Asia-Pacific Electric Bus Market Size, Share & Trends Analysis Report
- VynZ Research
- Sep 6, 2023
- 2 min read
Asia-Pacific Electric Bus Market Size, Share & Trends Analysis Report by Vehicle Type (Battery Electric Bus, Fuel Cell Electric Bus), by Propulsion (AC, DC), by Length (<10m, 10-12m, >12m), by Application (Public Transport, Private), and Region, Forecast to 2030.
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The Asia-Pacific electric bus market is projected to reach USD 48.6 billion by 2030, registering a CAGR of 9.8% during 2023-2030. The growth of the Asia-Pacific electric bus market is being driven by a number of factors, including:
Government initiatives to promote the adoption of electric vehicles in order to reduce air pollution and improve public transportation.
Rising concerns about air pollution levels in the region.
Increasing demand for cleaner and more sustainable modes of transportation.
Growing investments in the development of new electric bus technologies.
The Asia-Pacific electric bus market is segmented by vehicle type, propulsion, length, application, and region. By vehicle type, the market is segmented into battery electric buses and fuel cell electric buses. The battery electric bus segment is the largest segment, accounting for the majority of the market share. This is due to the lower cost and simpler technology of battery electric buses.
By propulsion, the market is segmented into AC and DC. The AC segment is the largest segment, accounting for the majority of the market share. This is due to the widespread availability of AC charging infrastructure in the region.
By length, the market is segmented into <10m, 10-12m, and >12m. The <10m segment is the largest segment, accounting for the majority of the market share. This is due to the preference of smaller buses for public transportation in the region.
By application, the market is segmented into public transport and private. The public transport segment is the largest segment, accounting for the majority of the market share. This is due to the increasing adoption of electric buses by public transportation agencies in the region.
The Asia-Pacific region is the largest market for electric buses, accounting for the majority of the market share. This is due to the growing demand for cleaner and more sustainable modes of transportation in the region. China is the largest market for electric buses in the Asia-Pacific region, followed by India and Japan.
Some of the major players in the Asia-Pacific electric bus market include:
BYD
Yutong
Geely
Ashok Leyland
Tata Motors
Solaris Bus & Coach
Volvo Buses
Proterra
SAIC Motor
Knorr-Bremse
Siemens
These companies are developing new and innovative electric bus technologies to meet the growing demand in the region. They are also expanding their product offerings and investing in research and development to stay ahead of the competition.
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