UK Electric Bus market is estimated to grow at a considerable CAGR during the forecast period. The increasing adoption of electric vehicles in the country owing to the growing need for controlling GHG (Greenhouse gases) emissions is a major factor to propel the market growth in the country. The availability of government and private funding for electric buses in the country is further anticipated to promote UK electric bus market. The UK government has a plan to introduce 105 double-decker electric buses between 2019 and 2020 with an investment of $72 million. The presence of cohesive government schemes such as all-electric bus-town is further supporting the growth of the electric bus market in the country.
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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. The government is anticipated to hold a considerable market share based on end-user owing to high involvement in the purchasing of electric buses in the country.
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UK 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
• AB Volvo
• BYD co. Ltd.
• Optare PLC
• Woodall Nicholson Ltd.
• Zhengzhou Yutong Bus Co., Ltd.
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