LONDON, May 30, 2016 /PRNewswire/ -- The global electric
bus market accounted for volume sales of 19,059 units in 2015. It
is expected to witness growth at a CAGR of 20.9% in terms of volume
during the period 2016 - 2025. Among the various technologies, the
parallel pure electric bus is expected to be the largest segment
(50.8% share) in the global electric bus market in 2025. However,
the majority of electric buses running in the present time are
hybrid, as they are low in cost, and offer operational flexibility
in terms of alternative fuel. However, the western countries are
focusing more on the pure electric buses, due their zero carbon
foot prints.
Pure electric buses require battery for their operation, while
hybrid electric buses use conventional fuel, along with an electric
propulsion system. Hybrid electric buses accumulate energy, when
the bus decelerates. The power stored in batteries of hybrid
electric buses is used for forceful tasks, such as accelerating
from standstill. Once the vehicle is in motion, the combustion
engine later runs the vehicle's movement. The kinetic energy of the
moving vehicle is used for recharging battery in hybrid vehicles.
The hybrid buses holds the majority share in the global electric
bus market; however, the demand of pure electric buses is
increasing rapidly, especially in the western countries owing to
growing government concerns for emission-free transportation. As of
now, China is the largest and the
fastest growing electric bus market in Asia-Pacific. It is expected to account for
over 50% share of the global electric bus market by 2025.
In Europe, the U.K., Germany, and France are the major markets for electric bus.
The government of the U.K. launched a double decker electric bus in
London earlier in 2015. Côte
d'Ivoire, Uruguay, and
Brazil are expected to be the
early adopters of electric bus in Rest of the World. The price of
electric buses is almost twice, as compared to their conventional
counterparts. The demand of public transit services is highest in
Brazil, Russia, India, China,
and South Africa (BRICS). However,
the premium pricing of electric buses is limiting their acceptance
in these price sensitive countries. The low level of environment
awareness, along with lack of infrastructure, such as charging
station is limiting the penetration of electric buses in the public
transit system.
The electric bus market is still at its nascent phase, and requires
further technical development for the increased adoption of
electric buses. Moreover, the premium price of electric buses is
the major hindrance for their large scale adoption in public
transit infrastructure, especially within the developing countries,
where regional governments are focusing more on low emission
natural gas powered buses.
The Chinese module suppliers, such as BYD, are expected to be the
largest electric bus module suppliers, during the forecast period.
So far, AB Volvo is the only major participant to have hybrid
module system developed in-house. Other electric bus module
suppliers, such as ZF Friedrichshafen AG offer their hybrid bus
module in aftermarket for conventional transit buses. Several
companies operating in the global electric bus market have been
expanding their market at global level. BYD Company Limited has
recently expanded its production base in California. Solaris Bus and Coach S.A.
launched articulated electric bus 'Urbino 18', in September 2014. The major players operating in
the electric bus market include, Zhengzhou Yutong Group Co. Ltd.,
AB Volvo, Shenzhen Wuzhoulong Motors Co. Ltd., FAW Group
Corporation, King Long United Automotive Industry Co. Ltd., Daimler
AG, Alexander Dennis Limited, EBUSCO, Ashok Leyland Ltd., Solaris
Bus & Coach S.A., BYD Company Limited, and Proterra Inc.
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