Electric Bus Market research report by Delvens focuses on primary sections such as – market segments, market outlook, competitive landscape, and company profiles. The segments provide details in terms of various perspectives such as end-use industry, product or service type, and any other relevant segmentation as per the market’s current scenario which includes various aspects to perform further marketing activity.
The global electric bus market is projected to grow from 192 thousand units in 2021 to 544 thousand units in 2028 at a CAGR of 16.0% in forecast period.
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Electric bus or e-bus is a bus that does not have traditional ICE engine for its propulsion and is completely electric. E-bus is driven by an on-board electric motor that receives the power from on-board batteries or set of batteries. Electric buses are considered as eco-friendly as they do not produce any pollutants are also economical when compared with traditional gasoline/diesel buses.
Increase in demand for fuel-efficient, high-performance, and low-emission buses, stringent government rules & regulations toward vehicle emission, and reduction in battery prices are some of the factors that have supported long-term expansion for Electric Bus Market.
Key Players of Electric Bus Market
· AB Volvo
· Ankai Bus
· BYD Company Ltd.
· Construcciones y Auxiliar de Ferrocarriles
· S.A.
· Daimler AG
· NFI Group Inc.
· Proterra
· VDL GROEP BV
· Yutong Group
· Zhongtong Bus Holdings Co., Ltd. and More
Regional Analysis
The market in Asia Pacific is projected to experience the fastest growth owing to the high demand of electric buses from countries such China, Japan, South Korea and India. Further, China has introduced many electric buses to reduce vehicle emissions.
Recent Developments
In April 2021, VDL has announced a supply contract of 32 electric buses to public transport company Hermes in Eindhoven. These buses will be operational from January 2022 in Eindhoven cityscape.
In February 2021, The Montgomery County Public Schools (MCPS) Board of Education approved a contract with Highland Electric Transportation. Highland Electric Transportation to deploy 326 Thomas Built electric school buses powered by Proterra.
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