Automotive Electric Bus Market 2019 Global Automotive Industry Analysis, Growth, Size, Share, Trends | Growing At 22.8% CAGR By Forecast to 2023
Market is expected to reach at market size of USD 82.5 billion by the end of forecast period with CAGR of 22.8% between 2017 and 2023.
Pune, India – March 27, 2019 /MarketersMedia/ —
Market Synopsis of Automotive Electric Bus Market
Rising environmental concerns and increasing government investments in fuel saving technologies & alternative fuel vehicles are driving the growth of the global electric bus market. Increasing number of global bus manufacturers are opting to manufacture electric & hybrid electric buses as substitutes to diesel fueled buses, thus pushing the market towards growth. Benefits such as thermal comfort and noise reduction offered by these will further enhance automotive electric bus market. Electric & hybrid electric buses helps to reduce the effects of solar heat build-up inside the car as well as turn into a filter for disruptive noises like car horns and construction work.
Whereas, high cost associated with manufacturers, lack of awareness about usability and benefits hamper the growth of the market, significantly.
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The Major Players Operating in The Market of Global Automotive Electric Bus Are:
Daimler AG (Germany), Anhui Ankai Automobile Co., Ltd.( China), Volvo Group (Sweden), Wright Enrichment Inc(U.S.), Shandong Yi Xing Electric Auto Co.,Ltd (China), Zhongtong Bus Holding Co., Ltd.( China), BYD Auto Co., Ltd ( China), Iveco (Italy), Ebus (Singapore) and Beiqi Foton Motor Co., Ltd.(China).
Market is expected to reach at market size of USD 82.5 billion by the end of forecast period with CAGR of 22.8% between 2017 and 2023.
Market Segmentation:
By charging technology, the global Electric Bus segment is segmented into autonomous and non-autonomous.
By vehicle type, the Electric Bus market has been segmented into light duty electric, heavy duty electric, and hybrid electric bus.
Regional Analysis
Asia-Pacific is dominating the automotive electric bus market with increased government initiatives in countries such as India, China, and Japan. China is the biggest market for electric buses, and the government is actively promoting the replacement of conventional buses with electric ones. China is also developing the required infrastructure to support the use of electric buses.
Europe is known as one of the one of the leading regions for growth and development in the bus sector. Governments of various countries in Europe are taking initiatives and steps to curb pollution, which in turn is boosting demand for electric and hybrid electric vehicles.
The report for Global Automotive Electric Bus Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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