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 [$M and shipment analysis for
2013 – 2024]:
- Lithium Iron phosphate (LFP)
- Nickel Manganese Cobalt Oxide (NMC)
- Others
By Charging Infrastructure Type [$M and units shipment
analysis for 2013 – 2024]:
- Plug-In
- Conductive
- Inductive
By Length [$M and units shipment analysis for
2013 – 2024]:
- Small Bus (<10 Meter)
- Large Bus ( >10 Meter)
By End Use [$M and units shipment analysis for
2013 – 2024]:
- Public
- Private
By Region [$M and units shipment analysis for 2013 –
2024]:
- North America
o
US
o
Canada
o
Mexico
- Europe
o
Germany
o
France
o
Russia
o
United Kingdom
o
Italy
- Asia Pacific
o
China
o
Japan
- The Rest of the World
o
Brazil
o
Turkey
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 helpdesk@lucintel.com. Lucintel
offerings include Mass
Transportation, Transportation
Market Report, Opportunity
Screening and Analysis, Capital
Investment Feasibility and SWOT Analysis.
About Lucintel
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 (<10 Meter and >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?
