Spain electric bus market is estimated to grow at a considerable CAGR during the forecast period. Increasing awareness about green vehicles to reduce the level of greenhouse gases is a major factor to propel the growth of the Spain electric bus market. However, the high cost of electric buses in comparison to other conventional buses is a major factor that may restrict market growth. Technological advancements and growing adoption of high-end batteries to cut down the cost of electronic buses are anticipated to be major growth opportunities for the Spain electric bus market.
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The market is segmented on the basis of bus type, battery type, and end-user. Based on the bus type, the market is sub-segmented into the hybrid electric bus, fuel cell electric bus, and battery-electric bus. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. The decline in cost of li-ion battery and inherent benefits offered by these batteries including smaller size, lighter weight, and higher energy density is anticipated to drive the market share of these batteries. Based on end-user, the market is sub-segmented into government and fleet owners.
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Spain Electric Bus Market Segmentation
By Bus Type
• Hybrid Electric Bus
• Fuel Cell Electric Bus
• Battery Electric Bus
By Battery Type
• Lithium-ion batteries
• NiMH Batteries
• Fleet Owner
• BYD Co. Ltd.
• Irizar Corp.
• Iveco (A CNH Industrial Co.)
• Jiangsu Alfa Bus Co., Ltd.
• Kiepe Electriv GmbH
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