Withthingsgoinghaywire,MarketResearchFuture(MRFR)analyzesvitalpointstomakesurethat thebusinessesaroundtheglobalautomotiveelectricbusmarket2020areentirelypreparedto tacklepotentialimplicationscausedbyCOVID-19pandemic.
MRFR,fromitsstudy,estimatesthattheglobalautomotiveelectricbusmarketcanreachitstarget togetatleast22.8%CAGRduringtheforecastperiod2017-2023,andwillbevaluedUSD82.5 billion.
KEY COMPANIES PROFILED
DaimlerAG(Germany)
AnhuiAnkaiAutomobileCo.,Ltd.(China)
VolvoGroup(Sweden)
WrightEnrichmentInc(U.S.)
ShandongYiXingElectricAutoCo.,Ltd(China)
ZhongtongBusHoldingCo.,Ltd.(China)
BYDAutoCo.,Ltd(China)
Iveco(Italy)
Ebus(Singapore)
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Top Impacting Factors
Theescalationoftheelectricbusmarkethasbeenattributedtothecontinuouslyrisingconcerns aboutthereductionoffossilfuelsandenvironmentalpollution.Inordertotackletheissues mentionedabove,manygovernmentsacrosstheworldhaveinitiatedchangesinthepublic transportationsystems,mainlybyreplacingtheheavy-dutydieselandgasoline-runbuseswith zero-emissionautomotiveelectricbuses.
Automotiveelectricbuses,whichprimarilyrunbyconsumingelectricalenergy,havebeen consideredasasignificantscopeofthemarkettoexpand.Electricbusesareoperatedintwomodes, electricandhybrid,whichconsumelesspetroleumthatcanberechargedfromastandardelectrical outlet.Theseauthenticfactorsclaimthatthemarketcouldseearisinggrowthgraphmainlyafter thelongtermimpactofCOVID19worldwide.
MRFRfurtherreportsthatvehicleemissionissolelyresponsibleforemitting29%ofgreenhouse gasesthatresultinairpollutionandglobalwarming.Thereductionofcrudeoilandrisingfuel priceshaveresultedinascendinreputationandsalesofvehiclesthatarelessinjurioustothe environmentandusesalternativefuels.Thishasalsoledtoasignificantboostintheadoptionof electricbusestoreducedependencyonfossilfuels.
Furthermore,lookingatbenefitssuchasthermalcomfortandnoisereductionofferedbythesewill furtheraugmenttheautomotiveelectricbusmarket.Electric&hybridelectricbusesassistin reducingtheeffectsofsolarheatbuild-upinsidethebusandthenturnsintoafilterfordisruptive noisessuchascarhornsandconstructionwork.
Onthecontrary,thefactorofhighcostalliedwithmanufacturers,lackofawarenessonusability andbenefitsimpedetheexpansionofthemarket,significantlyduringtheforecastperiod.
Segmentation of Market
MARKET SEGMENTATION
By Charging technology Autonomous
Non-autonomous
By Vehicle Type
LightDutyElectric
HeavyDutyElectric
HybridElectricBus By Region
NorthAmerica
Europe
Asia-Pacific
RestoftheWorld
AUTOMOTIVE ELECTRIC BUS MARKET SHARE, BY REGION, 2020
NorthAmerica:XX%
Europe:XX%
Asia-Pacific:XX%
RestoftheWorld(RoW):XX%
Theglobalanalysisofthemarketisdoneforthesegment,suchaschargingtechnologyandvehicle type.
Intermsofthechargingtechnologysegment,themarkethasincludedautonomousandnonautonomous.
Intermsofvehicletypesegment,themarkethasincludedlight-dutyelectric,heavy-dutyelectric, andahybridelectricbus.
Regional Front
Asia-Pacificisleadingtheautomotiveelectricbusmarketwithaugmentedgovernmentinitiativesin countriessuchasChina,India,andJapan.Chinaistheleadingmarketforautomotiveelectricbuses, andthegovernmentisvigorouslypromotingthereplacementofconventionalbuseswithelectric ones.Chinaisalsobuddingtherequiredinfrastructuretosupporttheuseofelectricbuses. However,in2017and2018,salesofautomotiveelectricbusesdeclined,owingtothechangesin policiesandsubsidiesamongthenationalandlocalgovernmentsinthecountry.Yetintheforecast period,Chinamaycontinuetoobservegrowthintheadoptionofautomotiveelectricbuses,asmore thanthirtycitiesintheChinesehaveplannedtoaccomplish100%electrifiedpublictransitby2020. TheregionsareZhuhai,Guangzhou,Foshan,Dongguan,andZhongshaninthePearlRiverDelta, alongwithHangzhou,Nanjing,Shaanxi,andShandong.
Europeregionisknownasoneoftheleadingregionsfortheexpansionofthebussector. GovernmentsofvariouscountriesinEuropearetakinginitiativesandstepstocurbpollution,which inturnisboostingdemandforautomotiveelectricbusesandothervehicles.
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