Electric & Hybrid Electric Buses Market Scope
Electric & Hybrid Electric Bus is a bus that does not have traditional ICE engine for its propulsion and is completely electric. Electric & Hybrid electric bus market is driven by an on-board electric motor that receives the power from on-board batteries or set of batteries. Also, these type of buses are considered as eco-friendly as they do not produces any pollutants are also economical when compared with traditional gasoline/diesel buses. The global Electric & Hybrid Electric Buses market is expected to witness high demand in the forecasted period due to surging in demand for fuel-efficient, high-performance, and low-emission buses. Additionally, stringent government rules & regulations toward vehicle emission as well as reduction in battery prices will help to boost the global market in the forecasted period.
The Electric & Hybrid Electric Buses market study is segmented by Type (Light Duty Electric, Hybrid Electric Bus, Heavy Duty Electric and Hybrid Electric Bus), by Application (Industry, Commercial and Others) and major geographies with country level break-up.
The Players having a strong hold in the market are Daimler AG Zhengzhou Yutong Group Co. Ltd. BYD Company Limited King Long United Automotive Industry Co. Ltd.. Research Analyst at AMA estimates that Chinese Players will contribute to the maximum growth of Global Electric & Hybrid Electric Buses market throughout the predicted period.
Daimler AG (Germany), AB Volvo (Sweden), BYD Company Ltd. (China), Xiamen King Long United Automotive Industry Co., Ltd. (China), Solaris Bus & Coach sp. z o.o. (Poland), Ebusco (The Netherland), Proterra (United States), NFI Group Inc. (Canada), Zhengzhou Yutong Group Co., Ltd.(China), Shenzhen Wuzhoulong Motors Co., Ltd (China) and Zhongtong Bus Holding Co., Ltd. (China) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Electric & Hybrid Electric Buses market by Type, Application and Region. On the basis of Type, Electric are dominating the market in the year 2019 where as Hybrid stood as second largest market share.
On the basis of application, Government segment is dominating the market in the year 2019 where as Fleet Owners segment stood as second largest market.
On the basis of geography, the market of Electric & Hybrid Electric Buses has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
20th Jan, Xiamen King Long United Automotive Industry Co., Ltd. has delivered 92 units king long electric city buses in Ningde city for operation. According to King Long, 48 units of electric buses delivered to Ningde have achieved higher environmental friendliness and higher energy efficiency.
8th Jan, BYD got another order for 596 pure electric buses from Colombia, adding the 64 units delivered in September 2019, 470 units delivered in late December 2020, and 406 units won in December 2020, the total number of orders exceeds 1,500 units.
The standards and rules adopted by the EU are legally binding for the single European states and do not need further implementation into national laws. The general framework for motor vehicles is enacted by the directive 2007/46/EC. It is specified by single regulations and directives which in turn adapt the standards set by the UNECE. For instance directive 2009/40/EC is concerned with the technical supervision of vehicles and their parts. Additionally to the regulations by the UNECE, the EU has one of the world’s most restrictive GHG emission standards for commercial vehicles as part of the Euro-6 norm, which reduces the nitrogen oxides additionally by 80% compared to Euro-5. Other emission standards include the restriction of the noise level in urban areas regulated by directive 2002/49/EC.
- Increasing Demand due to Reduction In Battery Prices
- Stringent Government Rules And Regulations Toward Vehicle Emission
- High Adoption of Hydrogen Fuel Cell Buses
- Rise In Demand For Fuel-Efficient, High-Performance, And Low-Emission Buses
- New Revenue Pockets in Developing Regions of Asia Pacific
- The Increasing Concern Related to the High Development Cost
Key Target Audience
Manufacturers, Distributors, Traders, & Suppliers, Investors, Regulatory & Government Bodies and Others
Frequently asked questions:1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.2. How big is the Electric & Hybrid Electric Buses Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2025.3. What is expected growth rate?
According to AMA, the Global Electric & Hybrid Electric Buses market is expected to see growth rate of 18.53%.