The electric bus market will reach US$75 billion by 2028, according to

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Selbyville, Delaware, March 21, 2022 (GLOBE NEWSWIRE) —

The electric bus market is expected to exceed USD 75 billion by 2028, as reported in a research study by Global Market Insights Inc. The market is expected to witness significant growth thanks to government initiatives to accelerate their transition to a clean transportation ecosystem.

The electric bus market faced various challenges in the first quarters of 2020 owing to the heavy transmission of the COVID-19 pandemic. Domestic trade and international trade have been affected due to the restrictions imposed by the majority of governments to minimize the spread of the virus. However, the market started to witness significant growth from mid-2021 owing to easings granted by governments due to decreasing number of infected patients and heavy investment by market leaders in R&D for new innovations of products.

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Improved fuel efficiency and long range are driving the sale of PHEV buses worldwide. Bus operators are focusing on expanding their fleet size with the addition of PHEV buses to improve their revenue in the market. For example, in April 2021, Volvo Buses received an order for 64 hybrid buses from Belgian transport operator OTW. The buses will be used in transport services in Liège, Charleroi, Walloon Brabant and Namur-Luxembourg.

The North America electric bus market is expected to witness high demand owing to the initiatives of various business sectors such as universities, F&Bs, and industrial enterprises to deploy electric buses in their regions. For example, in April 2021, the University of South Florida rolled out the Proterra 40-foot Catalyst E2 electric bus to its Tampa campus.

Electric bus industry players focus on building strategic partnerships to enhance their brand presence globally. For example, in December 2021, AB Volvo collaborated with Zero Emission Bus Rapid-Deployment Accelerator (ZEBRA) to accelerate adoption in major Latin American cities such as Santiago and Mexico City.

Some major findings of the Electric Bus Market report include:

  • The shift of consumers towards clean public transportation is creating a positive market outlook in North America.
  • The presence of established players in the market and their various business strategies to increase their net sales are driving the sales of electric buses in Europe.
  • Supportive government initiatives to minimize carbon footprint are driving the market growth in Asia Pacific.
  • The focus of fleet operators on electrifying their bus fleets is fueling sales of electric buses in the Latin America region.
  • Rising public and private investment in smart cities and charging infrastructure is creating strong market opportunities in the MEA.
  • The integration of advanced technologies, such as ADAS, autonomous driving and fleet connectivity, in electric buses is creating a favorable environment for the market.
  • The major players operating in the electric bus market are General Motors, AB Volvo, Zhengzhou Yutong Bus Co., Ltd., Anhui Ankai Automobile Co., Ltd., MAN SE, VDL Bus & Coach BV, Beiqi Foton Motor Co., ltd. ., SCANIA AB, Daimler AG, NFI Group Inc., Tata Motors, Ford Motor Company, Nissan Motor Corporation, BYD Company Ltd., Hyundai Motor Company, Volkswagen AG, BMW AG, Tesla, Inc., Mitsubishi Motors Corporation, Irizar SC , Toyota Motor Corporation, Iveco SpA and Honda Motor Co., Ltd.

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Partial chapters of the table of contents (TOC) of the report:

Chapter 2 Executive Summary
2.1 360° Overview of Electric Bus Industry, 2018 – 2028
2.2 Trade trends
2.3 Type trends
2.4 Battery Capacity Trends
2.5 Trends in seating capacity
2.6 Application trends
2.7 Regional trends
Chapter 3 Industry Overview
3.1 Industry Segmentation
3.2 Impact of COVID-19 on the Electric Bus industry landscape
3.3 Industry Ecosystem Analysis
3.4 Technology and innovation landscape
3.5 Investment Landscape
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Drivers of growth
3.7.1.1 Significant electrification of public transport worldwide
3.7.1.2 Low maintenance costs of electric buses
3.7.1.3 Increase government investment in the development of charging infrastructure in North America
3.7.1.4 Increased R&D investment in battery technology in Europe
3.7.1.5 Growing demand for environmentally friendly transport and mobility solutions in Asia Pacific
3.7.1.6 Shift in focus of fleet operators towards alternative fuels in MEA and Latin America
3.7.2 Industry Pitfalls and Challenges
3.7.2.1 High cost associated with electric buses
3.8 Analysis of growth potential
3.9 Porter’s analysis
3.10 PESTEL Analysis

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


        
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