This market research report presents a detailed segmentation of the global electric bus market by charging technology (autonomous and non-autonomous) and by geography (the Americas, APAC, and EMEA). The leading vendors in this market are BYD, Ebus, Proterra, Wuzhoulong, and Yutong.
Technavio’s market research analysts expect the global electric bus market to cross around 21,000 units in sales by 2020. Key factors contributing to the growth of this market are the changes in standards set by regulatory bodies to control after effects of fuel emission and attempts from various governments to reduce their dependency on oil. APAC dominates the global electric bus market with a market share of over 65% due to the increasing popularity of electric vehicles in several Asian counties, especially China and Japan.
The new market research report from Technavio provides a breakdown and analysis of the global electric bus market.
“Partnerships between public and private bodies, electric bus manufacturers, and battery providers are key in converting the existing public transport into a completely electricity-dependent system. Transforming the existing transport system and making electric buses more reliable and efficient require huge investments. As a result, external funding, partnerships, joint ventures, and investments in the global electric bus market are growing,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
At present, the autonomous charging electric buses dominate the global electric bus market with a market share of around 75% during 2015, and is expected to grow further during the forecast period. The introduction of fast-charging technologies and the development of charging infrastructure are enabling autonomous charging buses to increase their range and duration of operation, thereby contributing its growth and popularity.
The key vendors in in the global electric bus market are BYD, Ebus, Proterra, Wuzhoulong, and Yutong. The global electric bus market is primarily dominated by five major vendors who continually compete with each other to gain maximum market shares. One of the key focus areas for manufacturers is working with government agencies as they are the biggest customers. The market is also characterized by rapid innovation and the development of advanced buses to meet the needs of specific regions. Chinese manufacturers dominate the market globally. Other vendors will have to use competitive pricing as a strategy to win a bigger share of the market.
A more detailed analysis is available in the Technavio report, Global Electric Bus Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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