China electric bus market is anticipated to grow at a significant CAGR of around 12.0% during the forecast period (2019-2025). China is a key player in the global electric bus market and is anticipated to sustain its dominance during the forecast period. In May 2020, more than 420,000 electric buses were in China which is about 99.0% of the global fleet. The keen focus on electrification of public transit with prevalent subsidies and national regulations is a major factor contributing towards the high market share of China in the global electric bus industry. The companies are persistent to increase their market base all across the globe. BYD Co. Ltd., is a major Chinese electric bus company operating in the country as well as globally.
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In a couple of years, the Chinese companies have increased their footprints globally and offering competitive products in the electric bus segment. For instance, in January 2021, BYD Ltd., has received orders to supply more than 1,000-unit pure-electric buses to the capital of Colombia, Bogota. For completion of this project, BYD will partner with local bus manufacturers Superpolo and BUSSCAR on the bus body parts. Moreover, in December 2019, BYD Co., Ltd. announced to double its bus manufacturing capacity in India and announced its plans to open bookings for its electric multi-purpose vehicle (MPV) product T3 soon, to foray into the emerging EV market in the country. As the Chinese companies are among the first player in the global electric bus industry, they are expected to maintain a significant market share in most of the country during the forecast period.
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Market Coverage
- The market number available for – 2018-2025
- Base year- 2019
- Forecast period- 2019-2025
- Segment Covered- By Bus Type, By Battery Type, By End-User
- Competitive Landscape- BYD Co. Ltd., AB Volvo, Anhui Ankai Automobile Co., Olectra, Higer Bus Co. Ltd.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
China Electric Bus Market Report Segment
By Bus Type
- Hybrid Electric Bus
- Fuel Cell Electric Bus
- Battery Electric Bus
By Battery Type
- Li-ion
- NiMH
- Others
By End-User
- Government
- Fleet Owner
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
