Electric Bus Market Outlook and Projections, Worldwide, 2019-2027
DUBLIN, Jan. 10, 2020 /PRNewswire/ -- The "Electric Bus Market by Propulsion Type (BEV, PHEV, and FCEV), Application (Intercity and Intra-city), Consumer Segment (Fleet Operators and Government), Range, Length of Bus, Power Output, Battery Capacity, Component, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global electric bus market, by volume, is estimated to be 136,537 units in 2019. It is projected to grow at a CAGR of 27.2% to reach 934,717 units by 2027.
The electric bus market comprises major manufacturers such as BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden).
Increasing focus of countries on electrification of their public transport fleets and increasing awareness toward ecofriendly vehicles are the significant growth drivers which have led the global electric bus market
The advancements in battery pack technologies and electric powertrains are some of the major factors driving the growth of the electric bus and coach market. Many countries are focusing on electrification of their mass transit solutions, especially buses and coaches. Factors such as rise in pollution and environmental hazards, stringent government regulations, and stiff competition have compelled automotive OEMs to make fuel-efficient and environment-friendly buses.
Large volumes of electric buses used in public transport is likely to propel the growth of the 9-14m segment during the forecast period
In the electric bus market, by length of bus, the 9-14 m segment is projected to be the largest market during the forecast period in terms of volume. The 9-14 m segment is dominating the electric bus segment due to the large volumes of electric passenger buses used in public transport fleet. Most of the public transport fleets, especially in China, which accounts for almost 99% of the market have electric buses that are 9-14 m in length. Also, many of the leading OEMs such as BYD, Proterra, and Yutong have been providing electric buses in the 9-14 m length range. Countries that are planning to replace existing public fleets with electric ones are considering electric buses of the same lengths as well.
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 the presence of leading OEMs in the country as well, resulting in exponential growth of the Asia Pacific electric bus and coach market. The favorable regulations for electric buses, availability of electric and electronics components, and rapidly growing charging infrastructure are projected to boost the electric bus market in the region.
Middle East & Africa bus market is expected to register the fastest growth during the forecast period
The Middle East & Africa, which includes Egypt, South Africa, and UAE, is projected to be the fastest-growing market during the forecast period. The increasing demand for electric mass transit solutions, renowned OEMs expanding in the region, and government support are factors driving the Middle East & Africa electric bus market.
For instance, in November 2019, Egypt's Arab Organisation for Industrialisation (AOI) started its first smart electric bus in the country with the help of Shanghai Wanxiang Group, China. Also, in May 2019, Foton Motor signed an agreement with Egypt's Military Production Ministry to manufacture more than 2,000 electric buses in the country over the next four years.
Middle East & Africa has become a key region for OEMs to explore, as major countries in the Middle East & AfricaEgypt, Africa, and UAE, have high demand for public transport due to the increasing number of tourists visiting these countries. Thus, governments are planning to replace the existing public transport with more efficient and emission-free public transport because of emission concerns.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in the Electric Bus Market 4.2 Electric Bus Market Growth Rate, By Region 4.3 Electric Bus Market, By Consumer Segment 4.4 Electric Bus Market, By Propulsion 4.5 Electric Bus Market, By Vehicle Range 4.6 Electric Bus Market, By Length of Bus 4.7 Electric Bus Market, By Application 4.8 Electric Bus Market, By Power Output 4.9 Electric Bus Market, By Component 4.10 Electric Bus Market, By Battery Capacity
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasing Demand for Emission-Free and Energy-Efficient Mass Transit Solutions 5.2.1.2 Reduction in Battery Prices 5.2.2 Restraints 5.2.2.1 High Development Cost 5.2.3 Opportunities 5.2.3.1 Government Support for Electrification of Public Transport 5.2.3.2 New Revenue Pockets in Asia Pacific and Northern Europe 5.2.4 Challenges 5.2.4.1 Limited Battery Capacity 5.2.4.2 Lack of Charging Infrastructure 5.3 Electric Bus Market, Scenarios (2020-2027) 5.3.1 Electric Bus Market, Most Likely Scenario 5.3.2 Electric Bus Market, Optimistic Scenario 5.3.3 Electric Bus Market, Pessimistic Scenario
6 Industry Trends 6.1 Introduction 6.2 High Voltage Battery 6.3 Smart Electric Drive 6.4 Technology Analysis 6.5 Innovative Charging Solutions 6.5.1 Off-Board Top-Down Pantograph Charging System 6.5.2 On-Board Bottom-Up-Pantograph Charging System 6.5.3 Ground-Based Static/Dynamic Charging System 6.6 Porter'S Five Forces Model Analysis
7 Electric Bus Market, By Propulsion Type 7.1 Introduction 7.2 Operational Data 7.2.1 Assumptions 7.2.2 Research Methodology 7.3 BEV 7.3.1 Increasing Demand for Zero-Emission Vehicles Will Boost the BEV Segment 7.4 FCEV 7.4.1 FCEV Buses Are Equipped With Advanced Technologies Which Will Drive the Market 7.5 PHEV 7.5.1 Asia Pacific is Projected to Dominate the PHEV Segment 7.6 Key Industry Insights
8 Electric Bus Market, By Vehicle Range 8.1 Introduction 8.2 Operational Data 8.2.1 Assumptions 8.2.2 Research Methodology 8.3 Up to 200 Miles 8.3.1 Chinese Bus Fleets Are Dominated By Electric Buses Having Range Up to 200 Miles 8.4 Above 200 Miles 8.4.1 Advancements in Battery Technologies to Boost the Above 200 Miles Segment 8.5 Key Industry Insights
9 Electric Bus Market, By Length of Bus 9.1 Introduction 9.2 Operational Data 9.2.1 Assumptions 9.2.2 Research Methodology 9.3 Less Than 9 M 9.3.1 Mini Buses Are Quite Useful On Compact Roads 9.4 9-14 M 9.4.1 High Adoption Rate of Electric Buses as Public Transport Fleet is Driving this Segment 9.5 Above 14 M 9.5.1 Increasing Number of Daily Commuters in Asia Pacific to Drive the Above 14 M Segment 9.6 Key Industry Insights
10 Electric Bus Market, By Consumer Segment 10.1 Introduction 10.2 Operational Data 10.2.1 Assumptions 10.2.2 Research Methodology 10.3 Private Fleet Operator 10.3.1 Government Support and Low Cost of Operation to Boost the Private Fleet Operator Segment 10.4 Government 10.4.1 Governments are Emphasizing On Adopting Electric Buses in Public Transport Fleets 10.5 Key Industry Insights
11 Electric Bus Market, By Application 11.1 Introduction 11.2 Operational Data 11.2.1 Assumptions 11.2.2 Research Methodology 11.3 Intercity 11.3.1 Developments in Battery Technologies and Charging Solutions to Drive the Intercity Segment 11.4 Intracity 11.4.1 High Adoption Rate of Electric Buses in Local Public Transport Fleets to Boost the Asia Pacific Market 11.5 Key Industry Insights
12 Electric Bus Market, By Battery Capacity 12.1 Introduction 12.2 Operational Data 12.2.1 Assumptions 12.2.2 Research Methodology 12.3 Up to 400 Kwh 12.3.1 High Adoption Rate of Affordable Electric Buses to Boost the Up to 400 Kwh Segment 12.4 Above 400 Kwh 12.4.1 Chinese Electric Bus Fleet is Dominated By Buses With More Than 400 Kwh Battery Capacity 12.5 Key Industry Insights
13 Electric Bus Market, By Power Output 13.1 Introduction 13.2 Operational Data 13.2.1 Assumptions 13.2.2 Research Methodology 13.3 Up to 250 Kw 13.3.1 Public Transport Buses to Boost the Up to 250 Kw Segment 13.4 Above 250 Kw 13.4.1 Increasing Demand for Electric Coaches With High Power Output to Drive the Market 13.5 Key Industry Insights
14 Electric Bus Market, By Component 14.1 Introduction 14.1.1 Assumptions 14.1.2 Research Methodology 14.2 Motor 14.3 Battery 14.4 Fuel Cell Stack 14.5 Key Industry Insights
15 Electric Bus Market, By Region 15.1 Introduction 15.2 Asia Pacific 15.3 Europe 15.4 North America 15.5 Latin America 15.6 Middle East & Africa
16 Competitive Landscape 16.1 Overview 16.2 Market Ranking Analysis 16.3 China Market Share Analysis, 2019 16.4 Competitive Scenario 16.4.1 New Product Developments 16.4.2 Mergers & Acquisitions 16.4.3 Partnerships/Supply Contracts/Collaborations/Joint Ventures/License Agreements 16.4.4 Expansions 16.5 Competitive Leadership Mapping 16.5.1 Visionary Leaders 16.5.2 Innovators 16.5.3 Dynamic Differentiators 16.5.4 Emerging Companies 16.6 SME Competitive Leadership Mapping 16.6.1 Progressive Companies 16.6.2 Responsive Companies 16.6.3 Dynamic Companies 16.6.4 Starting Blocks 16.7 Winners Vs. Tail-Enders
17 Company Profiles 17.1 BYD 17.2 Yutong 17.3 Proterra 17.4 VDL Groep 17.5 AB Volvo 17.6 Daimler Ag 17.7 NFI Group 17.8 CAF 17.9 Ebusco Bv 17.10 King Long 17.11 Ankai 17.12 Zhongtong Bus Holding 17.13 Other Key Players 17.13.1 North America 17.13.1.1 Blue Bird Corporation 17.13.1.2 Gillig Llc 17.13.1.3 the Lion Electric Company 17.13.2 Asia 17.13.2.1 Tata Motors 17.13.2.2 Ashok Leyland 17.13.2.3 Changsha Sunda New Energy Technology Co. Ltd. 17.13.2.4 Olectra Greentech 17.13.2.5 Yinlong Energy 17.13.2.6 Golden Dragon 17.13.2.7 Jbm Auto Limited 17.13.3 Europe 17.13.3.1 Scania 17.13.3.2 Irizar 17.13.3.3 Iveco 17.13.3.4 Skoda 17.13.3.5 Bluebus 17.13.3.6 Bozankaya 17.13.3.7 Caetanobus 17.13.3.8 Chariot Motors 17.13.3.9 Carrosserie Hess Ag 17.13.3.10 Heuliez Bus 17.13.3.11 Hybricon 17.13.3.12 Optare 17.13.3.13 Otokar Otomotiv Ve Savunma Sanayi A. 17.13.3.14 Rampini Carlo 17.13.3.15 Sor Libchav 17.13.3.16 Temsa 17.13.3.17 Ursus Bus 17.13.3.18 Van Hool Nv 17.13.3.19 Karsan
18 Recommendations 18.1 Asia-Pacific will be a Major Electric Bus Market 18.2 Electric Bus Batteries can be a Key Focus for Manufacturers 18.3 Conclusion
For more information about this report visit https://www.researchandmarkets.com/r/pgrdl5
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