Electric Bus Market is segmented on the basis of type, charging type, customer, application and region. Based on type the market is divided into battery electric bus and hybrid electric bus. By charging type, the market is classified into non-autonomous and autonomous. By customer, the market is classified into public and private. By application, the market is classified into shuttles, school buses, transit buses and others.
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Key Players–
Key players of the Electric Bus Market are BYD Company Limited, AB Volvo, Solaris Bus & Coach S.A., Daimler AG, Ashok Leyland Ltd., Temsa, Jingzhou Xinwei, Wanxiang EV, GreenPower Bus, Volvo Buses, King Long United Automotive Industry Co. Ltd., Rich Electric, Wright Bus, Lian Fu, Optare, Tbus, YueXi Bus, Zhong Tong, Ursus, Ebusco, VDL, Yutong Buses, Yangzhou Dawn, Orion Bus, Complete Coach Works, Proterra, Rishbin Vehicles, EBus Company, Easy Go Electric, Eagle EV, Tecnobus and others.
Electric Bus Market is Valued at USD 35.14 Billion in 2018 and Expected to Reach USD 173.68 Billion by 2025 with CAGR of 25.64% Over the Forecast Period.
Market Analysis of Electric Bus-
Electric buses are powered by electricity and propelled by traction motors. In conventional buses, internal combustion engines (ICEs) and fossil fuels are used instead of an electricity source and traction motors. Electric buses can use electric energy from on-board sources such as a battery or an electricity generator connected to the ICE, or off-vehicle energy sources such as overhead lines.
In developing countries many public transport authorities have a great interest in introducing zero-emission electric buses due to the support efforts to reduce the air pollution. Electric vehicles are composed of fewer moving parts compared to traditional internal combustion motors. So, they require less operational and maintenance issues. Electric buses also have less parts than standard buses so they have lower maintenance costs over time- another factor contributing to savings.
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Market Segmentation:–
By Type:
- Battery Electric Bus
- Hybrid Bus
By Charging Type:
- Autonomous
- Non-Autonomous
By Customer:
- Public
- Private
By Application:
- Shuttles
- School Buses
- Transit Buses
- Others
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