Pune, Aug. 19, 2020 (GLOBE NEWSWIRE) -- The global electric bus market volume to reach 256 thousand units by 2027, exhibiting a CAGR of 11.58% during the forecast period. Increasing interest in e-mobility solutions for urban areas will create multiple opportunities in this market, shares Fortune Business Insights™ in its report, titled “Electric Bus Market Size, Share & COVID-19 Impact Analysis, By Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, and Fuel Cell Electric Vehicle), and Regional Forecasts, 2020-2027”. The transport sector is a notable contributor to air pollution worldwide. According to the Asian Development Bank (ADB), this sector accounted for 18% of all manmade carbon dioxide emissions in 2015.
Browse Detailed Market Insights of this Research Report with TOC:
https://www.fortunebusinessinsights.com/electric-bus-market-102021
Furthermore, the International Energy Agency (IEA) predicts that by 2060, emissions from transport activities will rise by 50%, especially from trucks and buses. To address this, international bodies are taking decisive efforts to advance the cause of sustainable mobility. For instance, the UN Environment Program (UNEP) partnered with the International Council on Clean Transportation (ICCT) to identify and remove barriers to build cleaner public transport systems, such as electric buses, across the globe. Such initiatives are expected to augment the growth of this market in the coming years.
The report states that the global market volume stood at 198 thousand units in 2019 and also contains the following:
- Tangible insights into the market trends, drivers, and restraints;
- Actionable analysis of the various market segments;
- Careful examination of the regional dynamics shaping the market; and
- In-depth profiling and comprehensive evaluation of the key market players and their strategies.
Request a Sample Report with Impact of COVID-19 Analysis:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/electric-bus-market-102021
Market Restraint
COVID-induced Slump in Demand for Public Transport to Inhibit Market Growth
The electric bus market growth is premised on the growing utilization of public transport systems, especially in emerging economies. However, the COVID-19 pandemic has triggered a sudden drop in the demand for buses around the world as travelers are fearful of catching the virus in such crowded spaces. In a recent report, the World Bank has revealed that travel restrictions for non-essential purposes within cities has shrunk the demand for public transport between 25% and 50% in many cities worldwide. An article published in the newspaper Times of India reported that in San Francisco ridership in public buses and trains has dropped by a whopping 85%, while in the UK roughly 50% of commuters are less likely to use public transport after lockdowns have been lifted. Additionally, social distancing and overall decline in economic activities have crippled the manufacturing sector. As a result, production of these buses and other vehicles has considerably decreased. Cumulatively, these factors are likely to inhibit the growth of this market throughout 2020.
Regional Insights
Asia Pacific to Lead Market Share Backed by China’s Flourishing Market
In 2019, the market volume in Asia Pacific stood at 194 thousand units and the region is poised to dominate the electric bus market share during the forecast period. This is mainly attributable to the rapid growth and expansion of the e-mobility sector in China. For instance, China is home to 99% of the world’s electric buses. Supporting this transition have been the favorable governmental policies that have encouraged innovation and accelerated the movement towards sustainable development.
In Europe, the market will be primarily driven by the stringent implementation of emissions regulation norms and quick adoption of green mobility solutions. Similar trends are anticipated to fuel the market in North America, where the emphasis to reduce air pollution is intensifying.
Competitive Landscape
Strategic Investments in R&D by Key Players to Spur Innovation
Key players in this market are steadily ramping up their investments in R&D to develop and launch innovative mobility solutions for customers. Some companies are also entering into strategic alliances with other players to broaden their sales network and expand their global market presence.
Industry Developments:
- June 2020: Daimler released the Mercedes-Benz eCitaro G, its full-electric articulated bus, to strengthen its electric type of bus offerings of the Citaro city bus family. Incorporated with solid-state batteries, Daimler aims at speeding the transition towards emission-free local transport with its new product.
- April 2020: BYD received an order for 40 zero-emission electric buses from the Anaheim Transport Network (ATN) in California. The new fleet will bolster ATN’s efforts at making one of the nation’s busiest transport networks free of emissions.
List of the Leading Companies Profiled in the Electric Bus Market Report are:
- Iveco (Turin, Italy)
- Daimler AG (Stuttgart, Germany)
- AB Volvo (Gothenburg, Sweden)
- BYD Co., Ltd (Shenzen, China)
- Scania AB (Södertälje, Sweden)
- New Flyer Industries (Winnipeg, Canada)
- Proterra, Inc. (Burlingame, California, United States)
Order a Complete Research Report:
https://www.fortunebusinessinsights.com/checkout-page/102021
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Electric Bus Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
Check Discount:
https://www.fortunebusinessinsights.com/enquiry/check-discount/electric-bus-market-102021
Have a Look at Related Research Insights:
Electric Trucks Market Size, Share & Industry Analysis, By Truck Type (Light-duty Trucks, Medium-duty Trucks, Heavy-duty Trucks), By Electric Vehicle Type (Battery-Electric, Hybrid Electric, Plug-in Hybrid), By Application (Logistics, Municipal)and Regional Forecast, 2019-2026
Electric Scooter Market Size, Share & Industry Analysis, By Product Type (Electric Scooter, Electric Motorcycle), By Battery Type (Lead Acid, Li-ion), By Voltage Type (48-59V, 60-72V, 73-96V, Above 96V), Others and Regional Forecast, 2019-2026
Electric Vehicle Market Size, Share & Industry Analysis, By Type (Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV), and Others), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecast, 2019-2026
Electric Bike (E-Bike) Market Size, Share & Industry Analysis, By Propulsion Type (Pedal Assist, Throttle), By Battery Type (Lead Acid, Lithium-Ion, Nickle Metal Hydride, and Others) and Regional Forecasts, 2019-2026
Automotive Electric Vacuum Pump Market Size, Share & Industry Analysis, By Electric Vehicle Type (BEV, HEV, PHEV), By Vehicle Type (Passenger Car, LCV, HCV) and Regional Forecasts, 2019-2026
Automotive Electric Water Pump Market Size, Share & Industry Analysis, By Pump Type (12V, 24V), By Vehicle Type (Passenger Car, Commercial Vehicle, Electric Vehicle) and Regional Forecast, 2019-2026
Fuel Cell Vehicle Market Size, Share and Global Trend, By Vehicle Type (Passenger Cars, Commercial Vehicles, Buses & Coaches), By End-User (Private, Commercial), and Regional Forecast, 2019-2026
About Us
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand current competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/electric-bus-market-9541