Dublin, June 08, 2021 (GLOBE NEWSWIRE) -- The "Electric Bus Market by Propulsion (BEV, PHEV & FCEV), Application (Intercity & Intra-city), Consumer Segment (Fleet Operators & Government), Range, Length of Bus, Power Output, Battery Capacity, Component, Battery type & Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global electric bus market size is projected to grow from 81 thousand units in 2021 to reach 704 thousand units by 2027, at a CAGR of 43.1%.
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 the 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.
However, the COVID-19 pandemic is expected to have a slight impact on the electric bus market. Both the production and sales of new vehicles had come to a halt in Q1 and Q2 of 2020 across the globe as the whole ecosystem had been disrupted. OEMs had to wait until lockdowns were lifted to resume production, which affected their business.
Post the pandemic, the demand for mass transportation would increase, as people would return to their workplace, and use public transportation. In addition, component manufacturing is also suspended, and small Tier II and Tier III manufacturers could face liquidity issues. Nevertheless, another wave of COVID-19 due to newer strains may hamper the recovery in some countries.
Subsequently, electric bus manufacturers would need to adjust the production volume based on the COVID-19 scenario across different countries. In addition, component manufacturing too was suspended, and small Tier II and Tier III manufacturers are facing liquidity issues. Thus, production suspension during the outbreak and lower demand post the pandemic might have an unprecedented impact on electric bus providers
The electric bus market comprises major manufacturers such as BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden).
Premium Insights
- Attractive Opportunities in the Electric Bus Market:Increasing Demand for Fuel-Efficient and Emission-Free Vehicles is Expected to Boost the Electric Bus Market
- Asia-Pacific is Estimated to Account for the Largest Market Share in 2021
- Government Segment is Projected to be the Larger Market, 2021 Vs. 2027 (Units)
- Bev is Projected to be the Largest Segment in the Electric Bus Market, 2021 Vs. 2027 (Units)
- Up to 200 Miles is Projected to be the Larger Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)
- 9-14 M is Projected to be the Largest Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)
- Intracity is Projected to be the Larger Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)
- Up to 250 kW is Projected to be the Larger Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)
- Battery is Projected to be the Largest Segment of the Electric Bus Market, 2021 Vs. 2027 (USD Million)
- Up to 400 Kwh is Projected to be the Larger Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)
- Lithium-Iron-Phosphate Battery is Projected to be the Largest Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)
Market Dynamics
Drivers
- Increasing Demand for Emission-Free and Energy-Efficient Mass Transit Solutions
- Reduction in Battery Prices
- Lower Emission Compared to Other Vehicles
- Fuel Cell Product Lifecycle
Restraints
- High Development Cost
- Procurement Concerns Related to Raw Materials
- Concerns Over Battery Safety
Opportunities
- Government Support for Electrification of Public Transport
- New Revenue Pockets in Asia-Pacific and Northern Europe
- Implementation of Stringent Emission Norms and Environmental Regulations
Challenges
- Limited Battery Capacity
- Lack of Charging Infrastructure
- High Initial Investments
Porter's Five Forces
Existing and Upcoming Electric Bus Models
- Electric Bus Market Ecosystem
- Value Chain Analysis
- Average Selling Price Trend
- Patent Analysis
- Regulatory Overview
Case Study
- Adoption of Electric Buses as Public Transport in Finland
- Chile Government'S P0Licies for E-Buses as the Future of Public Transport
Trade/Registration Data
Revenue Shift for Electric Bus Manufacturers
Technology Analysis
- Innovative Charging Solutions
- Off-Board Top-Down Pantograph Charging System
- On-Board Bottom-Up Pantograph Charging System
- Ground-Based Static/Dynamic Charging System
- Packaged Fuel Cell System Module
- Methane Fuel Cells
Electric Bus Market: COVID-19 Impact
- Impact on Raw Material Supply
- COVID-19 Impact on Automotive Industry
- Oem Announcements
- Impact on Automotive Production
Electric Bus Market, Scenarios (2021-2027)
Company Profiles: Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View
Key Players
- Byd
- Yutong
- Proterra
- Vdl Groep
- Ab Volvo
- Daimler Ag
- Nfi Group
- Caf
- Ebusco Bv
- King Long
- Ankai
- Zhongtong Bus Holding
Other Key Players
- Blue Bird Corporation
- Gillig LLC
- The Lion Electric Company
- Tata Motors
- Ashok Leyland
- Changsha Sunda New Energy Technology Co. Ltd.
- Olectra Greentech
- Yinlong Energy
- Golden Dragon
- JBM Auto Limited
- Scania
- Irizar
- Iveco
- Skoda
- Blue BUS
- Bozankaya
- CaetanobUS
- Chariot Motors
- Carrosserie Hess Ag
- Heuliez BUS
- Hybricon
- Optare
- Otokar Otomotiv Ve Savunma Sanayi A.?
- Rampini Carlo
- Sor Libchavy
- Temsa
- Ursus BUS
- Van Hool Nv
- Karsan
For more information about this report visit https://www.researchandmarkets.com/r/1twou5