electric Bus to be Influenced by its Long-term Cost Gains
Air emissions caused by cars that run on fossil fuel has been a significant global issue, prompting policymakers to seek out low-emission or zero-emission vehicles as an alternative solution. The natural gas-based public transportation system is utilized to combat air pollution, but electric buses are gaining traction owing to their near-zero carbon dioxide emissions, thereby propelling the global electric bus market forward.
Besides that, a significant portion of crude oil imports from countries around the world is utilized in public transportation vehicles. By introducing electric cars, these countries strive to reduce their fuel oil import bills. Electric buses, regardless of their high initial cost, come with a lower running cost than their traditional counterparts. In developed countries, public transportation authorities are relying mostly on long-term cost and environmental gains. In addition to that, contrary to their traditional counterparts, these buses are quieter and need less maintenance, which is likely to lead to the development of the global electric bus market.
COVID-19 Impact on Electric Bus Sales
- Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Electric Bus market.
- Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
- Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
- Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Electric Bus market 2021 onwards. This trend will however continue through the course of the report’s assessment period
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Recent report on the Electric Bus market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the Electric Bus market analyzes the scenario for the period of 2017 to 2027, wherein, 2021 is the base year and 2020 is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global Electric Bus market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.
The report analyzes the historical and present-day scenario of the global Electric Bus market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the Electric Bus market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the market.
The report delves into the competition landscape of the global Electric Bus market. Key players operating in the market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the Electric Bus market that are profiled in this report.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The Electric Bus market is analyzed at both regional and country levels.
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Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the Electric Bus Market are:
The global electric bus market is dominated by major players such as BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden). and Others
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Based on propulsion type:
Based on the consumer segment:
- Fleet Operator
Based on application:
Based on the length of bus type:
- less than 9 m
- 9−14 m
- Above 1 4m
Based on Vehicle range:
- less than 200 miles
- Above 200 miles
Based on battery capacity:
- Upto 400 kWh
- Above 400 kWh
Based on power output:
- Upto 250 kW
- Above 250 kW
Based of battery type:
- Lithium- Nickel- Manganese- Cobalt-Oxide
- Lithium- Iron- Phosphate
Based on component (qualitative):
- Fuel Cell Stack
- Battery Management System
- Battery Cooling System
- EV Connectors
A unique research methodology has been utilized to conduct a comprehensive research on the growth of the global Electric Bus market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global Electric Bus market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.
Key Questions are
- What are the key factors influencing the Electric Bus market in each region?
- How much value will the global market generate by the end of the forecast period?
- What will be the CAGR of the global market between 2021 and 2027?
- What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
- What is the future scope and current trends in technologies of the global market?
- What is the revenue of the global market based on segments?
- Which key strategies are used by top players of the global market?
- Which are the leading companies in the global market?
- What are the essential strategies by key stakeholders in the market to expand their geographic presence?
- What are the major advancements witnessed in the global market?
Why should you invest in this report?
If you are aiming to enter the global Electric Bus market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Electric Bus are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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