Published Date : May 24, 2016
The global market for electric buses is experiencing a steady rise. The alarming increase in the GHG emission levels by vehicles running on diesel and petrol has raised concerns of people across the world, which is resulting in their shift from traditional fuel-based vehicles to electric vehicles. Electric buses, being one of major eco-friendly transportation mediums, are likely to gain from this factor significantly over the next few years.
The rapid depletion of traditional fuel sources and the increasing price of crude oil is also expected to boost the market for electric buses across the world in the near future.
Asia Pacific Leads Global Electric Buses Market
North America, Europe, Asia Pacific, and the Rest of the World are the major regional markets for electric buses. Asia Pacific has emerged as the market leader among them. Analysts expect this regional market to report the highest growth in the coming years. India, China, Japan, and South Korea drive the electric buses market in Asia, among which China has acquired the leading position. The presence of a huge population base and the initiation of government-supported clean transportation drive are the key factors propelling the China market for electric buses.
The North America market for electric buses is led by Canada and the U.S. The U.K., France, Spain, and Germany dominates the Europe electric buses market and Russia, Brazil, and the Middle East drive the electric bus market in the Rest of the World.
Aids from Venture Capitalists Helping Companies Grow in Global Electric Buses Market
The global market for electric buses is highly competitive. Major market participants are focusing on novel product launches and advancements in technologies utilized in their products to strengthen their position in this market. Companies are also partnering with venture capitalists in order to obtain funds and capital investments for the expansion of their businesses.
The key manufacturers of electric buses across the world are Shenzhen Wuzhoulong Motors Co. Ltd., Alexander Dennis Ltd., BYD Co. Ltd., EBUSCO, Proterra Inc., Daimler AG, Solaris Bus & Coach S.A., Ashok Leyland Ltd., Zhongtong Bus & Holding Co. Ltd., and AB Volvo (publ).