According to a new report published by UnivDatos Markets Insights, the Electric Buses market was valued at USD 4.5 Billion in 2021 & is expected to grow at a CAGR of 19.8% from 2023-2030. The analysis has been segmented into Propulsion Type (Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), Plug-In Hybrid Vehicles (PHEV), and Fuel Cell Electric Vehicles (FCEV)); Length (<9m, 9m-14m, and >14m); Range (Up to 150 Miles, 151-300 miles, Above 300 miles); Battery Capacity ( Less than 100kWh, 100-300kWh, and More than 300kWh); Region/Country.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 – https://univdatos.com/report/electric-buses-market/get-a-free-sample-form.php?product_id=40435

The Electric Buses market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Electric Buses market. The Electric Buses market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Electric Buses market at the global and regional levels.

Key Market Dynamics

Growing greenhouse gas (GHG) emissions have heightened concerns about climate change and air pollution, creating a strong demand for electric buses. As governments implement policies and regulations to reduce GHG emissions and transition to clean energy sources, incentives and subsidies are encouraging the adoption of electric vehicles, including buses. Technological advancements, such as improved battery range and charging infrastructure, have made electric buses more practical and affordable. Furthermore, the public's increasing awareness of the environmental and health benefits of electric buses has contributed to their rising demand as a sustainable solution for public transportation. The fuel for fuel cell electric vehicles is pure hydrogen, with only heat and water remaining as residues. As a result, these automobiles do not produce any harmful emissions, such as CHG or particulate matter. Hydrocarbons (HC) and greenhouse gases (GHGs) are released by fuels like gasoline and diesel. Climate change and global warming are caused by these gases and particulate matter. As a result, using hydrogen power for transportation, business, and industrial use would significantly reduce greenhouse gas emissions. Moreover, the targets by countries are also providing an opportunity for EV manufacturers to work more and more on the production of the EV to meet the specific demand.

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the electric bus market, both in terms of challenges and opportunities. On one hand, the global health crisis halted manufacturing activities, and led to a decline in demand for public transportation services. As a result, many planned electric bus deployments were delayed or put on hold. However, the pandemic also highlighted the importance of sustainable and clean transportation options, leading to increased recognition of electric buses as a viable solution for reducing pollution and improving air quality in urban areas. Governments and transit agencies worldwide initiated stimulus packages and funding programs to support the recovery of public transportation, with a particular focus on electrification. For instance, the European Union's Green Deal and the United States' American Jobs Plan included substantial investments in electric buses and charging infrastructure Based on the type, the market has been categorized into rotary-wing aircraft and fixed-wing aircraft.

·         Based on propulsion, the market is segmented into BEV, HEV, PHEV, and FCEV. Among these, HEV has a high market share in 2021 and will dominate during the forecast period.

·         Based on length, the market is segmented into <9m, 9-14m, and >14m. Among these, 9m-14m has a high market share in 2021 and will dominate during the forecast period.

·         Based on range, the market is segmented into up to 150 miles, 151-300 miles, and above 300 miles

·         Based on battery capacity, the market is segmented into less than 100 kWh, 100-300 kWh, and more than 300 kWh. Among these, the less than 100 kWh segment has a high market share in 2021 and will dominate the market in the forecast period.

Electric Buses Market Geographical Segmentation Includes:

·         North America (U.S., Canada, and the Rest of North America)

·         Europe (Germany, UK, France, Italy, Spain, Rest of Europe)

·         Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)

·         Rest of the World

Asia-pacific will hold the largest share of the market in 2022. China is leading the way in the growing adoption of electric buses, with a robust and ambitious plan to transform its public transportation system. The Chinese government has been investing heavily in electric buses, aiming to replace its entire fleet of traditional buses with electric ones. In 2022, China's BYD Company, one of the world's largest manufacturers of electric vehicles, launched the K12A, a 27-meter-long electric bus capable of carrying up to 250 passengers. This groundbreaking product launch demonstrates China's commitment to innovation and sustainability in the transportation sector.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Electric Buses market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.

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Recent Developments:

•       In 2023, The Egyptian manufacturer, Manufacturing Commercial Vehicles (MCV), is entering a continental European market. The OEM has developed a bus specifically for clients in Germany and has already founded a subsidiary, MCV Deutschland GmbH, for sales, after-sales, and services.

•       Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Electric Buses market?

• Which factors are influencing the Electric Buses market over the forecast period?

• What are the global challenges, threats, and risks in the Electric Buses market?

• Which factors are propelling and restraining the Electric Buses market?

• What are the demanding global regions of the Electric Buses market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

• What are the descriptive profiles of key companies along with their SWOT analysis?

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About UnivDatos Market Insights (UMI)

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Target Audience:

·          Public Transportation Authorities

·         Fleet Operators

·         Environmental Organizations

·         Government Organization & Other Organizations

·         Others

About UnivDatos Market Insights

UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

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