Electric Bus Market was valued at 112039.68 Units in 2022, and it is expected to reach 1383480.32 Units by 2029, exhibiting a CAGR of 43.2% during the forecast period (2023-2029)
Electric Bus Market Overview
A prominent global market research firm has recently released a new market research report focusing on the Electric Bus market. The report presents comprehensive data and visual representations to analyze both regional and global markets. It sheds light on the market’s objectives and includes detailed information on leading competitors, their market value, current trends, strategies, targets, and products. The report provides insights into the market’s recent growth and historical data, offering valuable information.
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Electric Bus Market Scope
The research report conducts an in-depth analysis of the market’s trending competitors, their growth, and dynamics. It provides insights into the regional and global market value and demand, helping to understand the competitive landscape and market potential in terms of production, demand, and supply. The segmentation analysis encompasses key factors such as psychographic, demographic, geographic, and behavioral aspects, which inform marketing strategies, targeted products, offers, and customer experiences. Porter’s analysis assists in determining an organization’s competitive position and improving profitability. Pestle analysis is conducted to assess the validity of existing products and services within the contextual data. SWOT analysis is utilized to evaluate the internal and external factors that contribute to a company’s strengths, weaknesses, advantages, and disadvantages. This report provides a comprehensive and informative overview of the Electric Bus market.
Electric Bus Market Segmentation
by Propulsion Type
The market is divided into battery electric vehicles, fuel cell electric vehicles, and plug-in hybrid electric vehicles based on the method of propulsion. The market share for battery-electric vehicles was 91.4% in 2022. Onboard battery-electric buses, large-capacity battery packs store electricity. The electrical motor and all onboard electronics are powered by those batteries thanks to the way these buses are built. Since hydrogen fuel cell buses can be refilled more quickly and have greater ranges than conventional e-buses, the fuel cell electric vehicle category is also anticipated to grow dramatically during the projected period. The category of plug-in hybrid electric vehicles is anticipated to grow substantially during the projected period.
The market is divided into two categories based on battery capacity: up to 400 kWh and over 400 kWh. The category with less than 400 kWh had the most market share in 2022. Since they can be immediately fast-charged on a regular basis, buses with battery capacity of up to 400 kWh are much less expensive, lighter, and more efficient. The predominance of this section can be attributed to several elements. The over 400 kWh segment is expected to experience steady market growth due to its ability to cover greater distances on a single charge.
Electric Bus Market Key Players
1. BYD Company Ltd.
2. Yutong
3. New Flyer Industries Inc.
4. Proterra Inc.
5. Solaris Bus & Coach SA
6. Zhongtong Bus Holding Co., Ltd.
7. Shenzhen Wuzhoulong Motors Co., Ltd.
8. EBUSCO BV.
9. Dongfeng Automobile Co., Ltd
10. Alexander Dennis
11. King Long
12. FAW Group
13. AB Volvo
14. Daimler AG
15. TATA Motors
16. Ashok Leyland
17. Nova Bus
18. Foton Motor Inc.
19. Ashok Leyland Electric Bus.
20. JBM Solaris ECOLIFE.
21. Electric Bus K9.
22. SKYPAK XL Bus.
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Electric Bus Market Regional Analysis
The report offers formal, functional, and vernacular regional analyses, focusing on the areas of business with the highest demand, such as Asia Pacific, North America, Latin America, the Middle East, Europe, and Africa. The analysis provides insights into different targets, strategies, and market values for each region.
Key Questions answered in the Electric Bus Market Report are:
- What is the definition of the Electric Bus Market?
- What is the forecast period for the Electric Bus Market?
- What is the competitive landscape of the Electric Bus market?
- Which region holds the largest market share in the Electric Bus Market?
- What are the opportunities for the Electric Bus Market?
- What factors are influencing the growth of the Electric Bus market?
- Who are the key players in the Electric Bus market?
- Which company holds the largest share in the Electric Bus market?
- What will be the CAGR of the Electric Bus market during the forecast period?
- What key trends are expected to emerge in the Electric Bus market in the coming years?
Key Offerings:
- Market Share, Size, and Revenue Forecast|2022-2029
- Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
- Market Segmentation: Detailed analysis by Electric Bus
- Landscape: Leading key players and other prominent participants
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company comprising professionals from various industries. Our coverage spans medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, automotive, chemical products, general merchandise, beverages, personal care, and automated systems, among others. We provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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