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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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Spain Electric Bus Market Report Segment
By Bus Type
- Hybrid Electric Bus
- Fuel Cell Electric Bus
- Battery Electric Bus
By Battery Type
- Lithium-ion Batteries
- Others
By End-User
- Government
- Fleet Owner
The Report Covers
- Market value data analysis of 2018 and forecast to 2025.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global electric bus market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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