Dublin, March 22, 2022 (GLOBE NEWSWIRE) -- The "Global Electric Bus Market (Battery Electric Bus, Plug-in Hybrid Electric Bus and Fuel Cell Electric bus): Insights & Forecast with Potential Impact of COVID-19 (2022-2026)" report has been added to ResearchAndMarkets.com's offering.
The global electric bus market is forecasted to reach US$57.68 billion in 2026, experiencing growth at a CAGR of 11.51% during the period spanning from 2022 to 2026.
Growth in the global electric bus market was supported by factors such as rapid urbanization, increased oil prices, the surge in air pollution, government initiatives and falling prices of batteries. However, the market growth is expected to be restrained by high development costs, limited battery capacity and the growing popularity of natural gas-fueled buses.
The global electric bus market by propulsion can be segmented as follows: battery-electric bus, plug-in hybrid electric bus and fuel cell electric bus. In 2021, the dominant share of the global electric bus market was held by battery-electric buses, followed by plug-in hybrid electric buses and fuel cell electric buses. Factors such as an increase in demand for fuel-efficient vehicles, rising demand for the electric school bus and lightweight technology has helped in boosting the market growth.
While most of the industries worldwide suffered a negative impact from COVID-19, the electric bus market witnessed a mixed impact on it. Initially, the market witnessed a drop in passengers, since people lessen their mobility via public transport worrying to be in contact with the COVID-19 virus. In addition to this, the market faced disruption in the supply chain which acted as a challenge in manufacturing new buses. However, the market saw an increase in registration as many countries used this sector to impose recovery in their economy. Counties like China, India, and others, issued many regulations to support the electric bus market in full swing.
Scope of the report:
- The report provides a comprehensive analysis of the global electric bus market with potential impact of COVID-19
- The Chinese electric bus market has been analyzed
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth
- The competitive landscape of the market, along with the company profiles of leading players (BYD Company Limited, Daimler AG , Volvo Group, Yutong Bus Co Ltd., Proterra Inc. and Ebusco) are also presented in detail
Key Topics Covered:
1. Market Overview
1.1 Electric Bus
1.2 Advantages of Electric Bus
1.3 Disadvantages of Electric Bus
1.4 Types of Electric Bus
2. Impact of COVID- 19
2. Impact of COVID-19
2.2 Surge in Electric Bus Registrations
2.3 Supply Chain Disruption
2.4 Rising Environment Awareness
2.5 Post-COVID Scenario
3. Market Analysis
3.1 Global Electric Bus Market Forecast by Value
3.2 Global Electric Bus Market by Sales Volume
3.3 Global Electric Bus Market Forecast by Sales Volume
3.4 Global Electric Bus Market by Stock
3.5 Global Electric Bus Market Forecast by Stock
3.6 Global Electric Bus Market by Propulsion
4. China Market Analysis
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Rapid Urbanization
5.1.2 Increased Oil Prices
5.1.3 Surge in Air Pollution
5.1.4 Falling Prices of Batteries
5.1.5 Sustainable Alternative
5.2 Key Trends & Developments
5.2.1 Government Initiatives
5.2.2 Increase in Demand for Fuel-efficient Vehicles
5.2.3 Rising Demand for Electric School Buses
5.2.4 Light Weight Technology
5.3 Challenges
5.3.1 High Development Cost
5.3.2 Limited Battery Capacity
5.3.3 Growing Popularity of Natural Gas-fueled Buses
6. Competitive Landscape
7. Company Profiles
- BYD Company Limited
- Volvo Group
- Daimler AG
- Ebusco
- Yutong Bus Co Ltd.
- Proterra Inc.
For more information about this report visit https://www.researchandmarkets.com/r/uxwrkc
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