Electric bus market in China: Key market research findings
- High demand for li-ion batteries
- Inclination towards automatic transmission systems
Technavio has added a new market research report on the electric bus market in China, to its electric vehicles portfolio. The electric bus market in China is expected to reach over 79.05 thousand units by 2019, in terms of unit sales.
China is expected to become one of the prominent markets in the future for electric buses, that not only reduce air pollution and noise pollution but also offer improved overall performance. The improved drive quality and power in electric buses is leading to its wide adoption in the region. These buses are expected to be exclusively designed for commercial purposes.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
China is also one of the major players in the global automatic transmission market. In recent years, the demand for electric buses with automatic transmissions in China has been on the rise. Consequently, OEMS are preferring efficient, miniaturized, and lightweight transmission systems in the electric buses.
“Growing demand for li-ion batteries is a significant trend observed in the electric bus market in China. China constitutes roughly 78-82% of the global li-ion batteries in electric buses, and its demand is expected to surpass over 1.02 million kWh by 2019. Of late, the high demand for li-ion batteries is primarily driven by the growing prevalence of the hybrid electric bus segment,” says Sriram Mohan, Lead Analyst, Automotive, Technavio Research.
The leading vendors in the market are Anhui Ankai, BYD, Shenzen Wuzhoulong, Zhengzhou Yutong, Zhuhai Guangtong Automobile Company, and Zhongtong Bus. These vendors are playing a major role in modifying the transportation industry in China. Many companies are remanufacturing their old transit bus fleets and converting them to all-electric transit buses. Over the next four years, the key vendors will look to capitalize on the subsidies extended through government initiatives, which is expected to impact the prices of electric bus fleets in the region.
A more detailed analysis is available in the Technavio report, Electric Bus Market in China: Research Report and Forecast 2015-2019.
https://www.technavio.com/%3Cp%3E%3Cstrong%3EWe%20can%20customize%20repor…
