According to “Global Electric & Hybrid Electric Bus Market By Vehicle Type, By Technology, Competition Forecast and Opportunities, 2011-2021’’, global market for electric & hybrid electric bus is projected to grow at a CAGR of 17% during 2016 - 2021.
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Global electric & hybrid electric bus market by vehicle type, by technology 2011 2021 brochure
1. M a r k e t I n t e l l i g e n c e . C o n s u l t i n g
Global Electric & Hybrid Electric Bus Market By
Vehicle Type, By Technology, Competition Forecast
and Opportunities, 2011 -2021
10. I n d u s t r y B r i e f
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Electric & Hybrid Electric Buses Demand to Grow at 17% till 2021
Growing demand for zero emission vehicles and implementation of favourable government policies to drive growth in global electric &
hybrid electric bus market through 2021
According to TechSci Research report, “Global Electric & Hybrid Electric Buses Market, By Vehicle Type, By Technology,
Competition Forecast and Opportunities, 2011-2021’’, global market for electric & hybrid electric buses offers huge growth
potential. Major global economies such as the US, Canada, UK, Germany, France, China, etc., have already deployed a huge number
of new buses with electric and hybrid fuel systems. Major factors driving global electric & hybrid electric buses market include rising
pollution concerns, rapid developments in transportation sector, coupled with governments across various countries launching
initiatives to switch from clean energy buses comprising CNG/LPG buses to zero emission buses. Over the next five years, developed
economies offer tremendous potential for incorporation of these high priced electric & hybrid electric buses in their transportation
networks.
Leading electric & hybrid electric bus manufacturers across the globe have been constantly working on lowering cost of batteries in
order to boost adoption of electric & hybrid buses in various developed as well as major developing countries, globally. Few of the
leading electric & hybrid electric bus manufacturers such as Zhengzhou Yutong Group, BYD, Volvo, Zhongtong Bus, etc., have been
expanding their product portfolios and focusing on introduction of various models of electric & hybrid electric buses with advanced
features that are specific to a country’s requirements and road conditions. Moreover, demand for electric & hybrid electric buses is
growing for delivering public transport services in various countries across the world. With focus on strengthening public
transportation and reducing level of air pollution, government across various emerging nations are likely to deploy zero emission
buses in their respective public transportation fleets during the forecast period. Also, with government incentives and subsidy
schemes, transport agencies across various countries, have started adding more and more electric & hybrid electric buses in their
networks. In November 2013, ZeEUS (Zero Emission Urban Bus System), a demonstration project worth US$ 27.68 million, was
launched by International Association of Public Transport. Under the ZeEUS project, the association plans to validate the anticipated
positive outcomes of using electric & hybrid electric buses in major economies of the European region by 2017.
“Increasing urbanization and rapid developments in transportation industry across various major countries has contributed to rising
CO2 emissions worldwide. Vehicles with conventional fuel systems are among the leading contributors of pollution, globally. In order
to counter this issue, governments across various countries are taking initiatives to switch their public transportation systems to zero
emission vehicles. This is propelling demand for new energy buses such as electric and hybrid electric buses. Though hybrid electric
buses dominate global market for electric and hybrid electric buses, demand for pure electric buses is also anticipated to grow at a
robust pace over the next five years, predominantly due to rising demand for zero emission vehicles in developed countries.,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
12. R e p o r t O r d e r i n g
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Report Name: Global Electric & Hybrid Electric Bus Market By Vehicle Type,
By Technology, Competition Forecast and Opportunities, 2011-2021
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