China to Represent a Dominant Electric Buses Market Through 2020

(Newswire.net — July 25, 2017) New York City, New York — Growing need for transportation systems that emit less pollution has led to an upsurge in demand for electric buses globally. Imposition of government regulations regarding the use of automotives that emit relatively less pollution is likely to impact growth of the global market of electric buses significantly. 

Factors Fuelling Growth of the Global Market

Increasing concerns regarding environment in government and public areas due to various transportation systems has led to surge in demand for electric cars globally. Moreover, relatively low cost of hybrid electric buses as compared to electric counterparts is likely to rev up demand for electric buses through 2020. Increasing pollution in the air is likely to boost growth of the global market of electric buses during the projected period.

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Governments in various countries mainly prefer new energy vehicles, as unstable prices of fuel and diminishing investment in crude oil are likely to impact transportation and transit agencies. Investment in electric buses initially are likely to remain relatively high, whereas operating cost is likely to be relatively low. As compared to electricity, diesel is more expensive, due to which electric buses witness an upsurge in demand.

On the other hand, increasing prominence of buses that are fuelled with natural gas fuel, is likely to inhibit growth of the global market of electric buses during the predicted period. Moreover, various challenges posed to the global market of electric buses include relatively high cost, and capital intensive attributes. Such factors are likely to restrain growth of the global market of electric buses during the predicted period.

Hybrid Buses to Remain a Dominant Segment 

Hybrid buses among others are likely to retain dominance in the global market of electric buses by the end of 2020. Purely electric buses are likely to witness a rapid growth in the global market by 2020-end. This is mainly attributed to increasing demand and public interest in transportation that does not emit pollution. Moreover, the imposition of government regulations is likely to impact growth of the global market of electric buses positively throughout 2020.

Buses that are purely electric function on batteries, however the hybrid electric buses function on conventional fuel, and on an electric propulsion system. The hybrid electric buses preserve energy during deceleration, and find use in tasks that are of high-intensity. The plug-in electric buses need a source for power for plug–in to maintain battery charge. The energy for power is boosted by the combustion engine, which further maintains the energy level after the battery is recharged.

China to Represent a Leading Market

China among other countries in Asia will continue to remain a dominant region in the global market of electric buses during the projected period. This is mainly attributed to surge in population, along with regulations to maintain cleanliness in transportation, imposed by the government. However, due to lack of regulations designed for these transport systems, the electric bus market is likely to witness a relatively low adoption in the developed countries. Germany, France, and U.K among other countries in Europe are likely to gain traction in the global market of electric buses during the predicted period.

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Market Players

Major market players in the global market of electric buses include Alexander Dennis, EBUSCO, Ashok Leyland, Daimler, AB Volvo, BYD Company limited, and Proterra.