DUBLIN, Mar 08, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Automotive Electric Bus Market - Growth, Trends and Forecasts (2016 - 2021)" report to their offering.
The global electric bus market in is expected to grow at a CAGR of 24.6% during the forecast period and is expected to reach $85 billion by 2020. Electric buses have improved in drive quality and power and are now being designed exclusively for commercial purposes.
The global electric bus market is expected to grow at a fast pace during the forecast period majorly due to rising fuel prices and increased environmental concerns. APAC is leading the global electric bus market with increased government initiatives in countries like India, China, and Japan. However, the critical challenge in the incorporation of these models is the initial investment for these vehicles. In addition, the commonly perceived risk factors for operating electric buses are the limited range of these vehicles, high battery charging duration, high operational costs, and limited number of charging stations, which are creating concern for the adoption of these vehicles.
The major trends emerging in the market is increased emphasis on innovation and increased investments in R&D. For instance, Hino, a subsidiary of Toyota, is focusing on wireless electric buses using electromagnetic inductive charging technology. In this process, induction coils are embedded on the road, which generates power to the buses that move over them. Therefore, this technology eliminates the process of conventional non-autonomous charging mechanism. Manufacturers are also looking to develop electric bus models that are wireless as well as fully electric, and would be dependent only on Li-ion battery packs. Wireless technologies can help to reduce the cost of installing and maintaining the overhead wires in an electric bus.
The European market is one of the leading region for growth and development in the bus sector. However, considering the general output, Asia is one of the biggest producer and it contributes over two-third of the global output of buses and coaches. The dominance in the Asia-Pacific market is primarily driven by the increasing output of Chinese OEMs. On the contrast, Europe and North America produces one fourth of the total worldwide output. European Electric Bus Market other than Russia has become saturated. Due to the high capital investments, as well as challenging regulatory standards for buses and coaches in various geographies like that of North America, and Europe over the past few years, competition among the vendors become severe with a subsequent depleting profit margins.
- Anhui Ankai Automobile
- Nanjing Jiayuan EV
- New Flyer Industries
- Proterra Inc.
- Ryobi Bus
- Shandong Yi Xing Electric Automobile
- Suzhou Eagle Electric Vehicle
- Wright Group
- Zhongtong Bus
- Zhuhai Guangtong Automobile
Key Topics Covered:
2. Executive Summary
3. Market Overview And Technology Trends
4. Market Dynamics
5. Global Automotive Electric Bus Market By Vehicle Type
6. Global Automotive Electric Bus Market By Technology
7. Global Automotive Electric Bus Market By Consumer Segment
8. Global Automotive Electric Bus Market By Geography
9. Competitive Landscape
10. Key Vendor Analysis
11. Future Outlook Of The Market
For more information about this report visit http://www.researchandmarkets.com/research/lbs28m/global_automotive
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SOURCE Research and Markets