Global Electric Bus Market Trends, Size, Forecast - 2019-2025
The global electric bus market is estimated to grow at a CAGR of around 17% during the forecast period. The major factors contributing to the growth of the market include the government of the major countries is highly investing to reduce the emission of toxic gases in the environment. Therefore, the governments of different countries have implemented strict emission rules and regulations. These regulations are influencing the growth of the electric bus market. Even the governments of major countries are adopting electric buses in their cities as a step toward making a green environment. Electric buses are efficient and do not emit harmful substances.
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As per the International Energy Agency (IEA), the total electric bus sold in 2018 was 92,000 units with the total electric bus stock reached to 460000. China covers 99% of the electric bus market whereas India, Europe, and Latin America had shown growth in the procurement of the electric buses. The reduction in the prices of lithium batteries in 2018 by 18% from 2017 is another driving factor for the market to grow as batteries are the major cost components in the electric buses.
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Global Electric Bus Market Segmentation
By Bus Type
Hybrid Electric Bus
Fuel Cell Electric Bus
Battery Electric Bus
By Battery Type
Lithium-ion batteries
NiMH Batteries
Others
By End-User
Government
Fleet Owner
Regional Analysis
North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Company Profiles
AB Volvo
Allison Transmission, Inc.
Anhui Ankai Automobiles Co. Ltd
Ashok Leyland Corp.
Avass Group of Companies
BlueBird Corp.
BYD Co. Ltd.
Daimler AG
Ebusco B.V.
Ekova Electric A.S.
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