Market Research Reports Search Engine (MRRSE) has recently updated its massive report catalog by adding a fresh study titled "Global Electric Bus Market - Precise Study on Factors, Market Drivers and Key Players Strategies analyzed till 2026". This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2026. The report also targets important facets such as market drivers, challenges, latest trends, and opportunities associated with a growth of manufacturers in the global market for Electric Bus. Along with these insights, the report provides the readers with crucial insights on the strategies implemented by leading companies to remain in the lead of this competitive market.
The electric bus market is expected to surpass US$ 165 Bn by 2026, expanding at a CAGR of more than 24% during the forecast period. The market for electric buses is anticipated to expand at a significant growth rate during the forecast period, owing to rising concern of society toward the environment.
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The electric bus market is primarily driven by stringent emission norms across the globe. Rising emphasis by governments on public transport is anticipated to play an important role in the rapid expansion of the global electric bus market. Rising pollution levels in some mega cities, such as Shenzhen, London, Mexico City, Milan, Vancouver and Los Angeles, has already driven the market for electric buses significantly. Moreover, all the highly populous cities are likely to adopt electric buses to reduce greenhouse gases and other major pollutants in the environment. According to the World Health Organization (WHO), air pollution has been a major factor responsible for deaths and hospital admissions, thus the respective governments of countries in Europe are taking various steps to improve air quality, among which electrification of the automotive industry is a key step. The high price of electric buses has been a key restrain to the electric bus market; however, the price of buses has reduced due to significant reduction in the price of batteries in the last four years. Electric buses can be a value for money product in the long run, owing to lower running cost and higher lifespan of these vehicles, as compared to those vehicles that run on conventional fuels. Lower vibration from electric motors is a key factor behind the longer lifespan of electric vehicles.
The study provides a decisive view of the global electric bus market by segmenting it in terms of electrification type, bus type, component, battery, operation, and region. These segments have been analyzed based on present and future trends. Regional segmentation comprises current scenario along with forecast of the electric bus market. The forecast provided is based on the compilation of current trends as well as the expected scenario in future due to change in technological, geographical, political, regulatory, and economic factors such as the rapid expansion of the automotive industry. Stringent emission norms and present order of electric buses and major fleets for each region have been considered while forecasting the global market size of electric buses. Steps taken by the respective governments to encourage and promote the adoption of electric buses is considered for the estimation of market size.
The study includes profiles of major companies operating in the global electric bus market. The major share of the market is held by a few key players with the presence in China, and the rest is fragmented among all the other manufacturers. The key players are BYD Company Ltd., Yutong, New Flyer Industries Inc., Proterra Inc., Solaris Bus & Coach SA, Zhongtong Bus Holding Co., Ltd, Shenzhen Wuzhoulong Motors Co., Ltd, EBUSCO BV, Dongfeng Automobile Co., Ltd., Alexander Dennis, King Long, FAW Group, AB Volvo, Daimler AG, TATA Motors, Ashok Leyland, Nova Bus, and Foton Motor Inc. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, global presence, and recent developments. The global electric bus market is primarily driven by the stringency of emission norms and rising emphasis of governments to reduce pollution levels in the environment.
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The report provides the estimated market size for 2017 and forecast for the next nine years. The global market size has been provided in terms of value (US$ Mn) and volume (units). Market figures have been estimated based on electrification type, bus type, component, battery, operation, and region. Size and forecast for each major segment have been provided in terms of global and regional/country markets.
In-depth interviews and discussions were conducted with a number of key industry participants and opinion from leaders to compile the research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be highly reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, market reports, news articles, press releases, and webcasts specific to companies operating in the market, OICA (International organization of Motor Battery Manufacturers), ICCT (International Council on Clean Transportation), UITP (International Association of Public Transport), Automotive Research Association of India, Factiva, etc.
Primary research involves e-mail interactions and telephonic interviews for each market, category, segment, and sub-segment across regions. Primary interviews are conducted on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding
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