Electric Bus Market Report | Electric Bus Market
The global electric bus sale is growing significantly and is expected to reach 92,145 units by 2024, expanding at a CAGR of 30.2% from 2018 to 2024. The key factor driving the growth of the electric bus markets is increasing use of electric vehicles to eliminate harmful carbon dioxide emission. Moreover, rising pollution concerns, rapid urbanization and innovation in transportation sector drives the growth of electric bus market across the globe.
Globally demand for electric bus has increased significantly, as many countries are focusing on adopting electric vehicles as a public transport. Government initiatives to switch to zero emission buses are creating a significant opportunity for many automotive OEMs. Increasing focus on renewable technologies and venturing of many competitors are the current market trends that would propel the growth of the electric bus market.
Purely electric segment is estimated to grow at a significant rate due to public interest and government initiatives in emission free transportation. The sales of above 10m buses are expected to increase compared to below 10m in size.
Geographically, Asia-Pacific is the leading market for electric buses and is expected to continue its dominance in the global electric bus market over the forecast period. The need for clean transportation is expected to drive the electric bus market in the Asia-Pacific.
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Last Update : Sep 14, 2018
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|Item Owner : Energias Market Research|
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