Global Electric Bus Market to Expand at 26.77% CAGR 2016-2020 owing to Increased Demand for Autonomous Charging Technology

Published Date : Jul 05, 2016

ALBANY, NY, July 05, 2016A recent research report on the global electric bus market has been added to the repository of The report, titled “Global Electric Bus Market 2016-2020,” offers insightful reports of the market and projects the market to expand robustly at a CAGR of 26.77% during the period from 2016 to 2020. The report identifies the various growth prospects of the global electric bus market and studies the market on the basis of charging technology and region. Profiles of some of the major market players have been included in the report.

With the increasing adverse effects of global warming due to emission of greenhouse gases, governments across nations are focusing on the usage of electric vehicles. The first electric bus was developed in 2009. Earlier, these buses were of smaller sizes. However, technological advancements have led to the development of longer and heavier buses.

The report states that the implementation of stringent environmental regulations by governments to reduce the impact of global warming has propelled the growth of the global electric bus market. However, the heavy charging load of electric vehicles might negatively impact power grids and electric supply. This is expected to restrain the growth of the market during the period between 2016 and 2020. The overall market has a significant opportunity to expand with the advent of several technological advancements.

On the basis of charging technology, the report segments the global electric bus market into non-autonomous and autonomous. The autonomous charging technology leads the market and is anticipated to expand at a CAGR of just over 29% during the forecast horizon. The autonomous charging technology is highly preferred among manufacturers and consumers alike. The development of high mass batteries will further boost the growth of this technology.

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The report studies the global electric bus market across the Americas, EMEA, and APAC. In 2015, the APAC region dominated the overall market with a share of over 65%. The region is anticipated to lead the market throughout the forecast period owing to the increased adoption of electric vehicles across China and Japan. In fact, China is the largest market for electric buses and the government is replacing conventional buses with electric ones due to increase in air pollution across the country. Furthermore, China is also developing the necessary infrastructure to support the usage of electric buses.

The report profiles some of the key players in the global electric bus market such as Ebus, Proterra, Yutong, BYD, Wuzhoulong, Eagle, Nanjing Jiayuan, Ankai, Zonda Electric Bus, and Zhongtong. The market players are working with governments to increase the usage of electric buses. A majority of these market players are based in China where the demand for electric buses is increasing at a robust rate. The report further analyzes various growth opportunities for the market players.

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