Global Electric Bus Market Report 2019-2024

NAVI MUMBAI, India - Dec. 3, 2019 - PRLog -- Global Electric Bus Market (https://www.bharatbook.com/marketreports/global-electric-bus-market-by-seating-capacity-up-to-30-seater-31-40-seater-above-40-by-battery-type-lead-acid-/1894250) is projected to surpass $ 350 billion by 2024 on account of strict emission norms and emphasis by the governments of various countries on clean energy public transportation. According to WHO, air pollution is the leading cause of death in countries with poor quality of air. As a result, governments of various countries are offering subsidies on the purchase of electric buses. Furthermore, electric buses have lower ownership cost and longer lifespan when compared with their diesel counterparts, which is anticipated to positively influence the growth of the electric bus market during the forecast period.

Global electric bus market can be classified based on seating capacity, battery type, application, bus length and region. Based on the battery type, the market can be bifurcated into lead acid and lithium ion. Lithium ion accounted for the largest share and the segment is poised to grow at an impressive rate during the forecast period as well, as it is cost-effective and helps to reduce the weight of the bus.

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In terms of regional analysis, the market can be segmented into North America, Asia-Pacific, Middle East and Europe. Asia-Pacific is anticipated to grow at the highest rate during the forecast period due to favorable government initiatives and support. Furthermore, increasing air pollution and reducing cost of batteries are positively influencing the growth of the market in the region. In Asia-Pacific, China dominated the market and the country's electric bus market is poised to grow at an impressive rate in the coming years as well.

Major players operating in the global electric bus market include AB Volvo, BYD Company Limited, Daimler AG, Zhengzhou Yutong Bus Co., Ltd., Anhui Ankai Automobile Co. Ltd., Iveco S.p.A., Scania AB, New Flyer Industries, Dongfeng Automobile Co., Ltd., GreenPower Motor Company Inc., among others.

Browse our full report with Table of Contents : https://www.bharatbook.com/marketreports/global-electric-bus-market-by-seating-capacity-up-to-30-seater-31-40-seater-above-40-by-battery-type-lead-acid-/1894250