Growing environmental concerns and alarming air pollution across major cities of China, has prompted the government to take immediate steps to curb the levels of carbon emission. The Chinese government is highly supportive of a higher uptake of electric buses, which has significantly contributed to the expansion of the global electric buses market.
Albany, NY -- (SBWIRE) -- 09/09/2015 -- The featured report on Market Research Reports Search Engine (MRRSE) "Electric Buses 2015-2025" elaborates on the key trends of the global electric buses market along with valuable statistical anecdotes. The global electric buses market is expected to grow at a strong double-digit CAGR during the forecast period.
According to the technology experts in the automotive and transportation industries, rapid innovation along with growing demand for green technologies in the coming decade will fuel the growth of the global electric buses market.
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Another strong growth driver for the global electric buses market is the high demand for electric buses from China. Though the concept of electric buses is relatively new, it is displaying robust growth in China, especially in cities such as Shenzhen and Xi'an. Currently, China is also the key manufacturing hub for electric buses, with prominent vendors such as Zhongtong and BYD operating in this market. The strong demand for electric buses from China in combination with the consistent local supply chain is leading to wide adoption of these vehicles in China.
The other key driver of the global electric buses market is the improved overall performance of these vehicles. Electric vehicles are eco-friendly and promote green technology. Coupled with improved performance, the popularity and adoption of electric buses is bound to grow.
Nevertheless, the global electric buses market is hampered by the challenge of limited market penetration around the world. At present, the se buses are in use only in some highly developed cities in a handful of countries.
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The research study from IDTechEx on the global electric buses market is based on extensive interviews and research conducted in 2014-15. The report elaborates upon the key issues and trends in the global electric buses market in detail. It demonstrates the factors behind the delays that are risking the growth opportunities for fuel cell buses for nearly the last three decades.
Key facts and analysis about over 100 key vendors around the world have been covered in this report along with the details about EV events, which have been organized in countries such as the U.K., the U.S., Germany, Japan, and Taiwan during the past few months. The most prominent vendors dominating the market space are Proterra, BYD Motor Corp., Zhongtong Bus & Holding Co. Ltd., and Volvo AG. Other prominent vendors in the global electric buses market are Wright Group, Daimler AG, New Flyer Industries, Toyota Motor Corp, and Yutong Group.
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