The Asia-Pacific electric bus market is expected to have a 9.8% CAGR during 2021-2027 owing to the rising pollution level from vehicles in various APAC countries.
Furthermore, the increasing population has led to an increase in the number of people having their own cars and two-wheelers that contribute to the increased air pollution levels. This has resulted in surging demand for clean mobility and substitute transportation solutions like electric buses.
Also, the regulations by the government and subsidies and tax exemptions on electric buses provided by the government to boost sales will also contribute to the growth of the Asia-Pacific electric bus market.
The COVID-19 outbreak has unprecedently declined the sales of vehicles and has adversely impacted the ebus demand. To curtail the spread of coronavirus, many transportation and manufacturing operations have been stopped along with public transport. The global automobile industry has slowed down and nationwide lockdowns, limited employees, and social distancing as disturbed public commuting. This all has resulted in the sluggish growth of the electric bus market.
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- By Vehicle Type
- By Length Type
- By Seating Capacity
- By Application
- By Battery Capacity
- By Batter
- By End-User
Based on vehicle type, FCEV buses is anticipated to have a huge demand as it operates at low cost and requires less technical maintenance as compared to other electric vehicles.
Moreover, hydrogen cells that have recently been produced have enhanced fuel cell capacity and enhanced battery performance, thus lowering operating expenses. Hydrogen cells that have recently been produced have enhanced fuel cell capacity and improved battery performance, lowering operating expenses.
Rising hydrogen fuel R&D is expected to boost demand for FCEV buses. Hydrogen fuel cells are an excellent option for zero-emission mobility programs because of their numerous advantages, including near-zero emissions, increased efficiency, and renewability.
China dominates the electric bus market in the Asia-Pacific region owing to the presence of major OEMs like BYD, Yutong, Zhongtong, etc. in the region. Moreover, the region’s electric bus industry is predicted to benefit from favorable legislation for electric buses, lower-cost electric and electronic components, and rapidly increasing charging infrastructure.
In December 2021, Tata Motors delivered 60 electric buses to Ahmedabad Janmarg Limited (AJL). The FAME II Initiative offers a 24-seat Zero Emission Tata Ultra Urban 9/9 AC Bus under a Gross Cost Contract (GCC) with AJL, which is operated by Ahmedabad’s Bus Rapid Transit System. Tata Motors will also install the necessary charging infrastructure and support system to ensure the bus’s flawless functioning.
Shanghai Shenlong Bus Co., Ltd., BYD Company Ltd., Tata Motors, Zhongtong Bus Holding Co. Ltd., Olectra Greentech Limited., YUTONG, King Long United Automotive Co. Ltd., Anhui Ankai Automobile Co. Ltd., ASHOK LEYLAND, Deccan Auto Ltd. are among the major players in the Asia-Pacific electric bus industry.
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