The global electric bus market is segmented in terms of product type, and region. On the basis of product type, the electric buses are mainly classified as hybrid electric, purely electric, and plug-in electric buses.
New York, NY -- (SBWIRE) -- 06/15/2017 -- The global electric bus market is expected to grow at a CAGR of 28.0% during 2014 to 2020, to reach an estimated volume sales of 33,854 units by 2020.
Request to view Table of Content @ http://www.persistencemarketresearch.com/market-research/electric-bus-market/toc
Governments of various countries are focusing on no or low-pollution transportation systems to tackle rising pollution. This, in turn, is driving the electric bus market. Based on drive system, electric buses are categorized as pure electric, hybrid electric, and plug-in hybrid. Most of the electric buses running worldwide are hybrid electric due to their low cost as compared to its other electric counterparts. However, developed countries are focusing on increasing the number of pure electric buses in their fleets.
The global electric bus market is thriving mainly due to growing environmental concerns of the public and various governments. However, among developing countries, China is the only country taking concrete steps to curb vehicular pollution with the introduction of large number of electric buses. A high cost of electric buses is a key barrier for this industry. However, unstable crude oil prices and increasing focus of the transit agencies on minimizing operational costs are expected to lower the impact of the cost factor in the long term. In recent times, certain product launches by companies indicate the increasing level of competition in the industry. The investments of companies and transit agencies are being backed by funding from venture capitalists and governments. This is favoring the growth of electric bus market.
Unstable fuel prices and depleting crude oil reserves are influencing transport departments and transit agencies globally to increase the number of alternate and new energy vehicles. Some of the transit agencies in developed countries are considering long-term benefits as opposed to short-term costs while purchasing buses. Electric buses require high initial investment. However, their operational cost is significantly low as compared to that of conventional buses, as electricity is cheaper than diesel.
Air pollution caused by vehicles has been emerging as a serious concern for governments across the globe. This, in turn, is driving demand for public transport facilities with lower emissions. According to the World Health Organization (WHO), air pollution causes about 100,000 deaths every year in Europe, reducing life expectancy by an average of one year. Considering the negative impact of pollution on people, governments around the world are working to find solutions to reduce pollution levels. European countries such as France, the U.K., and Germany are emerging as key markets for electric and hybrid electric vehicles.
Sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/3703
The key companies operating in the global electric bus market include BYD Company Limited, Proterra, AB Volvo, Daimler AG, Solaris Bus & Coach S.A., Zhongtong Bus & Holding Co., Ltd, Ashok Leyland, EBUSCO, Alexander Dennis Limited (ADL), and Shenzhen Wuzhoulong Motors Co., Ltd.
To Buy Full Report for a Single User @ http://www.persistencemarketresearch.com/checkout/3703
Below is the segmentation carried out by Persistence Market Research for global market study on electric bus:
Market Size and Forecast by Region
Rest of the World (RoW)
About Persistence Market Research
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients business needs.
PMR stands committed to bringing more accuracy and speed to clients business decisions. From ready-to-purchase market research reports to customized research solutions, PMRs engagement models are highly flexible without compromising on its deep-seated research values.