Spain electric bus market is projected to grow at a considerable CAGR during the forecast period (2019-2025). The increasing awareness to reduce greenhouse gases and government incentives availability is the key factors to drive the growth of the market. The Spanish Government is aiming to reduce greenhouse gases emission by 2030. The government wants to lower the use of petrol and diesel vehicle and wants to shift towards electric vehicles to achieve a Zero-emission target.
Moreover, the government offers various incentives for the purchase or lease of electric vehicles. For the private individual electric buses, purchase incentives of $9,657 are available, for businesses electric buses purchase incentive up to $7,245 is there, and electric bus purchase for the Big companies- up to $6,035 incentives are available.
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Apart from this, due to the COVID-19 outbreak response, in June 2020, the MOVES II plan is available in Spain for the purchase of the electric vehicle. The incentive of $6,639 is available for the scraps of a 10-year-old vehicle and purchases a new electric vehicle. Incentive up to $4,828 is available for the new electric vehicle purchase. Besides, for the plug-in electric vehicles incentive up to $3,138 is available with scrapping old one and $2,293 is available for the purchase of new Plug-in electric vehicle without scrapping.
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Such availability of various incentive offers by the country’s government will encourage people to prefer electric vehicles. In addition, the government’s target to make Spain emission-free will support the development of the EV industry and hence will drive the growth of the Spain electric bus industry.
Market Coverage
- Market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- By Bus Type, By Battery Type, By End-User
- Region Covered-Spain
- Competitive Landscape- BYD Co. Ltd., Irizar Corp., Jiangsu Alfa Bus Co., Ltd., Kiepe Electric GmbH, and Solaris, among others
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment 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?
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
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
