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Opportunities For Global Electric Bus To Reach $71.9 Billion By 2024
According to a new market report published by Lucintel, the future of the global electric bus market looks promising with opportunities in the public and private transportation. The global electric bus market is expected to reach an estimated $71.9 billion by 2024 with a CAGR of 19.6% from 2019 to 2024. The major drivers for this market are increasing gasoline prices, government subsidies as tax benefits to promote electric buses, and stringent environmental regulations to reduce air pollution.
In this market, battery electric bus, hybrid electric bus, and plug-in-hybrid electric buses are used for public and private transportation. On the basis of its comprehensive research, Lucintel forecasts that battery electric bus will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to declining battery prices and government initiatives, such as tax benefits and subsidies to promote electric transportation.
Within this market lithium iron phosphate, nickel manganese cobalt oxide (NMC), lithium metal polymer, nickel-metal hydride, and lithium titanate oxide rechargeable ...
... batteries are used in electric bus. On the basis of its comprehensive research, Lucintel forecasts that lithium iron phosphate (LFP) will remain the largest segment due to its economical cost and long cycle life. Nickel manganese cobalt oxide (NMC) battery is expected to witness highest growth over the forecast period due to its faster charging rate and higher energy density properties.
APAC will remain the largest region due to growing concerns on environmental pollution, government subsidies and tax rebates, and heavy investment from automaker in electric bus development. Europe is expected to witness highest growth over the forecast period due to stringent European government regulations which ensures to reduce CO2 emissions by adding more electric buses to its existing fleet.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of low cost lithium ion batteries and integrated software solutions for better optimization of bus performance. Zhengzhou Yutong Bus, Zhuhai Yinlong, Zhongtong, CRRC, Nanjing Jinlong, Volvo, Solaris, VDL Bus & Coach, Proterra, and New Flyer are the major electric bus manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global electric bus market by vehicle type, battery type, charging infrastructure type, end use type, length type, and by region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Electric Bus Market 2019-2024: Trends, Forecast, and Opportunity Analysis”. The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global electric bus market by vehicle type, battery type, charging infrastructure type, end use, length type, and by region, as follows:
By Vehicle Type [$M and units shipment analysis for 2013 – 2024]:
• Battery Electric Bus
• Plug-In Hybrid Electric Bus
• Hybrid Electric Bus
By Battery Type [$M and shipment analysis for 2013 – 2024]:
• Lithium Iron phosphate (LFP)
• Nickel Manganese Cobalt Oxide (NMC)
By Charging Infrastructure Type [$M and units shipment analysis for 2013 – 2024]:
By Length [$M and units shipment analysis for 2013 – 2024]:
• Small Bus (10 Meter)
By End Use [$M and units shipment analysis for 2013 – 2024]:
By Region [$M and units shipment analysis for 2013 – 2024]:
• North America
o United Kingdom
• Asia Pacific
• The Rest of the World
This 250-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at firstname.lastname@example.org. Lucintel offerings include Mass Transportation, Transportation Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q. 1 What are some of the most promising, high-growth opportunities for the electric bus market by vehicle type (Plug-in hybrid electric bus, Hybrid electric bus, Battery electric bus), by battery type (Lithium Iron Phosphate, Nickel Manganese Cobalt Oxide (NMC), Others), by charging type (inductive, conductive, and plugin) by length type (10Meter), by end-use type (public and private), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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